NXP Semiconductors (NASDAQ:NXPI) Price Target Increased to $370.00 by Analysts at Evercore ISI

NXP Semiconductors (NASDAQ:NXPI) had its price target boosted by Evercore ISI from $300.00 to $370.00 in a report published on Wednesday, Benzinga reports. They currently have an outperform rating on the semiconductor provider’s stock.

Several other brokerages have also recently issued reports on NXPI. Susquehanna boosted their price target on NXP Semiconductors from $200.00 to $225.00 and gave the company a neutral rating in a research report on Wednesday, February 7th. Truist Financial upped their price target on NXP Semiconductors from $265.00 to $291.00 and gave the stock a buy rating in a research note on Wednesday. Mizuho lifted their price objective on shares of NXP Semiconductors from $225.00 to $265.00 and gave the company a neutral rating in a research report on Wednesday. TD Cowen upped their price objective on shares of NXP Semiconductors from $270.00 to $300.00 and gave the stock an outperform rating in a research report on Tuesday, March 12th. Finally, StockNews.com cut shares of NXP Semiconductors from a buy rating to a hold rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $257.72.

NXP Semiconductors Price Performance

NXPI stock opened at $257.85 on Wednesday. The company has a current ratio of 2.35, a quick ratio of 1.39 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $65.93 billion, a P/E ratio of 23.81, a PEG ratio of 0.94 and a beta of 1.54. The business has a 50 day simple moving average of $242.58 and a 200-day simple moving average of $221.15. NXP Semiconductors has a twelve month low of $161.23 and a twelve month high of $264.26.

NXP Semiconductors (NASDAQ:NXPI) last issued its quarterly earnings results on Monday, February 5th. The semiconductor provider reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.04. The firm had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.40 billion. NXP Semiconductors had a net margin of 21.24% and a return on equity of 37.65%. As a group, equities analysts anticipate that NXP Semiconductors will post 12.21 EPS for the current year.

NXP Semiconductors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Thursday, March 21st were given a dividend of $1.014 per share. The ex-dividend date was Wednesday, March 20th. This represents a $4.06 dividend on an annualized basis and a yield of 1.57%. NXP Semiconductors’s payout ratio is 37.49%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its holdings in NXP Semiconductors by 46.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 89,297 shares of the semiconductor provider’s stock valued at $20,510,000 after acquiring an additional 28,518 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of NXP Semiconductors by 29.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 125,594 shares of the semiconductor provider’s stock worth $28,846,000 after purchasing an additional 28,758 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in shares of NXP Semiconductors by 27.0% during the 4th quarter. Stratos Wealth Partners LTD. now owns 4,788 shares of the semiconductor provider’s stock worth $1,100,000 after purchasing an additional 1,019 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in NXP Semiconductors by 33.4% in the 4th quarter. Handelsbanken Fonder AB now owns 136,364 shares of the semiconductor provider’s stock valued at $31,320,000 after buying an additional 34,131 shares in the last quarter. Finally, Heritage Wealth Management LLC acquired a new stake in NXP Semiconductors during the 4th quarter valued at $845,000. 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.