Brokerages Set NXP Semiconductors (NASDAQ:NXPI) Price Target at $246.22

Shares of NXP Semiconductors (NASDAQ:NXPI) have been assigned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $246.22.

A number of brokerages recently issued reports on NXPI. Citigroup decreased their price objective on shares of NXP Semiconductors from $290.00 to $220.00 and set a “buy” rating for the company in a report on Friday, April 11th. Truist Financial boosted their price target on shares of NXP Semiconductors from $245.00 to $258.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Mizuho boosted their price target on shares of NXP Semiconductors from $240.00 to $255.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Morgan Stanley set a $229.00 target price on NXP Semiconductors in a research note on Monday, April 21st. Finally, TD Cowen boosted their target price on NXP Semiconductors from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th.

NXP Semiconductors Stock Performance

NASDAQ:NXPI opened at $218.72 on Friday. NXP Semiconductors has a 12-month low of $148.09 and a 12-month high of $296.08. The company has a quick ratio of 1.60, a current ratio of 2.36 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $55.26 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 3.01 and a beta of 1.39. The firm has a 50-day moving average price of $189.22 and a 200 day moving average price of $205.48.

NXP Semiconductors (NASDAQ:NXPI) last posted its quarterly earnings data on Monday, April 28th. The semiconductor provider reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.05. NXP Semiconductors had a net margin of 19.90% and a return on equity of 31.45%. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same quarter last year, the business posted $3.24 earnings per share. The company’s revenue was down 9.3% on a year-over-year basis. Research analysts anticipate that NXP Semiconductors will post 10.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Andrew Micallef sold 1,000 shares of NXP Semiconductors stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $204.86, for a total value of $204,860.00. Following the transaction, the chief operating officer now owns 8,828 shares of the company’s stock, valued at $1,808,504.08. The trade was a 10.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On NXP Semiconductors

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in NXP Semiconductors during the fourth quarter worth about $672,224,000. Wellington Management Group LLP raised its position in shares of NXP Semiconductors by 11.7% during the 1st quarter. Wellington Management Group LLP now owns 12,731,044 shares of the semiconductor provider’s stock valued at $2,419,662,000 after buying an additional 1,330,474 shares during the period. Nuveen LLC purchased a new stake in shares of NXP Semiconductors during the 1st quarter valued at approximately $219,878,000. Price T Rowe Associates Inc. MD raised its position in NXP Semiconductors by 33.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,342,675 shares of the semiconductor provider’s stock valued at $635,310,000 after purchasing an additional 839,113 shares during the period. Finally, Van ECK Associates Corp raised its holdings in NXP Semiconductors by 27.1% in the 4th quarter. Van ECK Associates Corp now owns 3,865,446 shares of the semiconductor provider’s stock valued at $803,432,000 after buying an additional 824,317 shares during the period. Hedge funds and other 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.