Truist Financial Forecasts Strong Price Appreciation for NXP Semiconductors (NASDAQ:NXPI) Stock

NXP Semiconductors (NASDAQ:NXPI) had its target price raised by Truist Financial from $245.00 to $258.00 in a report published on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the semiconductor provider’s stock.

Several other equities research analysts also recently commented on NXPI. Citigroup upgraded NXP Semiconductors from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $200.00 to $210.00 in a report on Wednesday, February 5th. The Goldman Sachs Group upgraded NXP Semiconductors from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $260.00 to $257.00 in a report on Friday, January 10th. Evercore ISI reduced their price objective on NXP Semiconductors from $370.00 to $315.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Stifel Nicolaus reduced their price objective on NXP Semiconductors from $231.00 to $210.00 and set a “hold” rating for the company in a report on Wednesday, February 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 price objective on shares of NXP Semiconductors in a report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, NXP Semiconductors presently has an average rating of “Moderate Buy” and an average price target of $267.00.

NXP Semiconductors Price Performance

NASDAQ NXPI opened at $245.86 on Tuesday. NXP Semiconductors has a one year low of $198.21 and a one year high of $296.08. The stock has a 50-day moving average of $214.47 and a 200 day moving average of $227.98. The company has a market capitalization of $62.49 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 2.80 and a beta of 1.46. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.60 and a current ratio of 2.36.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Mackenzie Financial Corp lifted its position in shares of NXP Semiconductors by 8.5% during the 4th quarter. Mackenzie Financial Corp now owns 163,989 shares of the semiconductor provider’s stock valued at $34,085,000 after buying an additional 12,845 shares in the last quarter. Forum Financial Management LP lifted its holdings in NXP Semiconductors by 92.1% in the 4th quarter. Forum Financial Management LP now owns 2,451 shares of the semiconductor provider’s stock worth $509,000 after purchasing an additional 1,175 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in NXP Semiconductors in the 4th quarter worth approximately $10,012,000. Vise Technologies Inc. lifted its holdings in NXP Semiconductors by 70.8% in the 4th quarter. Vise Technologies Inc. now owns 2,492 shares of the semiconductor provider’s stock worth $518,000 after purchasing an additional 1,033 shares in the last quarter. Finally, Novem Group purchased a new position in NXP Semiconductors in the 4th quarter worth approximately $3,178,000. 90.54% of the stock is owned by hedge funds and other 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.