NXP Semiconductors (NASDAQ:NXPI) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of NXP Semiconductors (NASDAQ:NXPI) from a buy rating to a hold rating in a report issued on Saturday morning,Wall Street Zen reports.

A number of other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of NXP Semiconductors from $295.00 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Morgan Stanley boosted their target price on shares of NXP Semiconductors from $335.00 to $338.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. TD Cowen decreased their target price on shares of NXP Semiconductors from $340.00 to $290.00 and set a “buy” rating for the company in a research report on Wednesday, July 29th. Needham & Company LLC restated a “buy” rating and issued a $300.00 price target on shares of NXP Semiconductors in a research note on Wednesday, July 29th. Finally, Wells Fargo & Company cut their price target on NXP Semiconductors from $290.00 to $280.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Sixteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $304.91.

NXP Semiconductors Trading Up 0.4%

NASDAQ:NXPI opened at $230.19 on Friday. NXP Semiconductors has a 12-month low of $183.00 and a 12-month high of $339.95. The firm has a market capitalization of $58.04 billion, a P/E ratio of 19.74, a P/E/G ratio of 0.78 and a beta of 1.80. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.04 and a quick ratio of 1.36. The business has a 50 day simple moving average of $229.88 and a 200 day simple moving average of $256.68.

NXP Semiconductors (NASDAQ:NXPI) last issued its quarterly earnings data on Wednesday, July 29th. The semiconductor provider reported $3.61 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.09. The firm had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.47 billion. NXP Semiconductors had a return on equity of 27.83% and a net margin of 22.56%. The firm’s revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.72 EPS. Equities research analysts predict that NXP Semiconductors will post 13.75 EPS for the current year.

NXP Semiconductors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Wednesday, September 16th were issued a $1.0140 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $4.06 annualized dividend and a yield of 1.8%. NXP Semiconductors’s dividend payout ratio is presently 34.64%.

Insider Transactions at NXP Semiconductors

In other news, EVP Christopher L. Jensen sold 3,355 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $240.00, for a total value of $805,200.00. Following the completion of the sale, the executive vice president directly owned 288 shares of the company’s stock, valued at approximately $69,120. This represents a 92.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Micallef sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $226.04, for a total transaction of $226,040.00. Following the completion of the transaction, the executive vice president owned 7,942 shares of the company’s stock, valued at $1,795,209.68. This trade represents a 11.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.05% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC bought a new stake in shares of NXP Semiconductors in the 3rd quarter worth approximately $1,126,000. Ieq Capital LLC bought a new stake in shares of NXP Semiconductors during the second quarter valued at approximately $1,208,000. BlackRock Inc. bought a new stake in shares of NXP Semiconductors during the second quarter valued at approximately $6,716,412,000. Private Wealth Partners LLC raised its stake in shares of NXP Semiconductors by 203.6% in the first quarter. Private Wealth Partners LLC now owns 10,652 shares of the semiconductor provider’s stock valued at $2,097,000 after purchasing an additional 7,144 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of NXP Semiconductors in the second quarter valued at $36,657,000. Institutional investors and hedge funds own 90.54% of the company’s stock.

NXP Semiconductors Company Profile

NXP Semiconductors N.V. is a global semiconductor company that develops technologies for automotive, industrial, communications infrastructure, mobile, and Internet of Things applications. The company provides processing, connectivity, security, sensing, and power-management solutions that help enable connected and automated systems.

Its product portfolio includes microcontrollers and application processors, automotive networking and radar solutions, secure identification and authentication technologies, near-field communication products, radio-frequency power amplifiers, analog and mixed-signal devices, and wireless connectivity solutions.