NXP Semiconductors (NASDAQ:NXPI) Releases Quarterly Earnings Results, Beats Expectations By $0.38 EPS

NXP Semiconductors (NASDAQ:NXPI) issued its quarterly earnings data on Monday. The semiconductor provider reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.38, Briefing.com reports. The business had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.13 billion. NXP Semiconductors had a return on equity of 37.65% and a net margin of 21.24%. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.04 EPS. NXP Semiconductors updated its Q3 guidance to $3.21-3.63 EPS and its Q3 2024 guidance to 3.210-3.630 EPS.

NXP Semiconductors Stock Performance

Shares of NXP Semiconductors stock opened at $283.81 on Tuesday. The stock’s fifty day moving average is $273.65 and its two-hundred day moving average is $248.97. The company has a market capitalization of $72.56 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 2.52 and a beta of 1.49. The company has a quick ratio of 1.64, a current ratio of 2.35 and a debt-to-equity ratio of 1.11. NXP Semiconductors has a 52 week low of $167.21 and a 52 week high of $296.08.

NXP Semiconductors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Thursday, June 13th were given a $1.014 dividend. This represents a $4.06 annualized dividend and a yield of 1.43%. The ex-dividend date was Thursday, June 13th. NXP Semiconductors’s dividend payout ratio (DPR) is presently 37.49%.

Wall Street Analyst Weigh In

NXPI has been the topic of several recent research reports. Evercore ISI upped their price objective on NXP Semiconductors from $300.00 to $370.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Barclays upped their price objective on NXP Semiconductors from $280.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Argus upped their price objective on NXP Semiconductors from $260.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. The Goldman Sachs Group upped their price objective on NXP Semiconductors from $240.00 to $275.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Finally, UBS Group increased their price target on NXP Semiconductors from $230.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $282.54.

Insider Buying and Selling at NXP Semiconductors

In other NXP Semiconductors news, CEO Kurt Sievers sold 8,548 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $275.75, for a total value of $2,357,111.00. Following the transaction, the chief executive officer now owns 177,889 shares of the company’s stock, valued at approximately $49,052,891.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

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.