Oppenheimer Cuts NXP Semiconductors (NASDAQ:NXPI) Price Target to $300.00

NXP Semiconductors (NASDAQ:NXPI) had its target price reduced by Oppenheimer from $330.00 to $300.00 in a research note published on Wednesday,Benzinga reports. Oppenheimer currently has an outperform rating on the semiconductor provider’s stock.

A number of other research firms have also recently issued reports on NXPI. Truist Financial cut their target price on NXP Semiconductors from $291.00 to $287.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. TD Cowen decreased their price target on NXP Semiconductors from $330.00 to $310.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. UBS Group upgraded shares of NXP Semiconductors from a “neutral” rating to a “buy” rating and raised their target price for the stock from $275.00 to $285.00 in a report on Monday, October 7th. The Goldman Sachs Group cut their price target on shares of NXP Semiconductors from $285.00 to $277.00 in a report on Friday, October 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $270.00 target price on shares of NXP Semiconductors in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $275.60.

NXP Semiconductors Trading Down 0.9 %

Shares of NXP Semiconductors stock traded down $2.23 during mid-day trading on Wednesday, hitting $233.89. 2,743,168 shares of the stock were exchanged, compared to its average volume of 2,429,677. The stock has a market capitalization of $59.45 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 3.08 and a beta of 1.49. NXP Semiconductors has a twelve month low of $179.64 and a twelve month high of $296.08. The company has a current ratio of 2.35, a quick ratio of 1.52 and a debt-to-equity ratio of 0.99. The company has a 50-day simple moving average of $235.72 and a 200 day simple moving average of $253.17.

NXP Semiconductors (NASDAQ:NXPI) last released its quarterly earnings data on Monday, November 4th. The semiconductor provider reported $3.45 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.02. NXP Semiconductors had a return on equity of 33.57% and a net margin of 20.98%. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same period last year, the business posted $3.31 EPS. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. Research analysts forecast that NXP Semiconductors will post 11.94 EPS for the current year.

NXP Semiconductors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Thursday, September 12th were given a $1.014 dividend. This represents a $4.06 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Thursday, September 12th. NXP Semiconductors’s dividend payout ratio is currently 38.74%.

Insiders Place Their Bets

In related news, EVP Jennifer Wuamett sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $232.35, for a total value of $813,225.00. Following 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Family Firm Inc. purchased a new stake in NXP Semiconductors during the second quarter valued at approximately $27,000. Addison Advisors LLC grew its holdings in NXP Semiconductors by 224.2% during the second 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. raised its stake in shares of NXP Semiconductors by 71.2% in the second quarter. Valley National Advisers Inc. now owns 125 shares of the semiconductor provider’s stock worth $33,000 after buying an additional 52 shares during the period. Beacon Capital Management LLC increased its holdings in NXP Semiconductors by 36.4% in the 1st quarter. Beacon Capital Management LLC now owns 150 shares of the semiconductor provider’s stock worth $37,000 after acquiring an additional 40 shares in the last quarter. Finally, Fortitude Family Office LLC raised its stake in NXP Semiconductors by 615.0% during the 2nd quarter. Fortitude Family Office LLC now owns 143 shares of the semiconductor provider’s stock worth $38,000 after acquiring an additional 123 shares during the period. 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.