NXP Semiconductors (NASDAQ:NXPI) Shares Up 7.4% on Analyst Upgrade

NXP Semiconductors (NASDAQ:NXPI) traded up 7.4% during trading on Wednesday after Truist Financial raised their price target on the stock from $245.00 to $258.00. Truist Financial currently has a buy rating on the stock. NXP Semiconductors traded as high as $245.84 and last traded at $245.79. 3,313,547 shares were traded during mid-day trading, an increase of 23% from the average session volume of 2,704,604 shares. The stock had previously closed at $228.86.

Several other analysts have also recently issued reports on NXPI. UBS Group cut their target price on NXP Semiconductors from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Oppenheimer cut their price target on NXP Semiconductors from $330.00 to $300.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Loop Capital assumed coverage on NXP Semiconductors in a report on Monday, November 11th. They set a “buy” rating and a $300.00 price target for the company. StockNews.com cut NXP Semiconductors from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Finally, Susquehanna cut their price target on NXP Semiconductors from $235.00 to $225.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $264.75.

Institutional Investors Weigh In On NXP Semiconductors

Institutional investors and hedge funds have recently modified their holdings of the business. ORG Wealth Partners LLC lifted its stake in shares of NXP Semiconductors by 915.4% during the 4th quarter. ORG Wealth Partners LLC now owns 132 shares of the semiconductor provider’s stock worth $27,000 after acquiring an additional 119 shares during the last quarter. Sound Income Strategies LLC lifted its stake in shares of NXP Semiconductors by 169.2% during the 4th quarter. Sound Income Strategies LLC now owns 140 shares of the semiconductor provider’s stock worth $29,000 after acquiring an additional 88 shares during the last quarter. Smithfield Trust Co bought a new stake in shares of NXP Semiconductors during the 4th quarter worth approximately $32,000. Runnymede Capital Advisors Inc. bought a new stake in shares of NXP Semiconductors during the 4th quarter worth approximately $32,000. Finally, FSA Wealth Management LLC bought a new stake in shares of NXP Semiconductors during the 3rd quarter worth approximately $33,000. 90.54% of the stock is owned by institutional investors.

NXP Semiconductors Price Performance

The company has a current ratio of 2.36, a quick ratio of 1.60 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $62.53 billion, a P/E ratio of 25.30, a price-to-earnings-growth ratio of 2.75 and a beta of 1.46. The stock has a 50 day moving average of $213.39 and a 200-day moving average of $227.73.

NXP Semiconductors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Thursday, December 5th were given a dividend of $1.014 per share. This represents a $4.06 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Thursday, December 5th. NXP Semiconductors’s dividend payout ratio (DPR) is presently 41.73%.

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.