Truist Financial Trims NXP Semiconductors (NASDAQ:NXPI) Target Price to $287.00

NXP Semiconductors (NASDAQ:NXPI) had its target price trimmed by Truist Financial from $291.00 to $287.00 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the semiconductor provider’s stock.

NXPI has been the subject of several other reports. Citigroup boosted their price target on NXP Semiconductors from $150.00 to $220.00 and gave the company a sell rating in a report on Monday, July 15th. Argus boosted their price target on NXP Semiconductors from $260.00 to $300.00 and gave the company a buy rating in a report on Wednesday, May 1st. StockNews.com upgraded NXP Semiconductors from a hold rating to a buy rating in a report on Wednesday, May 8th. Morgan Stanley boosted their price target on NXP Semiconductors from $247.00 to $275.00 and gave the company an equal weight rating in a report on Thursday, July 11th. Finally, Evercore ISI boosted their price target on NXP Semiconductors from $300.00 to $370.00 and gave the company an outperform rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $294.89.

NXP Semiconductors Price Performance

NXPI stock opened at $253.62 on Wednesday. NXP Semiconductors has a 1 year low of $167.21 and a 1 year high of $296.08. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.64 and a current ratio of 2.21. The stock’s 50 day moving average price is $272.46 and its 200 day moving average price is $249.94. The firm has a market cap of $64.85 billion, a P/E ratio of 23.42, a PEG ratio of 2.64 and a beta of 1.49.

NXP Semiconductors (NASDAQ:NXPI) last posted its 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. NXP Semiconductors had a return on equity of 35.65% and a net margin of 21.21%. The firm had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the company earned $3.04 EPS. NXP Semiconductors’s revenue was down 5.2% on a year-over-year basis. On average, sell-side analysts expect that NXP Semiconductors will post 12.11 earnings per share for the current fiscal year.

NXP Semiconductors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Thursday, June 13th were issued a $1.014 dividend. The ex-dividend date was Thursday, June 13th. This represents a $4.06 annualized dividend and a yield of 1.60%. NXP Semiconductors’s dividend payout ratio is currently 37.40%.

Insider Activity at NXP Semiconductors

In related news, CEO Kurt Sievers sold 8,548 shares of the 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 sale, 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 legal filing with the SEC, which can be accessed through the SEC website. 0.11% of the stock is owned by insiders.

Hedge Funds Weigh In On NXP Semiconductors

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Beacon Capital Management LLC boosted its position in NXP Semiconductors by 36.4% in the 1st quarter. Beacon Capital Management LLC now owns 150 shares of the semiconductor provider’s stock valued at $37,000 after buying an additional 40 shares during the last quarter. Patten Group Inc. boosted its position in NXP Semiconductors by 1.2% in the 2nd quarter. Patten Group Inc. now owns 3,454 shares of the semiconductor provider’s stock valued at $929,000 after buying an additional 42 shares during the last quarter. West Paces Advisors Inc. boosted its position in NXP Semiconductors by 3.1% in the 2nd quarter. West Paces Advisors Inc. now owns 1,500 shares of the semiconductor provider’s stock valued at $404,000 after buying an additional 45 shares during the last quarter. Lincoln National Corp boosted its position in NXP Semiconductors by 1.9% in the 4th quarter. Lincoln National Corp now owns 2,473 shares of the semiconductor provider’s stock valued at $568,000 after buying an additional 46 shares during the last quarter. Finally, Peterson Wealth Services boosted its position in NXP Semiconductors by 3.1% in the 1st quarter. Peterson Wealth Services now owns 1,520 shares of the semiconductor provider’s stock valued at $377,000 after buying an additional 46 shares during the last quarter. 90.54% of the stock is owned by hedge funds and other institutional investors.

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.