NXP Semiconductors (NASDAQ:NXPI) Shares Gap Up to $225.61

NXP Semiconductors (NASDAQ:NXPI) shares gapped up before the market opened on Wednesday . The stock had previously closed at $225.61, but opened at $235.46. NXP Semiconductors shares last traded at $235.43, with a volume of 633,389 shares changing hands.

Analysts Set New Price Targets

A number of research firms have recently commented on NXPI. Wolfe Research raised shares of NXP Semiconductors from a “peer perform” rating to an “outperform” rating and set a $255.00 target price for the company in a research note on Thursday, January 18th. TD Cowen increased their target price on NXP Semiconductors from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Tuesday, March 12th. Morgan Stanley lifted their price target on NXP Semiconductors from $221.00 to $224.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Barclays raised NXP Semiconductors from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $200.00 to $260.00 in a research note on Tuesday, January 16th. Finally, Cantor Fitzgerald lifted their target price on shares of NXP Semiconductors from $270.00 to $290.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $242.29.

NXP Semiconductors Stock Up 1.3 %

The stock has a market capitalization of $60.97 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 0.89 and a beta of 1.59. The business has a 50-day moving average of $240.99 and a 200-day moving average of $219.42. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.39 and a current ratio of 1.91.

NXP Semiconductors (NASDAQ:NXPI) last released its quarterly earnings results on Monday, February 5th. The semiconductor provider reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.04. The business had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.40 billion. NXP Semiconductors had a net margin of 21.07% and a return on equity of 38.94%. On average, sell-side analysts expect that NXP Semiconductors will post 12.28 EPS for the current year.

NXP Semiconductors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Thursday, March 21st were issued a $1.014 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $4.06 annualized dividend and a dividend yield of 1.70%. NXP Semiconductors’s dividend payout ratio is presently 37.91%.

Hedge Funds Weigh In On NXP Semiconductors

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its holdings in shares of NXP Semiconductors by 46.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 89,297 shares of the semiconductor provider’s stock valued at $20,510,000 after purchasing an additional 28,518 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of NXP Semiconductors by 29.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 125,594 shares of the semiconductor provider’s stock worth $28,846,000 after acquiring an additional 28,758 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in shares of NXP Semiconductors by 27.0% during the fourth quarter. Stratos Wealth Partners LTD. now owns 4,788 shares of the semiconductor provider’s stock worth $1,100,000 after acquiring an additional 1,019 shares during the period. Handelsbanken Fonder AB raised its stake in shares of NXP Semiconductors by 33.4% in the fourth quarter. Handelsbanken Fonder AB now owns 136,364 shares of the semiconductor provider’s stock valued at $31,320,000 after acquiring an additional 34,131 shares in the last quarter. Finally, Invera Wealth Advisors LLC acquired a new position in NXP Semiconductors during the 4th quarter worth $1,786,000. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

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.