NXP Semiconductors (NASDAQ:NXPI) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded NXP Semiconductors to “Hold” from “Buy,” although the broader analyst consensus remains “Moderate Buy,” with an average price target of $305.43.
• NXPI shares opened at $223.58, well below their 50-day and 200-day moving averages of $257.48 and $252.32, respectively, and are down from a 52-week high of $339.95.
• NXP’s latest quarterly results exceeded expectations, with earnings of $3.61 per share versus $3.52 expected and revenue of $3.50 billion; revenue increased 19.5% year over year.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

NXPI has been the subject of a number of other research reports. UBS Group reaffirmed a "neutral" rating and set a $270.00 price target (down from $305.00) on shares of NXP Semiconductors in a report on Monday, August 3rd. Cantor Fitzgerald reissued an "overweight" rating and issued a $400.00 price objective on shares of NXP Semiconductors in a research note on Monday, August 17th. Weiss Ratings restated a "hold (c+)" rating on shares of NXP Semiconductors in a research report on Friday, July 31st. Morgan Stanley upped their target price on NXP Semiconductors from $335.00 to $338.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $300.00 target price on shares of NXP Semiconductors 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 given a Sell rating to the company's stock. According to MarketBeat, NXP Semiconductors presently has a consensus rating of "Moderate Buy" and an average target price of $305.43.

NXP Semiconductors Stock Down 1.0%

Shares of NASDAQ NXPI opened at $223.58 on Friday. The stock has a market capitalization of $56.38 billion, a P/E ratio of 19.08, a PEG ratio of 0.77 and a beta of 1.81. The stock's fifty day moving average is $257.48 and its 200 day moving average is $252.32. NXP Semiconductors has a 52 week low of $183.00 and a 52 week high of $339.95. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.36 and a current ratio of 2.04.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The semiconductor provider reported $3.61 earnings per share for the quarter, topping the consensus estimate of $3.52 by $0.09. The business had revenue of $3.50 billion during the quarter, compared to analysts' expectations of $3.47 billion. NXP Semiconductors had a net margin of 22.56% and a return on equity of 27.83%. NXP Semiconductors's revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.72 earnings per share. Sell-side analysts forecast that NXP Semiconductors will post 13.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Christopher L. Jensen sold 1,746 shares of the company's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $316.53, for a total transaction of $552,661.38. Following the completion of the transaction, the executive vice president directly owned 3,643 shares in the company, valued at $1,153,118.79. This represents a 32.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 Monday, June 15th. The shares were sold at an average price of $315.57, for a total transaction of $315,570.00. Following the completion of the transaction, the executive vice president directly owned 8,942 shares of the company's stock, valued at approximately $2,821,826.94. The trade was a 10.06% 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. Company insiders own 0.05% of the company's stock.

Institutional Trading of NXP Semiconductors

Hedge funds and other institutional investors have recently modified their holdings of the stock. Corient Private Wealth LP acquired a new stake in shares of NXP Semiconductors during the 2nd quarter valued at $97,000. Amundi bought a new stake in NXP Semiconductors during the 2nd quarter worth $513,420,000. HighTower Advisors LLC bought a new stake in NXP Semiconductors during the 2nd quarter worth $19,182,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in NXP Semiconductors in the 2nd quarter worth about $6,506,000. Finally, Financial Insights Inc. acquired a new position in NXP Semiconductors in the 2nd quarter worth about $231,000. Institutional investors 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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