Noting that NXP's stock has dropped about 20% from its peak, Bernstein says the sell-off is overdone and creates a "compelling opportunity," particularly for long-term investors. The firm continues to be upbeat on the outlook for the company's end markets and remains optimistic about the Freescale deal's impact on the company. Bernstein says the stock could double in five years, and it keeps a $133 price target and Outperform rating on the shares.

BofA raised the firm's price target on Texas Instruments (TXN) to $190 from $175 and keeps a Neutral rating on the shares. TI's small Q1 beat and inline but sequentially rising Q2 sales guidance, "while modest, potentially marks a recovery inflection in industrial chip demand," with positive read-across for U.S. peers such as Analog Devices (ADI), Microchip (MCHP), NXP Semiconductors (NXPI) and On Semiconductor (ON), the analyst tells investors. However, despite an expected recovery, TI's sustained high capex intensity could keep reported calendar year 2024-26 pro-forma EPS below $6 per share, the analyst added.

Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSAudioEye (AEYE) up... To see the rest of the story go to thefly.com. See Story Here