Wells Fargo & Company Increases NXP Semiconductors (NASDAQ:NXPI) Price Target to $305.00

NXP Semiconductors (NASDAQ:NXPI) had its price target lifted by equities researchers at Wells Fargo & Company from $285.00 to $305.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 11.84% from the company’s current price.

A number of other research firms also recently weighed in on NXPI. Evercore ISI raised their price target on shares of NXP Semiconductors from $300.00 to $370.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. UBS Group increased their price objective on NXP Semiconductors from $230.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Susquehanna boosted their target price on NXP Semiconductors from $200.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. Cantor Fitzgerald increased their price target on NXP Semiconductors from $290.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. Finally, StockNews.com upgraded shares of NXP Semiconductors from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $265.40.

NXP Semiconductors Price Performance

Shares of NASDAQ:NXPI opened at $272.72 on Wednesday. The firm has a market cap of $69.73 billion, a price-to-earnings ratio of 25.18, a P/E/G ratio of 2.57 and a beta of 1.54. NXP Semiconductors has a 1 year low of $163.26 and a 1 year high of $280.24. The company has a current ratio of 2.35, a quick ratio of 1.64 and a debt-to-equity ratio of 1.11. The business has a fifty day simple moving average of $247.56 and a 200 day simple moving average of $229.90.

NXP Semiconductors (NASDAQ:NXPI) last announced its quarterly earnings results on Monday, April 29th. The semiconductor provider reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.07. NXP Semiconductors had a return on equity of 37.65% and a net margin of 21.24%. The business had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.13 billion. As a group, sell-side analysts predict that NXP Semiconductors will post 12.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of NXP Semiconductors by 0.4% during the 3rd quarter. FMR LLC now owns 25,779,812 shares of the semiconductor provider’s stock worth $5,153,900,000 after buying an additional 91,453 shares during the period. Vanguard Group Inc. lifted its holdings in shares of NXP Semiconductors by 17.3% during the first quarter. Vanguard Group Inc. now owns 12,921,432 shares of the semiconductor provider’s stock valued at $3,201,543,000 after acquiring an additional 1,909,898 shares during the period. Norges Bank acquired a new stake in shares of NXP Semiconductors in the 4th quarter valued at $762,077,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of 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 worth $535,747,000 after purchasing an additional 2,097,727 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of 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 purchasing an additional 92,571 shares in the last quarter. 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.