Wells Fargo & Company Initiates Coverage on NXP Semiconductors (NASDAQ:NXPI)

Analysts at Wells Fargo & Company assumed coverage on shares of NXP Semiconductors (NASDAQ:NXPI) in a report issued on Friday, Marketbeat.com reports. The firm set an “overweight” rating and a $250.00 price target on the semiconductor provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 10.43% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. StockNews.com downgraded shares of NXP Semiconductors from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $270.00 target price on shares of NXP Semiconductors in a research report on Monday, November 4th. Mizuho set a $290.00 target price on NXP Semiconductors in a report on Friday, October 18th. Citic Securities began coverage on NXP Semiconductors in a research note on Friday, October 11th. They issued a $288.00 price target for the company. Finally, Truist Financial cut their target price on NXP Semiconductors from $287.00 to $252.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $274.14.

NXP Semiconductors Stock Performance

Shares of NASDAQ NXPI opened at $226.38 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.35 and a quick ratio of 1.60. The firm has a market cap of $57.54 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 4.51 and a beta of 1.49. The stock’s fifty day moving average price is $233.53 and its two-hundred day moving average price is $251.46. NXP Semiconductors has a one year low of $198.00 and a one year high of $296.08.

NXP Semiconductors (NASDAQ:NXPI) last released its quarterly earnings results on Monday, November 4th. The semiconductor provider reported $3.45 EPS for the quarter, beating the consensus estimate of $3.43 by $0.02. NXP Semiconductors had a net margin of 20.98% and a return on equity of 33.57%. The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the prior year, the company posted $3.31 earnings per share. NXP Semiconductors’s revenue was down 5.4% compared to the same quarter last year. On average, equities analysts forecast that NXP Semiconductors will post 11.37 EPS for the current year.

Insider Buying and Selling at NXP Semiconductors

In other news, EVP Jennifer Wuamett sold 3,500 shares of NXP Semiconductors stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $232.35, for a total value of $813,225.00. Following the completion of the transaction, the executive vice president now directly owns 30,269 shares of the company’s stock, valued at approximately $7,033,002.15. This trade represents a 10.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On NXP Semiconductors

Large investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in NXP Semiconductors by 387.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,294,340 shares of the semiconductor provider’s stock valued at $550,665,000 after buying an additional 1,823,650 shares during the period. Van ECK Associates Corp lifted its position in shares of NXP Semiconductors by 67.2% during the 3rd quarter. Van ECK Associates Corp now owns 3,041,129 shares of the semiconductor provider’s stock valued at $718,680,000 after acquiring an additional 1,222,736 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in NXP Semiconductors by 337.2% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 939,924 shares of the semiconductor provider’s stock worth $225,591,000 after acquiring an additional 724,951 shares in the last quarter. International Assets Investment Management LLC grew its holdings in NXP Semiconductors by 24,533.2% in the third quarter. International Assets Investment Management LLC now owns 514,341 shares of the semiconductor provider’s stock worth $123,447,000 after purchasing an additional 512,253 shares during the period. Finally, Ceredex Value Advisors LLC bought a new stake in NXP Semiconductors in the third quarter valued at $84,901,000. Institutional investors and hedge funds own 90.54% of the company’s stock.

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.