NXP Semiconductors (NASDAQ:NXPI) Raised to “Buy” at Wall Street Zen

NXP Semiconductors (NASDAQ:NXPI) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Sunday, Wall Street Zen reports.

Other research analysts have also recently issued reports about the company. Sanford C. Bernstein reissued a “market perform” rating and set a $290.00 price objective on shares of NXP Semiconductors in a report on Wednesday, July 29th. Wells Fargo & Company cut their target price on shares of NXP Semiconductors from $290.00 to $280.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Needham & Company LLC reissued a “buy” rating and issued a $300.00 target price on shares of NXP Semiconductors in a report on Wednesday, July 29th. Bank of America restated a “neutral” rating on shares of NXP Semiconductors in a research report on Wednesday, July 29th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NXP Semiconductors in a report on Friday, July 31st. Sixteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $305.43.

NXP Semiconductors Stock Performance

NASDAQ NXPI opened at $227.84 on Friday. NXP Semiconductors has a twelve month low of $183.00 and a twelve month high of $339.95. The company has a quick ratio of 1.36, a current ratio of 2.04 and a debt-to-equity ratio of 0.88. The stock has a market cap of $57.45 billion, a P/E ratio of 19.44, a PEG ratio of 0.77 and a beta of 1.81. The company’s 50-day simple moving average is $249.19 and its 200 day simple moving average is $251.73.

NXP Semiconductors (NASDAQ:NXPI) last announced its quarterly earnings results on Wednesday, July 29th. The semiconductor provider reported $3.61 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.09. The firm had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.47 billion. NXP Semiconductors had a net margin of 22.56% and a return on equity of 27.83%. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.72 earnings per share. As a group, research analysts forecast that NXP Semiconductors will post 13.73 earnings per share for the current fiscal year.

Insider Activity

In other NXP Semiconductors news, EVP Andrew Micallef sold 1,000 shares of NXP Semiconductors stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $315.57, for a total value of $315,570.00. Following the sale, the executive vice president owned 8,942 shares of the company’s stock, valued at $2,821,826.94. This trade represents a 10.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.05% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Allied Private Wealth LLC acquired a new position in NXP Semiconductors during the 2nd quarter worth approximately $28,000. Bell Investment Advisors Inc acquired a new stake in shares of NXP Semiconductors in the second quarter valued at approximately $29,000. Fiduciary Financial Advisors acquired a new stake in shares of NXP Semiconductors in the second quarter valued at approximately $28,000. JPL Wealth Management LLC bought a new stake in shares of NXP Semiconductors in the third quarter worth $26,000. Finally, Pingora Partners LLC bought a new stake in shares of NXP Semiconductors in the second quarter worth $35,000. 90.54% of the stock is currently owned by institutional investors.

NXP Semiconductors Company Profile

NXP Semiconductors N.V. is a global semiconductor company headquartered in Eindhoven, the Netherlands, that designs and supplies mixed-signal and standard product solutions for a broad range of end markets. The company focuses on enabling secure connections and infrastructure for embedded applications, developing technologies used across automotive, industrial and Internet of Things (IoT), mobile, and communication infrastructure segments. NXP’s offerings target customers that require reliable, secure, and high-performance semiconductor components for connected devices and systems.

Product lines include microcontrollers and application processors, secure elements and authentication technologies, RF and high-power analog components, connectivity solutions, and vehicle networking and infotainment systems.