NXP Semiconductors (NASDAQ:NXPI) Price Target Increased to $291.00 by Analysts at Truist Financial

NXP Semiconductors (NASDAQ:NXPI) had its price target boosted by Truist Financial from $265.00 to $291.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the semiconductor provider’s stock.

A number of other equities analysts have also recently commented on the company. TD Cowen raised their target price on NXP Semiconductors from $270.00 to $300.00 and gave the company an outperform rating in a report on Tuesday, March 12th. Susquehanna lifted their price objective on shares of NXP Semiconductors from $200.00 to $225.00 and gave the company a neutral rating in a report on Wednesday, February 7th. Wolfe Research raised shares of NXP Semiconductors from a peer perform rating to an outperform rating and set a $255.00 target price on the stock in a research note on Thursday, January 18th. Morgan Stanley raised their price target on shares of NXP Semiconductors from $221.00 to $224.00 and gave the company an equal weight rating in a research report on Wednesday, February 7th. Finally, Barclays raised NXP Semiconductors from an equal weight rating to an overweight rating and upped their price objective for the stock from $200.00 to $260.00 in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $257.72.

NXP Semiconductors Stock Performance

NASDAQ NXPI opened at $249.43 on Wednesday. The stock has a market cap of $63.88 billion, a PE ratio of 23.03, a P/E/G ratio of 0.97 and a beta of 1.54. NXP Semiconductors has a twelve month low of $161.23 and a twelve month high of $264.26. The stock has a fifty day simple moving average of $242.28 and a 200-day simple moving average of $220.92. The company has a current ratio of 2.35, a quick ratio of 1.39 and a debt-to-equity ratio of 1.11.

NXP Semiconductors (NASDAQ:NXPI) last posted its quarterly earnings data on Monday, February 5th. The semiconductor provider reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.04. The firm had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.40 billion. NXP Semiconductors had a net margin of 21.24% and a return on equity of 37.65%. Equities analysts anticipate that NXP Semiconductors will post 12.21 earnings per share for the current year.

NXP Semiconductors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Thursday, March 21st were given a dividend of $1.014 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $4.06 annualized dividend and a dividend yield of 1.63%. NXP Semiconductors’s dividend payout ratio is presently 37.49%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NXPI. Commonwealth Equity Services LLC grew its holdings in shares of NXP Semiconductors by 11.2% during the third quarter. Commonwealth Equity Services LLC now owns 54,261 shares of the semiconductor provider’s stock worth $10,848,000 after purchasing an additional 5,471 shares during the last quarter. Xponance Inc. grew its stake in NXP Semiconductors by 0.9% during the 3rd quarter. Xponance Inc. now owns 21,921 shares of the semiconductor provider’s stock worth $4,382,000 after buying an additional 192 shares during the last quarter. Mission Wealth Management LP increased its position in NXP Semiconductors by 190.4% during the third quarter. Mission Wealth Management LP now owns 3,313 shares of the semiconductor provider’s stock worth $662,000 after buying an additional 2,172 shares during the period. Dakota Wealth Management acquired a new position in NXP Semiconductors during the third quarter worth approximately $591,000. Finally, Raymond James & Associates lifted its stake in NXP Semiconductors by 1.1% in the third quarter. Raymond James & Associates now owns 915,890 shares of the semiconductor provider’s stock valued at $183,105,000 after buying an additional 10,286 shares during the last quarter. 90.54% of the stock is owned by hedge funds and other institutional investors.

About NXP Semiconductors

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.