Story updated at 9:55 a.m. to reflect market activity.
Shares of NXP Semiconductor were falling 1.9% to $74.66 in morning trading.
The analyst firm set a price target of $100 for the chipmaker. Oppenheimer set its EPS estimates for NXP Semiconductors at $4.73 a share for 2014, and $5.60 a share for full year 2015.
Analyst Rick Schafer wrote, "Despite the ~70% run-up in share price YTD, we believe the NXP growth story is far from over, given multiple structural and secular tailwinds. NXP is amongst the best positioned names in our coverage universe to capitalize on rising semiconductor content in key verticals including auto, industrial and communications while maintaining the dominant franchise in the growing secure ID, secure transactions and mobile payment markets."
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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."