Wells Fargo & Company Has Lowered Expectations for NXP Semiconductors (NASDAQ:NXPI) Stock Price

NXP Semiconductors (NASDAQ:NXPI) had its target price reduced by investment analysts at Wells Fargo & Company from $280.00 to $235.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor provider’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 0.68% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 price target on shares of NXP Semiconductors in a report on Wednesday, July 29th. TD Cowen decreased their target price on NXP Semiconductors from $290.00 to $275.00 and set a “buy” rating for the company in a research report on Monday. Oppenheimer raised their target price on NXP Semiconductors from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. UBS Group restated a “neutral” rating and issued a $270.00 target price (down from $305.00) on shares of NXP Semiconductors in a research note on Monday, August 3rd. Finally, JPMorgan Chase & Co. increased their price target on NXP Semiconductors from $295.00 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Sixteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $302.30.

NXP Semiconductors Stock Performance

NASDAQ NXPI traded up $6.42 during trading hours on Tuesday, reaching $236.61. 278,311 shares of the company were exchanged, compared to its average volume of 3,520,569. NXP Semiconductors has a 1 year low of $183.00 and a 1 year high of $339.95. The business’s 50 day simple moving average is $229.88 and its 200-day simple moving average is $256.68. 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 stock has a market capitalization of $59.66 billion, a P/E ratio of 20.10, a P/E/G ratio of 0.78 and a beta of 1.80.

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

Insider Activity

In other news, EVP Andrew Micallef sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $226.04, for a total value of $226,040.00. Following the completion of the transaction, the executive vice president directly owned 7,942 shares in the company, valued at approximately $1,795,209.68. This trade represents a 11.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher L. Jensen sold 3,355 shares of the business’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 transaction of $805,200.00. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.05% of the company’s stock.

Institutional Trading of NXP Semiconductors

A number of hedge funds and other institutional investors have recently bought and sold shares of NXPI. BlackRock Inc. purchased a new position in shares of NXP Semiconductors during the 2nd quarter valued at $6,716,412,000. State Street Corp increased its holdings in shares of NXP Semiconductors by 6.4% in the second quarter. State Street Corp now owns 11,699,143 shares of the semiconductor provider’s stock worth $3,298,932,000 after purchasing an additional 702,099 shares during the period. Wellington Management Group LLP bought a new position in shares of NXP Semiconductors in the second quarter worth $21,099,000. Bank of America Corp DE purchased a new stake in shares of NXP Semiconductors in the second quarter worth $1,169,846,000. Finally, Van ECK Associates Corp purchased a new stake in shares of NXP Semiconductors in the second quarter worth $1,167,458,000. Institutional investors 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.