NXP Semiconductors (NASDAQ:NXPI) Price Target Cut to $235.00 by Analysts at Morgan Stanley

NXP Semiconductors (NASDAQ:NXPI) had its target price reduced by Morgan Stanley from $250.00 to $235.00 in a report published on Wednesday,Benzinga reports. They currently have an equal weight rating on the semiconductor provider’s stock.

A number of other equities research analysts have also issued reports on NXPI. Truist Financial cut their target price on shares of NXP Semiconductors from $291.00 to $287.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Mizuho set a $290.00 target price on NXP Semiconductors in a research report on Friday, October 18th. The Goldman Sachs Group lowered their target price on shares of NXP Semiconductors from $285.00 to $277.00 in a research note on Friday, October 11th. Citigroup lifted their price target on shares of NXP Semiconductors from $150.00 to $220.00 and gave the company a “sell” rating in a report on Monday, July 15th. Finally, Needham & Company LLC dropped their price objective on shares of NXP Semiconductors from $300.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $275.60.

NXP Semiconductors Stock Down 0.9 %

NASDAQ:NXPI traded down $2.23 on Wednesday, reaching $233.89. The stock had a trading volume of 2,743,168 shares, compared to its average volume of 2,429,677. The company has a 50-day moving average of $235.72 and a 200 day moving average of $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. The stock has a market cap of $59.45 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 3.08 and a beta of 1.49. NXP Semiconductors has a 12-month low of $179.64 and a 12-month high of $296.08.

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

NXP Semiconductors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Thursday, September 12th were issued a dividend of $1.014 per share. This represents a $4.06 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend was Thursday, September 12th. NXP Semiconductors’s payout ratio is currently 38.74%.

Insider Activity

In related news, EVP Jennifer Wuamett sold 3,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $232.35, for a total transaction of $813,225.00. Following the completion of the sale, the executive vice president now directly owns 30,269 shares of the company’s stock, valued at $7,033,002.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On NXP Semiconductors

Institutional investors have recently bought and sold shares of the stock. Central Pacific Bank Trust Division purchased a new stake in shares of NXP Semiconductors in the 1st quarter valued at approximately $54,000. Texas Permanent School Fund Corp grew its holdings in shares of NXP Semiconductors by 0.9% during the first quarter. Texas Permanent School Fund Corp now owns 53,282 shares of the semiconductor provider’s stock valued at $13,202,000 after buying an additional 460 shares in the last quarter. Advisory Alpha LLC lifted its stake in NXP Semiconductors by 31.0% in the 1st quarter. Advisory Alpha LLC now owns 2,017 shares of the semiconductor provider’s stock worth $500,000 after acquiring an additional 477 shares in the last quarter. Manchester Capital Management LLC boosted its position in NXP Semiconductors by 341.0% during the 1st quarter. Manchester Capital Management LLC now owns 269 shares of the semiconductor provider’s stock worth $67,000 after acquiring an additional 208 shares during the period. Finally, Gallacher Capital Management LLC purchased a new position in NXP Semiconductors during the 1st quarter valued at about $203,000. Hedge funds and other 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.