NXP Semiconductors (NASDAQ:NXPI) Price Target Raised to $291.00

NXP Semiconductors (NASDAQ:NXPI) had its price target increased by Truist Financial from $265.00 to $291.00 in a report released on Wednesday, Benzinga reports. They currently have a buy rating on the semiconductor provider’s stock.

NXPI has been the topic of several other research reports. TD Cowen lifted their price target on shares of NXP Semiconductors from $270.00 to $300.00 and gave the stock an outperform rating in a research note on Tuesday, March 12th. Needham & Company LLC boosted their price target on NXP Semiconductors from $250.00 to $280.00 and gave the stock a buy rating in a research note on Wednesday. StockNews.com downgraded NXP Semiconductors from a buy rating to a hold rating in a report on Tuesday. Evercore ISI assumed coverage on NXP Semiconductors in a report on Tuesday, April 16th. They set an outperform rating and a $300.00 price objective on the stock. Finally, Mizuho increased their target price on NXP Semiconductors from $220.00 to $225.00 and gave the company a neutral rating in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $257.72.

NXP Semiconductors Price Performance

NXPI stock opened at $249.43 on Wednesday. The stock has a 50-day simple moving average of $242.28 and a 200-day simple moving average of $220.92. The firm has a market cap of $63.88 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 0.97 and a beta of 1.54. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.39 and a current ratio of 2.35. NXP Semiconductors has a 1 year low of $161.23 and a 1 year high of $264.26.

NXP Semiconductors (NASDAQ:NXPI) last issued its quarterly earnings data on Monday, February 5th. The semiconductor provider reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.04. The company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.40 billion. NXP Semiconductors had a net margin of 21.24% and a return on equity of 37.65%. On average, equities analysts predict that NXP Semiconductors will post 12.21 earnings per share for the current fiscal year.

NXP Semiconductors Announces Dividend

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

Hedge Funds Weigh In On NXP Semiconductors

Several institutional investors have recently modified their holdings of the company. Westwood Wealth Management lifted its position in NXP Semiconductors by 9.3% in the 1st quarter. Westwood Wealth Management now owns 8,830 shares of the semiconductor provider’s stock valued at $2,188,000 after purchasing an additional 750 shares during the last quarter. Janney Montgomery Scott LLC grew its position in NXP Semiconductors by 6.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 198,816 shares of the semiconductor provider’s stock worth $49,261,000 after purchasing an additional 12,754 shares during the last quarter. Peterson Wealth Services increased its stake in shares of NXP Semiconductors by 3.1% in the first quarter. Peterson Wealth Services now owns 1,520 shares of the semiconductor provider’s stock valued at $377,000 after purchasing an additional 46 shares during the period. Blue Trust Inc. raised its holdings in shares of NXP Semiconductors by 39.6% during the first quarter. Blue Trust Inc. now owns 2,215 shares of the semiconductor provider’s stock valued at $549,000 after buying an additional 628 shares during the last quarter. Finally, Ballast Advisors LLC boosted its position in shares of NXP Semiconductors by 4.5% during the first quarter. Ballast Advisors LLC now owns 6,723 shares of the semiconductor provider’s stock worth $1,666,000 after buying an additional 292 shares during the period. Institutional investors own 90.54% of the company’s stock.

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.