NXP Semiconductors (NASDAQ:NXPI) Price Target Cut to $270.00 by Analysts at Cantor Fitzgerald

NXP Semiconductors (NASDAQ:NXPI) had its target price cut by Cantor Fitzgerald from $350.00 to $270.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have an overweight rating on the semiconductor provider’s stock.

Several other research firms also recently issued reports on NXPI. Truist Financial decreased their price objective on shares of NXP Semiconductors from $291.00 to $287.00 and set a buy rating for the company in a research note on Wednesday, July 24th. Morgan Stanley reduced their target price on shares of NXP Semiconductors from $275.00 to $271.00 and set an equal weight rating for the company in a report on Wednesday, July 24th. StockNews.com cut shares of NXP Semiconductors from a buy rating to a hold rating in a report on Friday, August 2nd. Barclays upped their target price on shares of NXP Semiconductors from $280.00 to $330.00 and gave the company an overweight rating in a report on Thursday, July 18th. Finally, UBS Group raised shares of NXP Semiconductors from a neutral rating to a buy rating and upped their target price for the company from $275.00 to $285.00 in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $291.40.

NXP Semiconductors Stock Performance

Shares of NXPI stock opened at $238.10 on Tuesday. The company has a current ratio of 2.21, a quick ratio of 1.52 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 cap of $60.65 billion, a P/E ratio of 22.25, a PEG ratio of 2.58 and a beta of 1.49. The firm has a fifty day moving average price of $239.83 and a 200 day moving average price of $253.23.

NXP Semiconductors (NASDAQ:NXPI) last released its quarterly earnings data on Monday, July 22nd. The semiconductor provider reported $3.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the firm posted $3.04 earnings per share. NXP Semiconductors’s revenue for the quarter was down 5.2% on a year-over-year basis. Sell-side analysts predict that NXP Semiconductors will post 11.97 earnings per share for the current fiscal year.

NXP Semiconductors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Thursday, September 12th were issued a $1.014 dividend. The ex-dividend date was Thursday, September 12th. This represents a $4.06 dividend on an annualized basis and a yield of 1.70%. NXP Semiconductors’s dividend payout ratio (DPR) is presently 37.94%.

Insider Buying and Selling at NXP Semiconductors

In other NXP Semiconductors news, EVP Jennifer Wuamett sold 3,500 shares of the stock in a transaction dated Tuesday, September 17th. The shares were 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other NXP Semiconductors news, insider Julie Southern purchased 146 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 11,297 shares of the company’s stock, valued at $2,909,429.38. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Jennifer Wuamett sold 3,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $232.35, for a total transaction of $813,225.00. Following the completion of the sale, the executive vice president now owns 30,269 shares in the company, valued at $7,033,002.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by corporate insiders.

Institutional Trading of NXP Semiconductors

Several large investors have recently modified their holdings of the business. Drive Wealth Management LLC grew its position in shares of NXP Semiconductors by 4.3% in the second quarter. Drive Wealth Management LLC now owns 953 shares of the semiconductor provider’s stock valued at $257,000 after purchasing an additional 39 shares during the last quarter. Beacon Capital Management LLC boosted its position in NXP Semiconductors by 36.4% during the first quarter. Beacon Capital Management LLC now owns 150 shares of the semiconductor provider’s stock worth $37,000 after acquiring an additional 40 shares during the last quarter. Patten Group Inc. boosted its position in NXP Semiconductors by 1.2% during 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. West Paces Advisors Inc. boosted its position in NXP Semiconductors by 3.1% during the second quarter. West Paces Advisors Inc. now owns 1,500 shares of the semiconductor provider’s stock worth $404,000 after acquiring an additional 45 shares during the last quarter. Finally, Octavia Wealth Advisors LLC boosted its position in NXP Semiconductors by 5.4% during the second quarter. Octavia Wealth Advisors LLC now owns 880 shares of the semiconductor provider’s stock worth $238,000 after acquiring an additional 45 shares during the last quarter. 90.54% of the stock is currently owned by institutional investors and hedge funds.

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.