TD Cowen Trims NXP Semiconductors (NASDAQ:NXPI) Target Price to $310.00

NXP Semiconductors (NASDAQ:NXPI) had its price objective lowered by TD Cowen from $330.00 to $310.00 in a research report sent to investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the semiconductor provider’s stock.

A number of other research analysts have also recently issued reports on NXPI. Citigroup raised their price objective on NXP Semiconductors from $150.00 to $220.00 and gave the company a sell rating in a research note on Monday, July 15th. Mizuho raised NXP Semiconductors from a neutral rating to a buy rating and raised their price objective for the company from $265.00 to $325.00 in a research note on Friday, May 24th. Oppenheimer raised their price objective on NXP Semiconductors from $295.00 to $330.00 and gave the company an outperform rating in a research note on Friday, July 12th. UBS Group raised their price objective on NXP Semiconductors from $230.00 to $270.00 and gave the company a neutral rating in a research note on Wednesday, May 1st. Finally, Barclays raised their price objective on NXP Semiconductors from $280.00 to $330.00 and gave the company an overweight rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, NXP Semiconductors currently has a consensus rating of Moderate Buy and a consensus target price of $294.89.

NXP Semiconductors Stock Up 2.5 %

NXPI opened at $253.62 on Wednesday. The stock has a market cap of $64.60 billion, a PE ratio of 23.42, a P/E/G ratio of 2.64 and a beta of 1.49. The company has a quick ratio of 1.64, a current ratio of 2.21 and a debt-to-equity ratio of 1.04. NXP Semiconductors has a 52 week low of $167.21 and a 52 week high of $296.08. The business’s fifty day simple moving average is $272.46 and its 200 day simple moving average is $249.68.

NXP Semiconductors (NASDAQ:NXPI) last released its earnings results on Monday, July 22nd. The semiconductor provider reported $3.20 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.38. 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 35.65% and a net margin of 21.21%. The firm’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.04 earnings per share. As a group, research analysts expect that NXP Semiconductors will post 12.11 earnings per share for the current fiscal year.

NXP Semiconductors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Thursday, June 13th were paid a dividend of $1.014 per share. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Thursday, June 13th. NXP Semiconductors’s dividend payout ratio is 37.49%.

Insider Buying and Selling at NXP Semiconductors

In other NXP Semiconductors news, CEO Kurt Sievers sold 8,548 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $275.75, for a total transaction of $2,357,111.00. Following the completion of the transaction, the chief executive officer now owns 177,889 shares of the company’s stock, 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 Investors Weigh In On NXP Semiconductors

Several institutional investors and hedge funds have recently made changes to their positions in the company. HB Wealth Management LLC increased its position in shares of NXP Semiconductors by 79.7% during the second quarter. HB Wealth Management LLC now owns 3,368 shares of the semiconductor provider’s stock valued at $906,000 after acquiring an additional 1,494 shares in the last quarter. Kintegral Advisory LLC increased its position in shares of NXP Semiconductors by 20.7% during the second quarter. Kintegral Advisory LLC now owns 12,668 shares of the semiconductor provider’s stock valued at $3,419,000 after acquiring an additional 2,173 shares in the last quarter. Ballast Advisors LLC increased its position in shares of NXP Semiconductors by 7.6% during the second quarter. Ballast Advisors LLC now owns 7,233 shares of the semiconductor provider’s stock valued at $1,946,000 after acquiring an additional 510 shares in the last quarter. Conning Inc. increased its position in shares of NXP Semiconductors by 6.8% during the second quarter. Conning Inc. now owns 1,776 shares of the semiconductor provider’s stock valued at $478,000 after acquiring an additional 113 shares in the last quarter. Finally, McClarren Financial Advisors Inc. increased its position in shares of NXP Semiconductors by 8,866.7% during the second quarter. McClarren Financial Advisors Inc. now owns 269 shares of the semiconductor provider’s stock valued at $72,000 after acquiring an additional 266 shares in the last quarter. Institutional investors own 90.54% of the company’s stock.

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.