Needham & Company LLC Raises NXP Semiconductors (NASDAQ:NXPI) Price Target to $300.00

NXP Semiconductors (NASDAQ:NXPI) had its price objective raised by Needham & Company LLC from $280.00 to $300.00 in a report issued on Tuesday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the semiconductor provider’s stock.

NXPI has been the topic of a number of other reports. Truist Financial increased their price objective on shares of NXP Semiconductors from $265.00 to $291.00 and gave the company a buy rating in a research note on Wednesday, May 1st. Stifel Nicolaus increased their price objective on shares of NXP Semiconductors from $240.00 to $275.00 and gave the company a hold rating in a research note on Thursday, July 18th. Oppenheimer increased their price objective on shares of NXP Semiconductors from $295.00 to $330.00 and gave the company an outperform rating in a research note on Friday, July 12th. Mizuho raised shares of NXP Semiconductors from a neutral rating to a buy rating and increased their price objective for the company from $265.00 to $325.00 in a research note on Friday, May 24th. Finally, Evercore ISI increased their price objective on shares of NXP Semiconductors from $300.00 to $370.00 and gave the company an outperform rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, NXP Semiconductors presently has an average rating of Moderate Buy and an average price target of $294.89.

NXP Semiconductors Stock Performance

Shares of NXPI opened at $253.62 on Tuesday. The company has a 50-day simple moving average of $272.46 and a 200-day simple moving average of $249.68. The company has a quick ratio of 1.64, a current ratio of 2.21 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $64.60 billion, a PE ratio of 23.42, a P/E/G ratio of 2.55 and a beta of 1.49. NXP Semiconductors has a 52-week low of $167.21 and a 52-week high of $296.08.

NXP Semiconductors (NASDAQ:NXPI) last announced its quarterly earnings results on Monday, July 22nd. The semiconductor provider reported $3.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.38. The business had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.13 billion. NXP Semiconductors had a net margin of 21.21% and a return on equity of 35.65%. The business’s revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $3.04 EPS. Equities research analysts predict that NXP Semiconductors will post 12.35 earnings per share for the current fiscal year.

NXP Semiconductors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Thursday, June 13th were given a $1.014 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $4.06 annualized dividend and a dividend yield of 1.60%. NXP Semiconductors’s dividend payout ratio is presently 37.49%.

Insider Activity at NXP Semiconductors

In related news, CEO Kurt Sievers sold 8,548 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $275.75, for a total value of $2,357,111.00. Following the transaction, the chief executive officer now owns 177,889 shares in the company, valued at $49,052,891.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Future Financial Wealth Managment LLC purchased a new position in NXP Semiconductors in the first quarter valued at approximately $25,000. Family Firm Inc. acquired a new stake in NXP Semiconductors during the 2nd quarter valued at $27,000. FinTrust Capital Advisors LLC increased its stake in NXP Semiconductors by 75.4% during the 4th quarter. FinTrust Capital Advisors LLC now owns 114 shares of the semiconductor provider’s stock worth $26,000 after buying an additional 49 shares during the period. LifeSteps Financial Inc. acquired a new position in NXP Semiconductors in the 1st quarter worth $30,000. Finally, Valley National Advisers Inc. boosted its position in NXP Semiconductors by 71.2% in the 2nd quarter. Valley National Advisers Inc. now owns 125 shares of the semiconductor provider’s stock valued at $33,000 after buying an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 90.54% of the company’s stock.

About NXP Semiconductors

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.