NXP Semiconductors (NASDAQ:NXPI) Given New $324.40 Price Target at Arete

NXP Semiconductors (NASDAQ:NXPI) had its price objective boosted by Arete from $273.90 to $324.40 in a report issued on Monday,MarketScreener reports. Arete currently has a buy rating on the semiconductor provider’s stock.

Other equities analysts have also recently issued reports about the stock. Sanford C. Bernstein set a $220.00 target price on shares of NXP Semiconductors and gave the company a “market perform” rating in a research report on Wednesday, October 29th. Arete Research boosted their price target on NXP Semiconductors from $273.90 to $324.40 and gave the stock a “buy” rating in a report on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $280.00 price objective on shares of NXP Semiconductors in a research note on Tuesday, October 28th. Truist Financial boosted their target price on NXP Semiconductors from $252.00 to $254.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of NXP Semiconductors in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $260.04.

NXP Semiconductors Stock Performance

NASDAQ NXPI opened at $228.94 on Monday. The firm has a 50-day moving average price of $210.60 and a two-hundred day moving average price of $217.04. NXP Semiconductors has a 12-month low of $148.09 and a 12-month high of $255.45. The company has a market capitalization of $57.62 billion, a P/E ratio of 28.26, a P/E/G ratio of 3.40 and a beta of 1.46. The company has a quick ratio of 1.69, a current ratio of 2.37 and a debt-to-equity ratio of 1.09.

NXP Semiconductors (NASDAQ:NXPI) last released its quarterly earnings results on Tuesday, October 28th. The semiconductor provider reported $3.11 earnings per share for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.01). The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.15 billion. NXP Semiconductors had a net margin of 17.11% and a return on equity of 26.92%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.45 earnings per share. Analysts anticipate that NXP Semiconductors will post 10.28 earnings per share for the current year.

NXP Semiconductors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 7th. Shareholders of record on Wednesday, December 10th will be issued a dividend of $1.014 per share. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $4.06 annualized dividend and a yield of 1.8%. NXP Semiconductors’s payout ratio is presently 50.25%.

Insider Activity

In related news, EVP Jennifer Wuamett sold 8,372 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $207.01, for a total value of $1,733,087.72. Following the transaction, the executive vice president owned 19,175 shares in the company, valued at $3,969,416.75. The trade was a 30.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Andrew Micallef sold 1,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $216.21, for a total value of $216,210.00. Following the completion of the transaction, the executive vice president directly owned 6,828 shares in the company, valued at $1,476,281.88. This represents a 12.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 11,672 shares of company stock worth $2,474,089. 0.12% of the stock is owned by company insiders.

Hedge Funds Weigh In On NXP Semiconductors

A number of institutional investors and hedge funds have recently modified their holdings of the business. Shelton Capital Management grew its position in shares of NXP Semiconductors by 16.1% during the 2nd quarter. Shelton Capital Management now owns 83,378 shares of the semiconductor provider’s stock valued at $18,217,000 after acquiring an additional 11,577 shares during the period. Vantage Investment Partners LLC boosted its position in NXP Semiconductors by 5.2% during the second quarter. Vantage Investment Partners LLC now owns 34,193 shares of the semiconductor provider’s stock worth $7,471,000 after purchasing an additional 1,675 shares during the period. Alberta Investment Management Corp purchased a new position in shares of NXP Semiconductors in the second quarter worth about $3,540,000. CCLA Investment Management increased its stake in shares of NXP Semiconductors by 6.5% in the second quarter. CCLA Investment Management now owns 545,580 shares of the semiconductor provider’s stock worth $119,121,000 after purchasing an additional 33,112 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp raised its position in shares of NXP Semiconductors by 13.6% in the second quarter. OMERS ADMINISTRATION Corp now owns 58,645 shares of the semiconductor provider’s stock valued at $12,813,000 after purchasing an additional 7,034 shares during the period. 90.54% of the stock is currently owned by 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.