Needham & Company LLC Cuts NXP Semiconductors (NASDAQ:NXPI) Price Target to $250.00

NXP Semiconductors (NASDAQ:NXPI) had its price objective lowered by Needham & Company LLC from $300.00 to $250.00 in a report released on Wednesday,Benzinga reports. The firm currently has a buy rating on the semiconductor provider’s stock.

A number of other brokerages also recently weighed in on NXPI. Citigroup lifted their target price on shares of NXP Semiconductors from $150.00 to $220.00 and gave the stock a “sell” rating in a research note on Monday, July 15th. Barclays dropped their price objective on NXP Semiconductors from $330.00 to $280.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Oppenheimer decreased their target price on NXP Semiconductors from $330.00 to $300.00 and set an “outperform” rating for the company in a research note on Wednesday. Truist Financial dropped their price target on NXP Semiconductors from $291.00 to $287.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, TD Cowen cut their price target on NXP Semiconductors from $330.00 to $310.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, NXP Semiconductors has an average rating of “Moderate Buy” and an average price target of $275.60.

NXP Semiconductors Trading Down 0.9 %

NASDAQ NXPI opened at $233.89 on Wednesday. The firm has a market capitalization of $59.45 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 3.08 and a beta of 1.49. The business’s 50-day moving average price is $235.72 and its two-hundred day moving average price is $253.17. The company has a current ratio of 2.35, a quick ratio of 1.52 and a debt-to-equity ratio of 0.99. NXP Semiconductors has a 12 month low of $179.64 and a 12 month high of $296.08.

NXP Semiconductors (NASDAQ:NXPI) last announced its earnings results on Monday, November 4th. The semiconductor provider reported $3.45 EPS for the quarter, beating the consensus estimate of $3.43 by $0.02. NXP Semiconductors had a return on equity of 33.57% and a net margin of 20.98%. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same period in the prior year, the business posted $3.31 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis. On average, analysts expect that NXP Semiconductors will post 11.94 EPS for the current year.

NXP Semiconductors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Thursday, September 12th were paid a dividend of $1.014 per share. This represents a $4.06 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Thursday, September 12th. NXP Semiconductors’s dividend payout ratio (DPR) is presently 38.74%.

Insider Activity

In related news, EVP Jennifer Wuamett sold 3,500 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $232.35, for a total transaction of $813,225.00. Following the transaction, the executive vice president now directly owns 30,269 shares in the company, valued at approximately $7,033,002.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NXP Semiconductors

Several hedge funds have recently modified their holdings of NXPI. Vanguard Group Inc. lifted its holdings in NXP Semiconductors by 17.3% during the first quarter. Vanguard Group Inc. now owns 12,921,432 shares of the semiconductor provider’s stock worth $3,201,543,000 after acquiring an additional 1,909,898 shares during the period. Van ECK Associates Corp grew its position in shares of NXP Semiconductors by 67.2% during the 3rd quarter. Van ECK Associates Corp now owns 3,041,129 shares of the semiconductor provider’s stock valued at $718,680,000 after acquiring an additional 1,222,736 shares during the period. Ameriprise Financial Inc. increased its stake in shares of NXP Semiconductors by 5.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,428,779 shares of the semiconductor provider’s stock worth $653,567,000 after purchasing an additional 118,366 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of NXP Semiconductors by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 2,271,866 shares of the semiconductor provider’s stock worth $611,336,000 after purchasing an additional 35,104 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in NXP Semiconductors by 5.5% in the second quarter. Bank of New York Mellon Corp now owns 1,533,421 shares of the semiconductor provider’s stock valued at $412,628,000 after purchasing an additional 80,087 shares during the last quarter. Institutional investors own 90.54% of the company’s stock.

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.