NXP Semiconductors (NASDAQ:NXPI) Shares Gap Down Following Analyst Downgrade

NXP Semiconductors (NASDAQ:NXPI) shares gapped down prior to trading on Tuesday after UBS Group lowered their price target on the stock from $285.00 to $275.00. The stock had previously closed at $236.90, but opened at $220.50. UBS Group currently has a buy rating on the stock. NXP Semiconductors shares last traded at $222.85, with a volume of 1,427,260 shares traded.

Several other brokerages have also recently weighed in on NXPI. Truist Financial decreased their price target on NXP Semiconductors from $287.00 to $252.00 and set a “buy” rating for the company in a research note on Wednesday. Needham & Company LLC decreased their target price on NXP Semiconductors from $300.00 to $250.00 and set a “buy” rating for the company in a research note on Wednesday. Oppenheimer cut their price target on NXP Semiconductors from $330.00 to $300.00 and set an “outperform” rating on the stock in a report on Wednesday. The Goldman Sachs Group cut their price target on NXP Semiconductors from $285.00 to $277.00 in a report on Friday, October 11th. Finally, Citic Securities assumed coverage on NXP Semiconductors in a report on Friday, October 11th. They issued a $288.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $276.85.

Insider Activity at NXP Semiconductors

In other NXP Semiconductors 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 transaction of $813,225.00. Following the completion of the sale, the executive vice president now owns 30,269 shares of the company’s stock, valued at $7,033,002.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NXP Semiconductors

A number of hedge funds and other institutional investors have recently modified their holdings of NXPI. Family Firm Inc. purchased a new position in NXP Semiconductors during the 2nd quarter valued at about $27,000. Addison Advisors LLC increased its holdings in NXP Semiconductors by 224.2% during the 2nd quarter. Addison Advisors LLC now owns 107 shares of the semiconductor provider’s stock valued at $29,000 after purchasing an additional 74 shares during the period. Valley National Advisers Inc. increased its holdings in NXP Semiconductors by 71.2% during the 2nd quarter. Valley National Advisers Inc. now owns 125 shares of the semiconductor provider’s stock valued at $33,000 after purchasing an additional 52 shares during the period. Beacon Capital Management LLC increased its holdings in NXP Semiconductors by 36.4% during the 1st quarter. Beacon Capital Management LLC now owns 150 shares of the semiconductor provider’s stock valued at $37,000 after purchasing an additional 40 shares during the period. Finally, Fortitude Family Office LLC increased its holdings in NXP Semiconductors by 615.0% during the 2nd quarter. Fortitude Family Office LLC now owns 143 shares of the semiconductor provider’s stock valued at $38,000 after purchasing an additional 123 shares during the period. Institutional investors own 90.54% of the company’s stock.

NXP Semiconductors Stock Performance

The company has a market cap of $58.94 billion, a PE ratio of 22.08, a P/E/G ratio of 2.57 and a beta of 1.49. The company has a current ratio of 2.21, a quick ratio of 1.52 and a debt-to-equity ratio of 1.04. The business has a fifty day moving average of $236.43 and a 200-day moving average of $253.19.

NXP Semiconductors (NASDAQ:NXPI) last posted its earnings results on Monday, November 4th. The semiconductor provider reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.02. NXP Semiconductors had a return on equity of 34.11% and a net margin of 20.98%. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the prior year, the business earned $3.31 EPS. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts anticipate that NXP Semiconductors will post 11.94 earnings per share for the current fiscal year.

NXP Semiconductors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Thursday, September 12th were issued a dividend of $1.014 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.75%. NXP Semiconductors’s dividend payout ratio (DPR) is 38.74%.

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.