NXP Semiconductors (NASDAQ:NXPI) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of NXP Semiconductors (NASDAQ:NXPI) from a hold rating to a buy rating in a research note issued to investors on Wednesday, Zacks.com reports. The firm currently has $111.00 price target on the semiconductor provider’s stock.

According to Zacks, “NXP Semiconductors N.V. is a global semiconductor company. The Company designs and manufactures High Performance Mixed Signal semiconductor solutions to meet the requirements of systems and sub-systems in its target markets. High Performance Mixed Signal solutions are an optimized mix of analog and digital functionality integrated into a system or sub-system. The Company’s expertise is in RF, analog, power management, interface, security and digital processing products. NXP’s solutions are used in a wide range of automotive, identification, wireless infrastructure, lighting, industrial, mobile, consumer and computing applications. The Company claims to provide its customers improved power efficiency, functional performance, miniaturization, quality, durability and adaptability in their electronic systems and application solutions. NXP is based in Eindhoven, the Netherlands, with research and development activities in Asia, Europe and the United States, and manufacturing facilities in Asia and Europe. “

A number of other equities analysts also recently commented on NXPI. Morgan Stanley restated a neutral rating and set a $230.00 target price on shares of Tesla in a report on Wednesday, June 12th. Mizuho upped their target price on NXP Semiconductors from $95.00 to $100.00 and gave the company a neutral rating in a report on Wednesday, May 1st. Stifel Nicolaus decreased their target price on MacroGenics from $36.00 to $29.00 and set a buy rating for the company in a report on Wednesday, June 5th. Barclays restated a buy rating on shares of NXP Semiconductors in a report on Sunday, May 5th. Finally, ValuEngine upgraded Valmont Industries from a sell rating to a hold rating in a report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $101.42.

Shares of NXP Semiconductors stock opened at $97.96 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.04 and a current ratio of 1.42. The company has a market capitalization of $32.20 billion, a P/E ratio of 16.49, a PEG ratio of 1.18 and a beta of 1.27. The company’s 50 day simple moving average is $95.41. NXP Semiconductors has a 52 week low of $67.62 and a 52 week high of $108.51.

NXP Semiconductors (NASDAQ:NXPI) last announced its earnings results on Monday, April 29th. The semiconductor provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.47. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.09 billion. NXP Semiconductors had a return on equity of 18.33% and a net margin of 23.06%. On average, equities analysts predict that NXP Semiconductors will post 6.56 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 14th were paid a $0.25 dividend. The ex-dividend date was Thursday, June 13th. This represents a $1.00 annualized dividend and a yield of 1.02%. NXP Semiconductors’s payout ratio is 16.84%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of NXP Semiconductors in the fourth quarter worth $234,256,000. Pictet Asset Management Ltd. grew its stake in shares of NXP Semiconductors by 14.8% in the first quarter. Pictet Asset Management Ltd. now owns 3,101,888 shares of the semiconductor provider’s stock worth $274,176,000 after acquiring an additional 400,506 shares during the last quarter. Legal & General Group Plc grew its stake in shares of NXP Semiconductors by 3.3% in the fourth quarter. Legal & General Group Plc now owns 2,078,146 shares of the semiconductor provider’s stock worth $152,286,000 after acquiring an additional 67,267 shares during the last quarter. FIL Ltd grew its stake in shares of NXP Semiconductors by 0.8% in the first quarter. FIL Ltd now owns 2,052,978 shares of the semiconductor provider’s stock worth $181,462,000 after acquiring an additional 15,872 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of NXP Semiconductors by 14.8% in the fourth quarter. Geode Capital Management LLC now owns 1,845,502 shares of the semiconductor provider’s stock worth $134,797,000 after acquiring an additional 238,164 shares during the last quarter. 76.00% of the stock is currently owned by hedge funds and other institutional investors.

NXP Semiconductors Company Profile

NXP Semiconductors N.V., a semiconductor company, provides high performance mixed signal solutions for radio frequency (RF), analog, power management, interface, security, and digital processing products worldwide. The company offers products for audio and visual head-end unit applications, such as single-chip radio solutions, multi-standard radios, audio amplifiers and power analog products, and i.MX applications processors; in-vehicle networking products; two-way secure entry products; various sensors and microcontrollers; power management solutions; battery cell controllers; and solutions for radar, vision, vehicle-to-vehicle, and vehicle-to-infrastructure systems.

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