NXP Semiconductors (NXPI) to Issue Quarterly Dividend of $1.01 on October 9th

NXP Semiconductors (NASDAQ:NXPI) announced a quarterly dividend on Thursday, August 29th, Zacks reports. Stockholders of record on Thursday, September 12th will be given a dividend of 1.014 per share by the semiconductor provider on Wednesday, October 9th. This represents a $4.06 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Thursday, September 12th.

NXP Semiconductors has increased its dividend payment by an average of 39.3% annually over the last three years. NXP Semiconductors has a payout ratio of 26.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect NXP Semiconductors to earn $13.50 per share next year, which means the company should continue to be able to cover its $4.06 annual dividend with an expected future payout ratio of 30.1%.

NXP Semiconductors Stock Performance

Shares of NXPI stock opened at $256.36 on Friday. The business’s 50 day simple moving average is $259.97 and its 200 day simple moving average is $254.88. NXP Semiconductors has a one year low of $167.21 and a one year high of $296.08. The stock has a market capitalization of $65.55 billion, a PE ratio of 23.67, a PEG ratio of 2.63 and a beta of 1.49. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.21 and a quick ratio of 1.52.

NXP Semiconductors (NASDAQ:NXPI) last posted its quarterly earnings results on Monday, July 22nd. The semiconductor provider reported $3.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.38. The firm had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.13 billion. NXP Semiconductors had a return on equity of 35.65% and a net margin of 21.21%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $3.04 EPS. As a group, research analysts forecast that NXP Semiconductors will post 12 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NXPI. Jefferies Financial Group initiated coverage on NXP Semiconductors in a research report on Monday, May 13th. They set a “buy” rating and a $325.00 target price on the stock. Truist Financial reduced their target price on shares of NXP Semiconductors from $291.00 to $287.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Wells Fargo & Company lifted their price objective on NXP Semiconductors from $285.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. Mizuho raised shares of NXP Semiconductors from a “neutral” rating to a “buy” rating and boosted their target price for the company from $265.00 to $325.00 in a report on Friday, May 24th. Finally, Barclays lifted their target price on NXP Semiconductors from $280.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NXP Semiconductors currently has a consensus rating of “Moderate Buy” and an average price target of $294.89.

Insider Activity

In other news, insider Julie Southern bought 146 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was purchased at an average price of $257.54 per share, with a total value of $37,600.84. Following the transaction, the insider now owns 11,297 shares of the company’s stock, valued at $2,909,429.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other NXP Semiconductors news, insider Julie Southern bought 146 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were acquired at an average cost of $257.54 per share, for a total transaction of $37,600.84. Following the purchase, the insider now owns 11,297 shares in the company, valued at approximately $2,909,429.38. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kurt Sievers sold 8,548 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $275.75, for a total value of $2,357,111.00. Following the completion of the transaction, the chief executive officer now owns 177,889 shares in the company, valued at $49,052,891.75. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by corporate insiders.

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.