NXP Semiconductors (NASDAQ:NXPI) Price Target Raised to $324.40

NXP Semiconductors (NASDAQ:NXPI) had its price target upped by Arete from $273.90 to $324.40 in a research note issued to investors on Monday morning,MarketScreener reports. Arete currently has a buy rating on the semiconductor provider’s stock.

A number of other research firms have also commented on NXPI. TD Cowen lowered their target price on shares of NXP Semiconductors from $270.00 to $260.00 and set a “buy” rating for the company in a report on Friday, October 10th. Truist Financial raised their price target on NXP Semiconductors from $252.00 to $254.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Arete Research lifted their price objective on NXP Semiconductors from $273.90 to $324.40 and gave the stock a “buy” rating in a research note on Monday. Sanford C. Bernstein set a $220.00 target price on NXP Semiconductors and gave the company a “market perform” rating in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. raised their target price on NXP Semiconductors from $240.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, NXP Semiconductors has an average rating of “Moderate Buy” and a consensus price target of $260.04.

NXP Semiconductors Trading Up 1.2%

Shares of NXPI opened at $230.78 on Monday. The stock’s fifty day simple moving average is $210.72 and its 200-day simple moving average is $217.13. The firm has a market capitalization of $58.08 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 3.39 and a beta of 1.46. NXP Semiconductors has a 12-month low of $148.09 and a 12-month high of $255.45. The company has a quick ratio of 1.69, a current ratio of 2.37 and a debt-to-equity ratio of 1.09.

NXP Semiconductors (NASDAQ:NXPI) last announced its quarterly earnings data on Tuesday, October 28th. The semiconductor provider reported $3.11 earnings per share for the quarter, missing the consensus estimate of $3.12 by ($0.01). The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.15 billion. NXP Semiconductors had a return on equity of 26.92% and a net margin of 17.11%.The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.45 earnings per share. As a group, research analysts predict that NXP Semiconductors will post 10.28 earnings per share for the current year.

NXP Semiconductors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 7th. Stockholders of record on Wednesday, December 10th will be issued a dividend of $1.014 per share. This represents a $4.06 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Wednesday, December 10th. NXP Semiconductors’s payout ratio is 50.25%.

Insiders Place Their Bets

In other news, EVP Christopher L. Jensen sold 2,300 shares of the stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $228.17, for a total transaction of $524,791.00. Following the completion of the sale, the executive vice president owned 9,965 shares of the company’s stock, valued at $2,273,714.05. This represents a 18.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jennifer Wuamett sold 8,372 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $207.01, for a total transaction of $1,733,087.72. Following the sale, the executive vice president owned 19,175 shares in the company, valued at approximately $3,969,416.75. The trade was a 30.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,672 shares of company stock valued at $2,474,089 in the last quarter. 0.12% of the stock is owned by company insiders.

Institutional Trading of NXP Semiconductors

A number of institutional investors have recently made changes to their positions in NXPI. Norges Bank acquired a new stake in NXP Semiconductors in the 2nd quarter valued at $453,050,000. Wellington Management Group LLP boosted its stake in shares of NXP Semiconductors by 11.9% during the 3rd quarter. Wellington Management Group LLP now owns 12,583,718 shares of the semiconductor provider’s stock worth $2,865,690,000 after buying an additional 1,333,920 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of NXP Semiconductors by 307.7% in the 3rd quarter. SG Americas Securities LLC now owns 1,179,129 shares of the semiconductor provider’s stock valued at $268,523,000 after acquiring an additional 889,883 shares in the last quarter. Boston Partners increased its position in shares of NXP Semiconductors by 73.6% in the second quarter. Boston Partners now owns 2,086,769 shares of the semiconductor provider’s stock valued at $454,862,000 after acquiring an additional 884,403 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in NXP Semiconductors by 33.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,342,675 shares of the semiconductor provider’s stock worth $635,310,000 after acquiring an additional 839,113 shares in the last quarter. 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.