FY2024 EPS Estimates for NXP Semiconductors Raised by Cantor Fitzgerald (NASDAQ:NXPI)

NXP Semiconductors (NASDAQ:NXPI) – Analysts at Cantor Fitzgerald lifted their FY2024 EPS estimates for NXP Semiconductors in a research report issued on Wednesday, July 24th. Cantor Fitzgerald analyst C. Muse now anticipates that the semiconductor provider will post earnings of $12.84 per share for the year, up from their prior estimate of $12.82. Cantor Fitzgerald has a “Overweight” rating and a $350.00 price objective on the stock. The consensus estimate for NXP Semiconductors’ current full-year earnings is $12.35 per share.

NXP Semiconductors (NASDAQ:NXPI) last posted its quarterly earnings data 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. NXP Semiconductors had a net margin of 21.21% and a return on equity of 35.65%. The company had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period last year, the company earned $3.04 earnings per share. The firm’s revenue was down 5.2% compared to the same quarter last year.

A number of other equities analysts also recently weighed in on NXPI. Jefferies Financial Group began coverage on shares of NXP Semiconductors in a report on Monday, May 13th. They set a “buy” rating and a $325.00 target price on the stock. Oppenheimer boosted their target price on shares of NXP Semiconductors from $295.00 to $330.00 and gave the stock an “outperform” rating in a report on Friday, July 12th. The Goldman Sachs Group boosted their target price on shares of NXP Semiconductors from $240.00 to $275.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Needham & Company LLC boosted their target price on shares of NXP Semiconductors from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, TD Cowen lowered their target price on shares of NXP Semiconductors from $330.00 to $310.00 and set a “buy” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $283.46.

NXP Semiconductors Price Performance

NASDAQ NXPI opened at $247.51 on Friday. The company has a quick ratio of 1.64, a current ratio of 2.21 and a debt-to-equity ratio of 1.04. NXP Semiconductors has a 12-month low of $167.21 and a 12-month high of $296.08. The company has a market capitalization of $63.05 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 2.55 and a beta of 1.49. The firm’s 50 day moving average is $272.75 and its 200-day moving average is $249.39.

NXP Semiconductors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Thursday, June 13th were given a $1.014 dividend. The ex-dividend date was Thursday, June 13th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.64%. NXP Semiconductors’s payout ratio is presently 37.49%.

Insider Activity

In other news, CEO Kurt Sievers sold 8,548 shares of the business’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 owns 177,889 shares of the company’s stock, valued at $49,052,891.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NXP Semiconductors

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in NXP Semiconductors by 5.5% during the second quarter. Bank of New York Mellon Corp now owns 1,533,421 shares of the semiconductor provider’s stock worth $412,628,000 after purchasing an additional 80,087 shares during the period. Catalyst Financial Partners LLC bought a new position in shares of NXP Semiconductors in the second quarter worth about $205,000. Patten Group Inc. lifted its holdings in shares of NXP Semiconductors by 1.2% in the second quarter. Patten Group Inc. now owns 3,454 shares of the semiconductor provider’s stock worth $929,000 after acquiring an additional 42 shares during the last quarter. Calamos Advisors LLC lifted its holdings in shares of NXP Semiconductors by 17.1% in the second quarter. Calamos Advisors LLC now owns 113,169 shares of the semiconductor provider’s stock worth $30,453,000 after acquiring an additional 16,507 shares during the last quarter. Finally, Optas LLC lifted its holdings in shares of NXP Semiconductors by 6.4% in the second quarter. Optas LLC now owns 954 shares of the semiconductor provider’s stock worth $257,000 after acquiring an additional 57 shares during 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.