NEW YORK (TheStreet) -- Shares of NXP Semiconductors NV (NXPI) are surging 4.02% to $72.47 in midday trading Wednesday, after CEO Rick Clemmer said in an interview this week that the semiconductor company will grow faster than its markets, Bloomberg reports.
Clemmer said the Dutch supplier of wireless chips NXP will attract customers by putting a greater emphasis on security for connected devices, with the potential growth of mobile payment setups including Apple's (AAPL) Apple Pay or Google's (GOOG) Google Wallet, Bloomberg added.
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Separately, TheStreet Ratings team rates NXP SEMICONDUCTORS NV as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate NXP SEMICONDUCTORS NV (NXPI) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income and generally higher debt management risk."