NXP Semiconductors (NASDAQ:NXPI) Given New $250.00 Price Target at Wells Fargo & Company

NXP Semiconductors (NASDAQ:NXPI) had its price target upped by Wells Fargo & Company from $240.00 to $250.00 in a research note issued to investors on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the semiconductor provider’s stock.

NXPI has been the subject of several other research reports. Morgan Stanley set a $229.00 price objective on shares of NXP Semiconductors in a research note on Monday, April 21st. Stifel Nicolaus cut their target price on shares of NXP Semiconductors from $210.00 to $170.00 and set a “hold” rating for the company in a research report on Thursday, April 17th. Barclays cut their target price on shares of NXP Semiconductors from $230.00 to $190.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Truist Financial lifted their target price on shares of NXP Semiconductors from $245.00 to $258.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Finally, Needham & Company LLC cut their target price on shares of NXP Semiconductors from $230.00 to $225.00 and set a “buy” rating for the company in a research report on Tuesday, April 29th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, NXP Semiconductors currently has an average rating of “Moderate Buy” and a consensus target price of $244.78.

NXP Semiconductors Stock Down 0.6%

Shares of NASDAQ NXPI opened at $211.45 on Monday. The company has a quick ratio of 1.47, a current ratio of 2.09 and a debt-to-equity ratio of 1.10. NXP Semiconductors has a 52 week low of $148.09 and a 52 week high of $296.08. The firm has a 50-day moving average price of $194.91 and a 200 day moving average price of $205.05. The stock has a market capitalization of $53.42 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 2.65 and a beta of 1.39.

NXP Semiconductors (NASDAQ:NXPI) last announced its quarterly earnings data on Monday, April 28th. The semiconductor provider reported $2.64 EPS for the quarter, beating the consensus estimate of $2.59 by $0.05. NXP Semiconductors had a net margin of 19.16% and a return on equity of 29.62%. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter last year, the business earned $3.24 earnings per share. The business’s revenue for the quarter was down 9.3% compared to the same quarter last year. Equities research analysts anticipate that NXP Semiconductors will post 10.28 EPS for the current fiscal year.

NXP Semiconductors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 25th will be issued a $1.014 dividend. The ex-dividend date of this dividend is Wednesday, June 25th. This represents a $4.06 dividend on an annualized basis and a yield of 1.92%. NXP Semiconductors’s payout ratio is 44.23%.

Institutional Investors Weigh In On NXP Semiconductors

Several institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of NXP Semiconductors during the fourth quarter worth $672,224,000. Wellington Management Group LLP increased its stake in NXP Semiconductors by 11.7% during the first quarter. Wellington Management Group LLP now owns 12,731,044 shares of the semiconductor provider’s stock valued at $2,419,662,000 after purchasing an additional 1,330,474 shares during the last quarter. Nuveen LLC bought a new stake in NXP Semiconductors during the first quarter valued at $219,878,000. Price T Rowe Associates Inc. MD grew its position in shares of NXP Semiconductors by 33.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,342,675 shares of the semiconductor provider’s stock worth $635,310,000 after acquiring an additional 839,113 shares during the last quarter. Finally, Voloridge Investment Management LLC grew its position in shares of NXP Semiconductors by 131.4% during the fourth quarter. Voloridge Investment Management LLC now owns 1,025,517 shares of the semiconductor provider’s stock worth $213,154,000 after acquiring an additional 582,317 shares during the last quarter. 90.54% of the stock is currently 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.