NXP Semiconductors (NASDAQ:NXPI) Releases Earnings Results, Beats Expectations By $0.38 EPS

NXP Semiconductors (NASDAQ:NXPI) issued its earnings results on Monday. The semiconductor provider reported $3.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.38, Briefing.com reports. The business 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 revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.04 EPS. NXP Semiconductors updated its Q3 guidance to $3.21-3.63 EPS and its Q3 2024 guidance to 3.210-3.630 EPS.

NXP Semiconductors Stock Down 2.1 %

NXPI stock traded down $5.52 on Wednesday, hitting $256.78. 2,511,552 shares of the company’s stock were exchanged, compared to its average volume of 2,200,755. NXP Semiconductors has a 12-month low of $167.21 and a 12-month high of $296.08. The firm has a 50 day moving average price of $273.54 and a two-hundred day moving average price of $249.37. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.64 and a current ratio of 2.35. The stock has a market cap of $65.65 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 2.65 and a beta of 1.49.

NXP Semiconductors Dividend Announcement

The firm 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 annualized dividend and a yield of 1.58%. NXP Semiconductors’s dividend payout ratio (DPR) is 37.49%.

Insider Buying and Selling

In related news, CEO Kurt Sievers sold 8,548 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $275.75, for a total transaction of $2,357,111.00. Following the transaction, the chief executive officer now directly owns 177,889 shares in the company, valued at approximately $49,052,891.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NXPI has been the subject of a number of research analyst reports. TD Cowen decreased their target price on NXP Semiconductors from $330.00 to $310.00 and set a “buy” rating for the company in a research report on Wednesday. StockNews.com raised NXP Semiconductors from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. Stifel Nicolaus lifted their target price on NXP Semiconductors from $240.00 to $275.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Mizuho raised NXP Semiconductors from a “neutral” rating to a “buy” rating and lifted their target price for the company from $265.00 to $325.00 in a research report on Friday, May 24th. Finally, Oppenheimer lifted their target price on NXP Semiconductors from $295.00 to $330.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $283.46.

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.