NXP Semiconductors (NASDAQ:NXPI) Stock Rating Upgraded by Zacks Investment Research

NXP Semiconductors (NASDAQ:NXPI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The brokerage currently has a $111.00 target price on the semiconductor provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 13.64% from the stock’s current price.

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. “

Several other equities research analysts have also recently commented on the company. Piper Jaffray Companies set a $55.00 price target on Pacira Biosciences and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Bank of America restated a “buy” rating and set a $105.00 price target (up previously from $100.00) on shares of Zendesk in a research note on Wednesday, May 1st. Stifel Nicolaus cut their price target on MacroGenics from $36.00 to $29.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Morgan Stanley restated a “neutral” rating and set a $230.00 price target on shares of Tesla in a research note on Wednesday, June 12th. Finally, BidaskClub cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. NXP Semiconductors currently has a consensus rating of “Buy” and a consensus target price of $101.42.

NXPI traded up $0.56 on Wednesday, reaching $97.68. The company’s stock had a trading volume of 1,639 shares, compared to its average volume of 3,997,544. The business has a 50 day simple moving average of $95.26. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $32.09 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 1.17 and a beta of 1.27. NXP Semiconductors has a fifty-two week low of $67.62 and a fifty-two week high of $108.51.

NXP Semiconductors (NASDAQ:NXPI) last posted its quarterly earnings data on Monday, April 29th. The semiconductor provider reported $1.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.47. The business 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, research analysts forecast that NXP Semiconductors will post 6.56 EPS for the current year.

Several hedge funds have recently made changes to their positions in NXPI. Norges Bank purchased a new position in shares of NXP Semiconductors in the fourth quarter valued at $234,256,000. Boston Partners acquired a new stake in shares of NXP Semiconductors during the first quarter valued at $149,891,000. Bank of Montreal Can boosted its stake in shares of NXP Semiconductors by 308.2% during the first quarter. Bank of Montreal Can now owns 956,288 shares of the semiconductor provider’s stock valued at $84,526,000 after acquiring an additional 721,996 shares during the last quarter. Pictet Asset Management Ltd. boosted its stake in shares of NXP Semiconductors by 14.8% during the first quarter. Pictet Asset Management Ltd. now owns 3,101,888 shares of the semiconductor provider’s stock valued at $274,176,000 after acquiring an additional 400,506 shares during the last quarter. Finally, Pennsylvania Trust Co boosted its stake in shares of NXP Semiconductors by 1,977.4% during the first quarter. Pennsylvania Trust Co now owns 328,643 shares of the semiconductor provider’s stock valued at $10,158,000 after acquiring an additional 312,823 shares during the last quarter. Institutional investors and hedge funds own 76.00% of the company’s stock.

About NXP Semiconductors

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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