NXP Semiconductors (NASDAQ:NXPI) Price Target Increased to $370.00 by Analysts at Evercore ISI

NXP Semiconductors (NASDAQ:NXPI) had its price target hoisted by Evercore ISI from $300.00 to $370.00 in a report published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the semiconductor provider’s stock.

Several other analysts have also recently commented on the stock. Morgan Stanley lifted their target price on shares of NXP Semiconductors from $221.00 to $224.00 and gave the stock an equal weight rating in a research note on Wednesday, February 7th. Mizuho lifted their price objective on NXP Semiconductors from $225.00 to $265.00 and gave the company a neutral rating in a research report on Wednesday. Wolfe Research upgraded NXP Semiconductors from a peer perform rating to an outperform rating and set a $255.00 target price on the stock in a research report on Thursday, January 18th. TD Cowen lifted their price target on NXP Semiconductors from $270.00 to $300.00 and gave the company an outperform rating in a report on Tuesday, March 12th. Finally, Needham & Company LLC upped their price objective on shares of NXP Semiconductors from $250.00 to $280.00 and gave the company a buy rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $257.72.

NXP Semiconductors Stock Down 2.6 %

NXPI opened at $249.43 on Wednesday. The firm has a market cap of $63.88 billion, a P/E ratio of 23.03, a PEG ratio of 0.97 and a beta of 1.54. The business’s fifty day simple moving average is $242.28 and its 200 day simple moving average is $220.92. NXP Semiconductors has a 52 week low of $161.23 and a 52 week high of $264.26. The company has a quick ratio of 1.39, a current ratio of 2.35 and a debt-to-equity ratio of 1.11.

NXP Semiconductors (NASDAQ:NXPI) last released its quarterly earnings results on Monday, February 5th. The semiconductor provider reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.04. The company had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.40 billion. NXP Semiconductors had a net margin of 21.24% and a return on equity of 37.65%. As a group, equities research analysts anticipate that NXP Semiconductors will post 12.21 EPS for the current fiscal year.

NXP Semiconductors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Thursday, March 21st were issued a dividend of $1.014 per share. The ex-dividend date was Wednesday, March 20th. This represents a $4.06 annualized dividend and a dividend yield of 1.63%. NXP Semiconductors’s payout ratio is currently 37.49%.

Hedge Funds Weigh In On NXP Semiconductors

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC raised its stake in shares of NXP Semiconductors by 0.4% during the third quarter. FMR LLC now owns 25,779,812 shares of the semiconductor provider’s stock valued at $5,153,900,000 after purchasing an additional 91,453 shares during the period. Vanguard Group Inc. increased its stake in NXP Semiconductors by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 11,011,534 shares of the semiconductor provider’s stock worth $2,529,129,000 after buying an additional 118,562 shares during the period. Norges Bank acquired a new position in NXP Semiconductors in the 4th quarter worth $762,077,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in NXP Semiconductors by 893.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,332,578 shares of the semiconductor provider’s stock valued at $535,747,000 after buying an additional 2,097,727 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in NXP Semiconductors by 4.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,205,035 shares of the semiconductor provider’s stock valued at $440,841,000 after buying an additional 92,571 shares during the last quarter. 90.54% of the stock is owned by institutional investors and hedge funds.

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.