NXP Semiconductors (NASDAQ:NXPI) PT Raised to $291.00 at Truist Financial

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

Several other research firms have also commented on NXPI. Susquehanna raised their price objective on NXP Semiconductors from $200.00 to $225.00 and gave the company a neutral rating in a research report on Wednesday, February 7th. TD Cowen upped their price target on NXP Semiconductors from $270.00 to $300.00 and gave the stock an outperform rating in a report on Tuesday, March 12th. Oppenheimer lifted their price objective on shares of NXP Semiconductors from $250.00 to $295.00 and gave the company an outperform rating in a research note on Wednesday. Cantor Fitzgerald restated an overweight rating and issued a $290.00 target price on shares of NXP Semiconductors in a research note on Tuesday. Finally, Stifel Nicolaus lifted their price target on shares of NXP Semiconductors from $190.00 to $210.00 and gave the stock a hold rating in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, NXP Semiconductors has an average rating of Moderate Buy and a consensus target price of $257.72.

NXP Semiconductors Stock Performance

NASDAQ NXPI opened at $257.85 on Wednesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.35 and a quick ratio of 1.39. NXP Semiconductors has a 1-year low of $161.23 and a 1-year high of $264.26. The firm has a market capitalization of $65.93 billion, a P/E ratio of 23.81, a P/E/G ratio of 0.94 and a beta of 1.54. The business’s 50-day simple moving average is $242.58 and its 200-day simple moving average is $221.15.

NXP Semiconductors (NASDAQ:NXPI) last announced its quarterly earnings results on Monday, February 5th. The semiconductor provider reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.33 by $0.04. NXP Semiconductors had a net margin of 21.24% and a return on equity of 37.65%. The firm had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Equities analysts predict 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 paid a $1.014 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $4.06 dividend on an annualized basis and a yield of 1.57%. NXP Semiconductors’s payout ratio is currently 37.49%.

Hedge Funds Weigh In On NXP Semiconductors

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