NXP Semiconductors (NASDAQ:NXPI) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of NXP Semiconductors (NASDAQ:NXPI) in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a $350.00 price objective on the semiconductor provider’s stock.

A number of other brokerages have also issued reports on NXPI. Jefferies Financial Group initiated coverage on NXP Semiconductors in a report on Monday, May 13th. They issued a buy rating and a $325.00 price target for the company. Oppenheimer upped their target price on NXP Semiconductors from $295.00 to $330.00 and gave the stock an outperform rating in a report on Friday, July 12th. Citigroup upped their target price on NXP Semiconductors from $150.00 to $220.00 and gave the stock a sell rating in a report on Monday, July 15th. Barclays upped their target price on NXP Semiconductors from $280.00 to $330.00 and gave the stock an overweight rating in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. upped their target price on NXP Semiconductors from $240.00 to $280.00 and gave the stock a neutral rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, NXP Semiconductors has a consensus rating of Moderate Buy and a consensus target price of $283.46.

NXP Semiconductors Trading Down 2.4 %

Shares of NASDAQ:NXPI traded down $6.25 during trading hours on Tuesday, hitting $256.05. 1,580,864 shares of the company’s stock traded hands, compared to its average volume of 2,194,154. NXP Semiconductors has a 1 year low of $167.21 and a 1 year high of $296.08. The business has a fifty day moving average price of $273.54 and a 200-day moving average price of $249.37. The firm has a market capitalization of $65.47 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 2.65 and a beta of 1.49. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.35 and a quick ratio of 1.64.

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 firm had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.13 billion. NXP Semiconductors had a return on equity of 36.13% and a net margin of 21.21%. NXP Semiconductors’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.04 earnings per share. Equities analysts expect that NXP Semiconductors will post 12.47 earnings per share for the current year.

NXP Semiconductors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Thursday, June 13th were paid a dividend of $1.014 per share. The ex-dividend date was Thursday, June 13th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.58%. NXP Semiconductors’s payout ratio is currently 37.49%.

Insider Buying and Selling at NXP Semiconductors

In other news, CEO Kurt Sievers sold 8,548 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 177,889 shares of the company’s stock, valued at $49,052,891.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. &PARTNERS acquired a new stake in shares of NXP Semiconductors in the second quarter valued at approximately $457,000. Griffin Asset Management Inc. increased its stake in NXP Semiconductors by 1.3% during the 2nd quarter. Griffin Asset Management Inc. now owns 4,394 shares of the semiconductor provider’s stock worth $1,182,000 after buying an additional 55 shares during the period. Busey Bank increased its stake in NXP Semiconductors by 6.2% during the 2nd quarter. Busey Bank now owns 1,779 shares of the semiconductor provider’s stock worth $479,000 after buying an additional 104 shares during the period. Fifth Third Wealth Advisors LLC purchased a new stake in NXP Semiconductors during the 2nd quarter worth $533,000. Finally, Prossimo Advisors LLC grew its holdings in NXP Semiconductors by 33.6% during the 2nd quarter. Prossimo Advisors LLC now owns 3,081 shares of the semiconductor provider’s stock worth $829,000 after acquiring an additional 775 shares in the last quarter. 90.54% of the stock is owned by hedge funds and other institutional investors.

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.