NXP Semiconductors (NASDAQ:NXPI) Issues Quarterly Earnings Results

NXP Semiconductors (NASDAQ:NXPI) announced its earnings results on Monday. The semiconductor provider reported $3.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.38, Briefing.com reports. NXP Semiconductors had a net margin of 21.21% and a return on equity of 36.13%. The business had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the business earned $3.04 earnings per share. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. NXP Semiconductors updated its Q3 guidance to $3.21-3.63 EPS and its Q3 2024 guidance to 3.210-3.630 EPS.

NXP Semiconductors Price Performance

NXPI opened at $250.00 on Thursday. The stock’s 50-day moving average price is $273.19 and its 200 day moving average price is $249.40. NXP Semiconductors has a 12-month low of $167.21 and a 12-month high of $296.08. The firm has a market cap of $63.92 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 2.45 and a beta of 1.49. The company has a current ratio of 2.35, a quick ratio of 1.64 and a debt-to-equity ratio of 1.11.

NXP Semiconductors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Thursday, June 13th were paid a $1.014 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.62%. NXP Semiconductors’s payout ratio is presently 37.49%.

Insider Activity at NXP Semiconductors

In other news, CEO Kurt Sievers sold 8,548 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $275.75, for a total transaction of $2,357,111.00. Following the sale, the chief executive officer now owns 177,889 shares of the company’s stock, valued at $49,052,891.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NXPI has been the topic of several research analyst reports. Morgan Stanley lowered their price objective on NXP Semiconductors from $275.00 to $271.00 and set an “equal weight” rating on the stock in a report on Wednesday. Citigroup boosted their price target on NXP Semiconductors from $150.00 to $220.00 and gave the stock a “sell” rating in a research report on Monday, July 15th. UBS Group raised their price objective on NXP Semiconductors from $230.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Argus upped their target price on shares of NXP Semiconductors from $260.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Barclays raised their price target on shares of NXP Semiconductors from $280.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $283.46.

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.