NXP Semiconductors (NASDAQ:NXPI) Stock Price Target Lowered at TD Cowen

NXP Semiconductors (NASDAQ:NXPI) had its target price reduced by TD Cowen from $290.00 to $275.00 in a report released on Monday,Benzinga reports. TD Cowen currently has a buy rating on the semiconductor provider’s stock.

NXPI has been the subject of a number of other research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of NXP Semiconductors in a report on Friday, July 31st. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $290.00 target price (up from $270.00) on shares of NXP Semiconductors in a research note on Wednesday, July 29th. Mizuho decreased their target price on shares of NXP Semiconductors from $200.00 to $190.00 and set an “underperform” rating on the stock in a report on Wednesday, July 29th. Wells Fargo & Company decreased their target price on shares of NXP Semiconductors from $290.00 to $280.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Finally, Morgan Stanley increased their price target 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. Sixteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, NXP Semiconductors has an average rating of “Moderate Buy” and a consensus target price of $304.26.

NXP Semiconductors Stock Up 0.4%

Shares of NASDAQ:NXPI opened at $230.19 on Monday. The company has a quick ratio of 1.36, a current ratio of 2.04 and a debt-to-equity ratio of 0.88. The business has a fifty day moving average of $229.88 and a two-hundred day moving average of $256.68. The stock has a market cap of $58.04 billion, a P/E ratio of 19.64, a PEG ratio of 0.78 and a beta of 1.80. NXP Semiconductors has a 52-week low of $183.00 and a 52-week high of $339.95.

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

NXP Semiconductors Announces Dividend

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

Insider Activity

In other NXP Semiconductors news, EVP Andrew Micallef sold 1,000 shares of the stock in a transaction dated 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Jensen sold 3,355 shares of NXP Semiconductors stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $240.00, for a total transaction of $805,200.00. Following the sale, the executive vice president owned 288 shares of the company’s stock, valued at approximately $69,120. This represents a 92.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.05% of the company’s stock.

Hedge Funds Weigh In On NXP Semiconductors

A number of hedge funds have recently made changes to their positions in NXPI. Gamco Investors INC. ET AL boosted its position in NXP Semiconductors by 2.0% during the first quarter. Gamco Investors INC. ET AL now owns 2,305 shares of the semiconductor provider’s stock valued at $454,000 after purchasing an additional 45 shares during the last quarter. Howard Financial Services LTD. increased its position in NXP Semiconductors by 2.9% in the 3rd quarter. Howard Financial Services LTD. now owns 1,736 shares of the semiconductor provider’s stock worth $412,000 after purchasing an additional 49 shares during the last quarter. Ballast Advisors LLC increased its position in NXP Semiconductors by 0.7% in the 1st quarter. Ballast Advisors LLC now owns 9,078 shares of the semiconductor provider’s stock worth $1,787,000 after purchasing an additional 61 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of NXP Semiconductors by 6.1% during the 1st quarter. Chicago Partners Investment Group LLC now owns 1,200 shares of the semiconductor provider’s stock worth $236,000 after purchasing an additional 69 shares in the last quarter. Finally, Fulton Bank N.A. raised its stake in shares of NXP Semiconductors by 2.0% during the 1st quarter. Fulton Bank N.A. now owns 4,317 shares of the semiconductor provider’s stock worth $850,000 after purchasing an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 90.54% of the company’s stock.

About NXP Semiconductors

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.