NXP Semiconductors (NASDAQ:NXPI) Stock Rating Upgraded by The Goldman Sachs Group

NXP Semiconductors (NASDAQ:NXPI) was upgraded by stock analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued on Friday,Benzinga reports. The brokerage presently has a $257.00 price objective on the semiconductor provider’s stock, down from their prior price objective of $260.00. The Goldman Sachs Group’s price objective points to a potential upside of 22.54% from the stock’s previous close.

Several other equities research analysts have also commented on the company. Evercore ISI dropped their price target on NXP Semiconductors from $370.00 to $315.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Susquehanna dropped their target price on shares of NXP Semiconductors from $260.00 to $250.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Wells Fargo & Company assumed coverage on shares of NXP Semiconductors in a report on Friday, November 22nd. They issued an “overweight” rating and a $250.00 price target on the stock. Needham & Company LLC decreased their price objective on shares of NXP Semiconductors from $300.00 to $250.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, UBS Group cut their target price on shares of NXP Semiconductors from $285.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $273.19.

NXP Semiconductors Price Performance

NXPI opened at $209.72 on Friday. NXP Semiconductors has a 1 year low of $201.58 and a 1 year high of $296.08. The company’s 50 day simple moving average is $220.26 and its 200 day simple moving average is $238.76. The stock has a market capitalization of $53.30 billion, a PE ratio of 20.01, a P/E/G ratio of 4.37 and a beta of 1.47. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.60 and a current ratio of 2.35.

NXP Semiconductors (NASDAQ:NXPI) last announced its quarterly earnings results on Monday, November 4th. The semiconductor provider reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.02. NXP Semiconductors had a net margin of 20.98% and a return on equity of 33.57%. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same quarter last year, the business earned $3.31 EPS. NXP Semiconductors’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, sell-side analysts expect that NXP Semiconductors will post 11.33 EPS for the current year.

Institutional Trading of NXP Semiconductors

A number of hedge funds and other institutional investors have recently made changes to their positions in NXPI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in NXP Semiconductors by 387.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,294,340 shares of the semiconductor provider’s stock worth $550,665,000 after acquiring an additional 1,823,650 shares in the last quarter. Van ECK Associates Corp grew its stake in NXP Semiconductors by 67.2% in the third quarter. Van ECK Associates Corp now owns 3,041,129 shares of the semiconductor provider’s stock worth $718,680,000 after purchasing an additional 1,222,736 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in NXP Semiconductors by 337.2% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 939,924 shares of the semiconductor provider’s stock valued at $225,591,000 after buying an additional 724,951 shares during the last quarter. International Assets Investment Management LLC raised its stake in NXP Semiconductors by 24,533.2% during the third quarter. International Assets Investment Management LLC now owns 514,341 shares of the semiconductor provider’s stock valued at $123,447,000 after buying an additional 512,253 shares in the last quarter. Finally, Ceredex Value Advisors LLC acquired a new stake in NXP Semiconductors during the third quarter valued at approximately $84,901,000. 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.