NXP Semiconductors (NASDAQ:NXPI – Get Free Report) had its price target upped by analysts at Bank of America from $275.00 to $310.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor provider’s stock. Bank of America‘s price target indicates a potential upside of 8.93% from the company’s current price.
A number of other research analysts have also recently commented on the stock. Weiss Ratings raised shares of NXP Semiconductors from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Mizuho upped their price objective on shares of NXP Semiconductors from $188.00 to $200.00 and gave the company an “underperform” rating in a research report on Wednesday, April 29th. Sanford C. Bernstein raised their target price on NXP Semiconductors from $240.00 to $270.00 and gave the company a “market perform” rating in a research note on Wednesday, April 29th. Morgan Stanley boosted their price target on NXP Semiconductors from $299.00 to $335.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Finally, BNP Paribas Exane raised their price objective on NXP Semiconductors from $270.00 to $310.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $305.91.
Read Our Latest Report on NXPI
NXP Semiconductors Stock Down 2.6%
NXP Semiconductors (NASDAQ:NXPI – Get Free Report) last announced its earnings results on Wednesday, April 29th. The semiconductor provider reported $3.05 EPS for the quarter, beating the consensus estimate of $2.98 by $0.07. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.14 billion. NXP Semiconductors had a return on equity of 26.75% and a net margin of 21.03%.The company’s revenue was up 12.2% on a year-over-year basis. During the same period last year, the business posted $2.64 EPS. Research analysts expect that NXP Semiconductors will post 13.4 earnings per share for the current year.
Insiders Place Their Bets
In other NXP Semiconductors news, EVP Christopher L. Jensen sold 4,576 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $234.03, for a total value of $1,070,921.28. Following the transaction, the executive vice president owned 5,389 shares of the company’s stock, valued at $1,261,187.67. This trade represents a 45.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $315.57, for a total value of $315,570.00. Following the transaction, the executive vice president directly owned 8,942 shares of the company’s stock, valued at $2,821,826.94. This trade represents a 10.06% 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. Insiders have sold 12,611 shares of company stock valued at $3,182,068 over the last quarter. Insiders own 0.05% of the company’s stock.
Institutional Trading of NXP Semiconductors
A number of large investors have recently modified their holdings of NXPI. Vanguard Group Inc. boosted its stake in NXP Semiconductors by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 13,612,546 shares of the semiconductor provider’s stock valued at $2,954,739,000 after purchasing an additional 293,558 shares during the period. State Street Corp boosted its position in shares of NXP Semiconductors by 0.5% during the fourth quarter. State Street Corp now owns 11,043,159 shares of the semiconductor provider’s stock worth $2,407,382,000 after buying an additional 55,098 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in NXP Semiconductors by 1.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,849,741 shares of the semiconductor provider’s stock worth $1,703,865,000 after buying an additional 121,419 shares in the last quarter. Invesco Ltd. increased its position in NXP Semiconductors by 17.2% in the 4th quarter. Invesco Ltd. now owns 5,574,672 shares of the semiconductor provider’s stock valued at $1,210,038,000 after acquiring an additional 818,985 shares during the period. Finally, Geode Capital Management LLC raised its stake in NXP Semiconductors by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 5,463,756 shares of the semiconductor provider’s stock valued at $1,180,572,000 after acquiring an additional 30,804 shares in the last quarter. 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 headquartered in Eindhoven, the Netherlands, that designs and supplies mixed-signal and standard product solutions for a broad range of end markets. The company focuses on enabling secure connections and infrastructure for embedded applications, developing technologies used across automotive, industrial and Internet of Things (IoT), mobile, and communication infrastructure segments. NXP’s offerings target customers that require reliable, secure, and high-performance semiconductor components for connected devices and systems.
Product lines include microcontrollers and application processors, secure elements and authentication technologies, RF and high-power analog components, connectivity solutions, and vehicle networking and infotainment systems.
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