NXP Semiconductors (NASDAQ:NXPI) Cut to “Hold” at Wells Fargo & Company

NXP Semiconductors (NASDAQ:NXPI) was downgraded by stock analysts at Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Citigroup reduced their price target on shares of NXP Semiconductors from $285.00 to $255.00 and set a “buy” rating for the company in a research report on Wednesday, February 4th. JPMorgan Chase & Co. increased their price objective on shares of NXP Semiconductors from $245.00 to $250.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Bank of America reiterated a “neutral” rating and issued a $230.00 price objective (down from $245.00) on shares of NXP Semiconductors in a report on Monday, April 13th. Needham & Company LLC reiterated a “buy” rating and issued a $250.00 price objective on shares of NXP Semiconductors in a report on Tuesday, February 3rd. Finally, KeyCorp increased their price objective on shares of NXP Semiconductors from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.53.

NXP Semiconductors Stock Up 2.5%

NXPI opened at $221.34 on Monday. NXP Semiconductors has a twelve month low of $166.60 and a twelve month high of $256.36. The company has a quick ratio of 1.38, a current ratio of 2.05 and a debt-to-equity ratio of 1.09. The company has a 50-day moving average price of $211.51 and a 200 day moving average price of $216.68. The company has a market cap of $55.93 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 0.99 and a beta of 1.46.

NXP Semiconductors (NASDAQ:NXPI) last released its quarterly earnings results on Tuesday, February 3rd. The semiconductor provider reported $3.35 earnings per share for the quarter, topping the consensus estimate of $3.31 by $0.04. NXP Semiconductors had a net margin of 16.47% and a return on equity of 26.72%. The firm had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter in the prior year, the firm earned $3.18 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Sell-side analysts expect that NXP Semiconductors will post 12.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NXP Semiconductors news, EVP Andrew Micallef sold 1,000 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $194.58, for a total value of $194,580.00. Following the completion of the sale, the executive vice president owned 9,942 shares in the company, valued at approximately $1,934,514.36. This represents a 9.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.12% of the company’s stock.

Institutional Trading of NXP Semiconductors

Hedge funds have recently made changes to their positions in the company. JPL Wealth Management LLC purchased a new stake in shares of NXP Semiconductors in the 3rd quarter valued at approximately $26,000. SHP Wealth Management purchased a new stake in shares of NXP Semiconductors in the 4th quarter valued at approximately $27,000. CNB Bank purchased a new stake in shares of NXP Semiconductors in the 3rd quarter valued at approximately $28,000. Acumen Wealth Advisors LLC purchased a new stake in shares of NXP Semiconductors in the 4th quarter valued at approximately $28,000. Finally, Jessup Wealth Management Inc purchased a new stake in shares of NXP Semiconductors in the 4th quarter valued at approximately $29,000. 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 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.