NXP Semiconductors (NASDAQ:NXPI) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded NXP Semiconductors from “hold” to “buy.” Overall, analysts maintain a “Moderate Buy” consensus with an average price target of $305.43.
• NXP reported quarterly EPS of $3.61, exceeding estimates of $3.52, while revenue reached $3.50 billion and increased 19.5% year over year.
• NXP shares opened at $227.84, well below their 52-week high of $339.95; institutional investors own approximately 90.54% of the stock.

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

NXPI has been the subject of several other reports. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $290.00 price objective on shares of NXP Semiconductors in a research note on Wednesday, July 29th. Cantor Fitzgerald reiterated an "overweight" rating and set a $400.00 target price on shares of NXP Semiconductors in a research report on Monday, August 17th. Wells Fargo & Company lowered their target price on NXP Semiconductors from $290.00 to $280.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 29th. Bank of America reaffirmed a "neutral" rating on shares of NXP Semiconductors in a research note on Wednesday, July 29th. Finally, Citigroup reiterated a "neutral" rating on shares of NXP Semiconductors in a research report on Monday, July 13th. Sixteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, NXP Semiconductors currently has a consensus rating of "Moderate Buy" and an average target price of $305.43.

NXP Semiconductors Stock Up 1.3%

NXPI stock opened at $227.84 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.36 and a debt-to-equity ratio of 0.88. The company's 50-day moving average price is $250.20 and its 200 day moving average price is $251.80. NXP Semiconductors has a 52 week low of $183.00 and a 52 week high of $339.95. The company has a market cap of $57.45 billion, a P/E ratio of 19.44, a P/E/G ratio of 0.77 and a beta of 1.81.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last issued its earnings results on Wednesday, July 29th. The semiconductor provider reported $3.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.52 by $0.09. NXP Semiconductors had a net margin of 22.56% and a return on equity of 27.83%. The company had revenue of $3.50 billion during the quarter, compared to analysts' expectations of $3.47 billion. During the same period last year, the company posted $2.72 earnings per share. The firm's quarterly revenue was up 19.5% compared to the same quarter last year. On average, research analysts expect that NXP Semiconductors will post 13.73 earnings per share for the current fiscal year.

Insider Activity at NXP Semiconductors

In related news, EVP Andrew Micallef sold 1,000 shares of NXP Semiconductors stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $315.57, for a total transaction of $315,570.00. Following the completion of the sale, the executive vice president owned 8,942 shares in the company, valued at approximately $2,821,826.94. This trade represents a 10.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NXP Semiconductors

Several hedge funds have recently modified their holdings of NXPI. California State Teachers Retirement System raised its position in shares of NXP Semiconductors by 29,659.8% in the second quarter. California State Teachers Retirement System now owns 106,611,541 shares of the semiconductor provider's stock valued at $29,961,041,000 after buying an additional 106,253,301 shares during the last quarter. BlackRock Inc. acquired a new stake in NXP Semiconductors during the second quarter worth approximately $6,716,412,000. State Street Corp grew its stake in NXP Semiconductors by 0.5% in the 4th quarter. State Street Corp now owns 11,043,159 shares of the semiconductor provider's stock worth $2,407,382,000 after acquiring an additional 55,098 shares during the period. Wellington Management Group LLP purchased a new stake in NXP Semiconductors in the 2nd quarter worth approximately $21,099,000. Finally, Invesco Ltd. raised its holdings 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 last quarter. 90.54% of the stock is owned by institutional investors and hedge funds.

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.

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