Evercore ISI Cuts NXP Semiconductors (NASDAQ:NXPI) Price Target to $315.00

by · The Markets Daily

NXP Semiconductors (NASDAQ:NXPI – Free Report) had its target price trimmed by Evercore ISI from $370.00 to $315.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the semiconductor provider’s stock.

Several other research firms have also issued reports on NXPI. Cantor Fitzgerald reiterated an “overweight” rating and set a $270.00 target price on shares of NXP Semiconductors in a report on Monday, November 4th. Truist Financial dropped their target price on NXP Semiconductors from $287.00 to $252.00 and set a “buy” rating on the stock in a report on Wednesday. Susquehanna reduced their price target on NXP Semiconductors from $260.00 to $250.00 and set a “neutral” rating for the company in a report on Wednesday. Citic Securities assumed coverage on NXP Semiconductors in a research report on Friday, October 11th. They issued a $288.00 price target for the company. Finally, Citigroup increased their price objective on shares of NXP Semiconductors from $150.00 to $220.00 and gave the company a “sell” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $275.60.

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NXP Semiconductors Trading Down 0.9 %

NASDAQ NXPI traded down $2.23 on Wednesday, hitting $233.89. The company’s stock had a trading volume of 2,743,168 shares, compared to its average volume of 2,429,677. The firm has a market cap of $59.45 billion, a P/E ratio of 22.32, a PEG ratio of 3.08 and a beta of 1.49. The company’s 50-day simple moving average is $235.72 and its 200 day simple moving average is $253.17. NXP Semiconductors has a 52-week low of $179.64 and a 52-week high of $296.08. The company has a current ratio of 2.35, a quick ratio of 1.52 and a debt-to-equity ratio of 0.99.

NXP Semiconductors (NASDAQ:NXPI – Get Free Report) last announced its earnings results on Monday, November 4th. The semiconductor provider reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.02. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.25 billion. NXP Semiconductors had a net margin of 20.98% and a return on equity of 33.57%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.31 EPS. Research analysts predict that NXP Semiconductors will post 11.94 EPS for the current fiscal year.

NXP Semiconductors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Thursday, September 12th were given a dividend of $1.014 per share. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Thursday, September 12th. NXP Semiconductors’s payout ratio is 38.74%.

Insider Buying and Selling

In other NXP Semiconductors news, EVP Jennifer Wuamett sold 3,500 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $232.35, for a total transaction of $813,225.00. Following the completion of the sale, the executive vice president now owns 30,269 shares of the company’s stock, valued at approximately $7,033,002.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.11% of the stock is owned by insiders.

Institutional Trading of NXP Semiconductors

Institutional investors and hedge funds have recently modified their holdings of the company. Family Firm Inc. purchased a new stake in shares of NXP Semiconductors during the second quarter worth about $27,000. Addison Advisors LLC raised its position in shares of NXP Semiconductors by 224.2% during the second quarter. Addison Advisors LLC now owns 107 shares of the semiconductor provider’s stock valued at $29,000 after buying an additional 74 shares during the last quarter. Valley National Advisers Inc. lifted its holdings in shares of NXP Semiconductors by 71.2% in the second quarter. Valley National Advisers Inc. now owns 125 shares of the semiconductor provider’s stock worth $33,000 after buying an additional 52 shares in the last quarter. Beacon Capital Management LLC grew its stake in NXP Semiconductors by 36.4% during the first quarter. Beacon Capital Management LLC now owns 150 shares of the semiconductor provider’s stock valued at $37,000 after acquiring an additional 40 shares in the last quarter. Finally, Fortitude Family Office LLC increased its holdings in NXP Semiconductors by 615.0% in the 2nd quarter. Fortitude Family Office LLC now owns 143 shares of the semiconductor provider’s stock valued at $38,000 after acquiring an additional 123 shares during the last quarter. 90.54% of the stock is currently owned by institutional investors.

About NXP Semiconductors

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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.

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