NXP Semiconductors NV (NASDAQ: NXPI) has announced that the Philippines government has chosen NXP’s SmartMX2 secure microcontroller for its modernized electronics passports (ePassports) and unified multipurpose identification card (UMID) program. The ePassports program will enhance the national security with secure biometric data, encryption and authentication technology to help reduce the document reproduction and identification fraud for approximately 93 million Filipinos. Moreover, NXPI has announced a new long-term partnership with a Chinese heavyweight Geely Automotive Group. The customer or supplier relationship will include a joint research and development operation aimed at tailoring NXP chips to meet Geely’s exact technology needs. Further, NXPI has partnered with several companies.

The group has reported the 52 percent growth on a year on year basis in the revenue to $2.44 billion during the fourth quarter of 2016 ended on 31^st December. But this is a one percent decline as compared to the prior quarter, which is in-line with the mid-point of NXPI guidance.  As a result, the stock rose over 0.15% in the afterhours of February 1^st, 2017 (Source: Google finance).

Freescale and NXP integration are progressing very well, and is ahead of schedule as the go-to-market and portfolio decisions are well aligned with the customer’s long-term requirements. This will provide the opportunity to combine the portfolios and focus on solutions for the expanded customer base, while driving significant cost synergies to enhance market reach and profitability. Additionally, NXPI has announced the divestment of the Standard Products business, the premier discrete and logic supplier, soon to be known as Nexperia, to JAC Capital and Wise Road Capital. The divestment has achieved all the required regulatory approvals, the disentanglement process is going very well and the final close is expected during the first quarter of 2017.

Meanwhile, Qualcomm has planned to acquire NXPI, which it had agreed to buy in October for $110.00 a share in cash, representing a total enterprise value of about $47 billion. The acquisition of NXP Semiconductors will enable Qualcomm to diversify into highly lucrative end markets such as auto, secured devices, connectivity and secure payments. These segments are high-margin businesses with strong potential for future growth. This transaction will also place Qualcomm in the second position after Intel Corp. in terms of sales in the broader global semiconductor market.

NXP Semiconductors stock has risen 30.72% in the last one year (as of February 1^st, 2017; source: Google Finance). According to tipranks.com, the stock has an average price target of $112.50, which is a further upside of 15.09%.