NXP Semiconductors (NASDAQ:NXPI) Price Target Cut to $315.00 by Analysts at Evercore ISI

NXP Semiconductors (NASDAQ:NXPI) had its price objective cut by Evercore ISI from $370.00 to $315.00 in a report released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the semiconductor provider’s stock.

Other research analysts have also issued reports about the stock. UBS Group upgraded shares of NXP Semiconductors from a “neutral” rating to a “buy” rating and upped their target price for the company from $275.00 to $285.00 in a report on Monday, October 7th. Barclays reduced their price objective on NXP Semiconductors from $330.00 to $280.00 and set an “overweight” rating on the stock in a research note on Tuesday. Mizuho set a $290.00 price objective on shares of NXP Semiconductors in a research note on Friday, October 18th. The Goldman Sachs Group cut their target price on shares of NXP Semiconductors from $285.00 to $277.00 in a research note on Friday, October 11th. Finally, Citigroup upped their price target on shares of NXP Semiconductors from $150.00 to $220.00 and gave the stock a “sell” rating in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $276.85.

NXP Semiconductors Stock Performance

Shares of NXPI opened at $231.38 on Wednesday. The company has a 50-day moving average of $236.43 and a two-hundred day moving average of $253.19. The stock has a market cap of $58.94 billion, a P/E ratio of 22.08, a PEG ratio of 2.57 and a beta of 1.49. NXP Semiconductors has a 12-month low of $178.19 and a 12-month high of $296.08. The company has a current ratio of 2.21, a quick ratio of 1.52 and a debt-to-equity ratio of 1.04.

NXP Semiconductors (NASDAQ:NXPI) last posted its earnings results on Monday, November 4th. The semiconductor provider reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.02. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.25 billion. NXP Semiconductors had a return on equity of 34.11% and a net margin of 20.98%. NXP Semiconductors’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.31 EPS. As a group, research analysts predict that NXP Semiconductors will post 11.94 EPS for the current fiscal year.

NXP Semiconductors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Thursday, September 12th were issued a $1.014 dividend. This represents a $4.06 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Thursday, September 12th. NXP Semiconductors’s payout ratio is currently 38.74%.

Insiders Place Their Bets

In related news, EVP Jennifer Wuamett sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $232.35, for a total transaction of $813,225.00. Following the sale, the executive vice president now owns 30,269 shares of the company’s stock, valued at $7,033,002.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is owned by insiders.

Institutional Trading of NXP Semiconductors

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in NXP Semiconductors by 17.3% in the first quarter. Vanguard Group Inc. now owns 12,921,432 shares of the semiconductor provider’s stock worth $3,201,543,000 after buying an additional 1,909,898 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of NXP Semiconductors by 67.2% during the 3rd quarter. Van ECK Associates Corp now owns 3,041,129 shares of the semiconductor provider’s stock worth $718,680,000 after acquiring an additional 1,222,736 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of NXP Semiconductors by 24,533.2% in the 3rd quarter. International Assets Investment Management LLC now owns 514,341 shares of the semiconductor provider’s stock worth $123,447,000 after acquiring an additional 512,253 shares during the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of NXP Semiconductors during the third quarter worth $84,901,000. Finally, Bessemer Group Inc. raised its position in shares of NXP Semiconductors by 4,525.6% during the first quarter. Bessemer Group Inc. now owns 356,774 shares of the semiconductor provider’s stock worth $88,399,000 after purchasing an additional 349,061 shares during the period. 90.54% of the stock is currently owned by institutional investors.

About NXP Semiconductors

NXP Semiconductors N.V. offers various semiconductor products. The company's product portfolio includes microcontrollers; application processors, including i.MX application processors, and i.MX 8 and 9 family of applications processors; communication processors; wireless connectivity solutions, such as near field communications, ultra-wideband, Bluetooth low-energy, Zigbee, and Wi-Fi and Wi-Fi/Bluetooth integrated SoCs; analog and interface devices; radio frequency power amplifiers; and security controllers, as well as semiconductor-based environmental and inertial sensors, including pressure, inertial, magnetic, and gyroscopic sensors.