NXP Semiconductors (NASDAQ:NXPI) Shares Gap Up to $247.13

Shares of NXP Semiconductors (NASDAQ:NXPI) gapped up before the market opened on Tuesday . The stock had previously closed at $247.13, but opened at $257.72. NXP Semiconductors shares last traded at $257.98, with a volume of 1,116,807 shares traded.

Analysts Set New Price Targets

NXPI has been the subject of a number of analyst reports. Needham & Company LLC increased their target price on NXP Semiconductors from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays raised NXP Semiconductors from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $200.00 to $260.00 in a research note on Tuesday, January 16th. StockNews.com downgraded NXP Semiconductors from a “buy” rating to a “hold” rating in a research note on Tuesday. UBS Group increased their target price on NXP Semiconductors from $230.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Evercore ISI increased their target price on NXP Semiconductors from $300.00 to $370.00 and gave the stock an “outperform” 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $257.72.

NXP Semiconductors Trading Down 2.6 %

The business has a fifty day simple moving average of $242.28 and a 200 day simple moving average of $220.92. The stock has a market cap of $63.88 billion, a price-to-earnings ratio of 23.03, a PEG 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 (NASDAQ:NXPI) last announced its earnings results on Monday, February 5th. The semiconductor provider reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.04. The firm had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.40 billion. NXP Semiconductors had a return on equity of 37.65% and a net margin of 21.24%. As a group, equities analysts anticipate that NXP Semiconductors will post 12.21 EPS for the current 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 issued a dividend of $1.014 per share. 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 dividend payout ratio (DPR) is presently 37.49%.

Institutional Investors Weigh In On NXP Semiconductors

Several hedge funds have recently made changes to their positions in the business. Westwood Wealth Management boosted its holdings in shares of NXP Semiconductors by 9.3% during the first quarter. Westwood Wealth Management now owns 8,830 shares of the semiconductor provider’s stock worth $2,188,000 after purchasing an additional 750 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of NXP Semiconductors by 6.9% during the first 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 boosted its holdings in shares of NXP Semiconductors by 3.1% during the first quarter. Peterson Wealth Services now owns 1,520 shares of the semiconductor provider’s stock worth $377,000 after purchasing an additional 46 shares during the last quarter. Blue Trust Inc. boosted 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 worth $549,000 after purchasing an additional 628 shares during the last quarter. Finally, Ballast Advisors LLC boosted its holdings 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 purchasing an additional 292 shares during the last quarter. Institutional investors and hedge funds own 90.54% of the company’s stock.

NXP Semiconductors Company Profile

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.