NXP Semiconductors N.V. (NXPI) Struggled Due To Auto, Says Jim Cramer

We recently published 11 Stocks That Jim Cramer Recently Talked About. NXP Semiconductors N.V. (NASDAQ:NXPI) is one of the stocks Jim Cramer recently discussed.

NXP Semiconductors N.V. (NASDAQ:NXPI) is a semiconductor company that manufactures application sensors, power controllers, and other products. The firm’s primary customers are in the auto industry. NXP Semiconductors N.V. (NASDAQ:NXPI)’s shares have gained 10.8% year-to-date but fell by 1.4% after the firm’s latest earnings report. The results saw it forecast $3.25 billion in midpoint revenue and $3.42 in midpoint earnings for the third quarter, both of which missed analyst estimates. Cramer ascribed the weak performance to the auto industry:

“That’s auto. You know, it was auto. Choppy.”

Previously, the CNBC TV host discussed NXP Semiconductors N.V. (NASDAQ:NXPI)’s stock and recommended viewers to buy it:

“Oh my god. So you know… we got a Texas Instruments upgrade early today. We got an Analog Devices upgrade earlier this week. NXPI is the last of the Internet of Things semiconductor company, with a lot of auto, and auto looks good to me. I think you buy NXPI on Monday morning. I do not kid you, Monday morning, we’re going to take a shot at that one.”

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Disclosure: None. This article is originally published at Insider Monkey.