NXP Semi slumped last week following a confluence of negative events.
The company has plans to improve operating margins in the range of 500 basis points.
The CFO forecasts aggressive stock buybacks with the stock trading in the $90s after already repurchasing 12% of the company.
Last week,NXP Semiconductors(NXPI) slumped to yearly lows around $85 following weakness in the semiconductor segment, fears over China and possibly some disappointment surrounding the Analyst Day on September 11. The solid bounce again confirms myinvestment thesisof owning this semiconductor on these dips to $90 as the company itself snaps up billions worth of shares.