NXP Semiconductors (NASDAQ:NXPI) Price Target Raised to $291.00

NXP Semiconductors (NASDAQ:NXPI) had its target price lifted by Truist Financial from $265.00 to $291.00 in a research note published on Wednesday morning, Benzinga reports. Truist Financial currently has a buy rating on the semiconductor provider’s stock.

Several other brokerages have also recently issued reports on NXPI. Barclays upgraded NXP Semiconductors from an equal weight rating to an overweight rating and boosted their price target for the company from $200.00 to $260.00 in a research note on Tuesday, January 16th. Oppenheimer raised their price target on NXP Semiconductors from $250.00 to $295.00 and gave the stock an outperform rating in a research report on Wednesday. TD Cowen boosted their target price on shares of NXP Semiconductors from $270.00 to $300.00 and gave the company an outperform rating in a research report on Tuesday, March 12th. Morgan Stanley increased their price target on shares of NXP Semiconductors from $221.00 to $224.00 and gave the stock an equal weight rating in a research report on Wednesday, February 7th. Finally, Stifel Nicolaus upped their target price on NXP Semiconductors from $190.00 to $210.00 and gave the stock a hold rating in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $257.72.

NXP Semiconductors Stock Performance

NASDAQ:NXPI opened at $257.85 on Wednesday. The stock has a 50 day simple moving average of $242.58 and a 200 day simple moving average of $221.15. The stock has a market cap of $65.93 billion, a P/E ratio of 23.81, a PEG ratio of 0.94 and a beta of 1.54. NXP Semiconductors has a 1-year low of $161.23 and a 1-year high of $264.26. The company has a current ratio of 2.35, a quick ratio of 1.39 and a debt-to-equity ratio of 1.11.

NXP Semiconductors (NASDAQ:NXPI) last posted its 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 company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.40 billion. NXP Semiconductors had a return on equity of 37.65% and a net margin of 21.24%. Research analysts anticipate that NXP Semiconductors will post 12.21 earnings per share for the current year.

NXP Semiconductors Dividend Announcement

The company also recently declared 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 dividend payout ratio (DPR) is currently 37.49%.

Institutional Investors Weigh In On NXP Semiconductors

Several institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC increased its stake in shares of NXP Semiconductors by 0.4% in the 3rd quarter. FMR LLC now owns 25,779,812 shares of the semiconductor provider’s stock valued at $5,153,900,000 after acquiring an additional 91,453 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of NXP Semiconductors by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 11,011,534 shares of the semiconductor provider’s stock worth $2,529,129,000 after purchasing an additional 118,562 shares in the last quarter. Norges Bank acquired a new stake in shares of NXP Semiconductors in the 4th quarter valued at about $762,077,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in NXP Semiconductors by 893.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,332,578 shares of the semiconductor provider’s stock valued at $535,747,000 after buying an additional 2,097,727 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in NXP Semiconductors by 4.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,205,035 shares of the semiconductor provider’s stock worth $440,841,000 after buying an additional 92,571 shares during the period. 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.