** NXP Semiconductors NXPI.O shares climb 17.2% in premarket trading after the co forecast Q2 results above Street estimates, citing recovery in industrial and auto chip markets

** The chipmaker forecast Q2 rev between $3.35 bln and $3.55 bln and adj profit of $3.29-$3.72/share, with midpoints for both above estimates, per LSEG data

** J.P. Morgan analysts say NXP's upbeat guidance suggests recovery in autos and industrial chips is gaining traction, even as mobile remains a drag

** The strong outlook follows a similar upbeat forecast from peer Texas Instruments TXN.O last week, signaling a broader recovery in some chip markets

** YTD, the stock is up ~6.1%, roughly in line with the Nasdaq's .IXIC advance