NXP Semiconductors’ (NXPI) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of NXP Semiconductors (NASDAQ:NXPI) in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has a $350.00 price target on the semiconductor provider’s stock. Cantor Fitzgerald also issued estimates for NXP Semiconductors’ FY2024 earnings at $12.84 EPS.

Other equities analysts have also issued research reports about the stock. Mizuho raised shares of NXP Semiconductors from a neutral rating to a buy rating and upped their price target for the stock from $265.00 to $325.00 in a research report on Friday, May 24th. StockNews.com raised shares of NXP Semiconductors from a hold rating to a buy rating in a research report on Wednesday, May 8th. Wells Fargo & Company upped their price target on shares of NXP Semiconductors from $285.00 to $305.00 and gave the stock an overweight rating in a research report on Wednesday, May 22nd. Jefferies Financial Group began coverage on shares of NXP Semiconductors in a research note on Monday, May 13th. They set a buy rating and a $325.00 price objective for the company. Finally, Morgan Stanley boosted their price objective on shares of NXP Semiconductors from $247.00 to $275.00 and gave the stock an equal weight rating in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, NXP Semiconductors presently has an average rating of Moderate Buy and an average price target of $294.89.

NXP Semiconductors Stock Up 2.5 %

Shares of NASDAQ NXPI opened at $253.62 on Tuesday. NXP Semiconductors has a 12-month low of $167.21 and a 12-month high of $296.08. The company has a market capitalization of $64.60 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 2.55 and a beta of 1.49. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.21 and a quick ratio of 1.64. The firm’s 50-day moving average is $272.46 and its two-hundred day moving average is $249.68.

NXP Semiconductors (NASDAQ:NXPI) last posted its quarterly earnings data on Monday, July 22nd. The semiconductor provider reported $3.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.38. The business had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.13 billion. NXP Semiconductors had a net margin of 21.21% and a return on equity of 35.65%. The company’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.04 earnings per share. Equities analysts anticipate that NXP Semiconductors will post 12.35 EPS for the current fiscal year.

NXP Semiconductors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Thursday, June 13th were paid a $1.014 dividend. The ex-dividend date was Thursday, June 13th. This represents a $4.06 annualized dividend and a dividend yield of 1.60%. NXP Semiconductors’s dividend payout ratio (DPR) is presently 37.49%.

Insider Activity

In other news, CEO Kurt Sievers sold 8,548 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $275.75, for a total value of $2,357,111.00. Following the completion of the transaction, the chief executive officer now directly owns 177,889 shares in the company, valued at $49,052,891.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.11% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in NXP Semiconductors by 17.3% during the 1st quarter. Vanguard Group Inc. now owns 12,921,432 shares of the semiconductor provider’s stock valued at $3,201,543,000 after acquiring an additional 1,909,898 shares during the last quarter. Norges Bank bought a new position in NXP Semiconductors during the 4th quarter valued at $762,077,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in NXP Semiconductors by 893.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,332,578 shares of the semiconductor provider’s stock valued at $535,747,000 after acquiring an additional 2,097,727 shares during the last quarter. Van ECK Associates Corp boosted its stake in NXP Semiconductors by 24.6% during the 1st quarter. Van ECK Associates Corp now owns 1,644,696 shares of the semiconductor provider’s stock valued at $407,506,000 after acquiring an additional 325,187 shares during the last quarter. Finally, Putnam Investments LLC boosted its stake in NXP Semiconductors by 4.4% during the 4th quarter. Putnam Investments LLC now owns 1,564,236 shares of the semiconductor provider’s stock valued at $359,274,000 after acquiring an additional 65,741 shares during the last quarter. 90.54% of the stock is currently owned by institutional investors.

NXP Semiconductors Company Profile

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.