Cantor Fitzgerald Reaffirms Overweight Rating for NXP Semiconductors (NASDAQ:NXPI)

Key Points

• Cantor Fitzgerald reaffirmed its “overweight” rating on NXP Semiconductors and set a $400 price target, implying roughly 70% upside from the reported $234.71 share price.
• Analyst sentiment is broadly positive: NXP has a consensus “Moderate Buy” rating and an average price target of $305.43, supported by 16 Buy ratings versus nine Holds and one Sell.
• NXP exceeded quarterly expectations, reporting $3.61 in EPS and $3.50 billion in revenue, with revenue increasing 19.5% year over year. Two executives sold shares under pre-arranged Rule 10b5-1 trading plans, while institutional investors own 90.54% of the stock.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report)'s stock had its "overweight" rating reiterated by analysts at Cantor Fitzgerald in a note issued to investors on Monday,Benzinga reports. They currently have a $400.00 target price on the semiconductor provider's stock. Cantor Fitzgerald's price target indicates a potential upside of 70.42% from the company's current price.

Several other brokerages also recently commented on NXPI. Raymond James Financial increased their target price on shares of NXP Semiconductors from $250.00 to $300.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Stifel Nicolaus set a $282.00 price objective on shares of NXP Semiconductors in a research report on Wednesday, July 29th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $290.00 price objective on shares of NXP Semiconductors in a research note on Wednesday, July 29th. Needham & Company LLC restated a "buy" rating and issued a $300.00 target price on shares of NXP Semiconductors in a research note on Wednesday, July 29th. Finally, Evercore upped their target price on NXP Semiconductors from $260.00 to $320.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Sixteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $305.43.

NXP Semiconductors Stock Performance

Shares of NXP Semiconductors stock opened at $234.71 on Monday. The business has a 50-day simple moving average of $273.07 and a 200 day simple moving average of $252.68. NXP Semiconductors has a one year low of $183.00 and a one year high of $339.95. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.04 and a quick ratio of 1.36. The firm has a market capitalization of $59.18 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 0.80 and a beta of 1.82.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The semiconductor provider reported $3.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.09. The business had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.47 billion. NXP Semiconductors had a return on equity of 27.83% and a net margin of 22.56%.The company's quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.72 earnings per share. On average, research analysts anticipate 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 NXP Semiconductors stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $316.53, for a total value of $552,661.38. Following the sale, the executive vice president owned 3,643 shares of the company's stock, valued at approximately $1,153,118.79. The trade was a 32.40% 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. 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 completion of the transaction, the executive vice president owned 8,942 shares in the company, 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. Insiders own 0.05% of the company's stock.

Institutional Investors Weigh In On NXP Semiconductors

Several large investors have recently added to or reduced their stakes in the company. JPL Wealth Management LLC purchased a new position in shares of NXP Semiconductors in the third quarter worth about $26,000. SHP Wealth Management purchased a new stake in NXP Semiconductors during the 4th quarter worth about $27,000. Allied Private Wealth LLC bought a new stake in shares of NXP Semiconductors during the second quarter valued at about $28,000. Fiduciary Financial Advisors bought a new position in shares of NXP Semiconductors in the second quarter valued at approximately $28,000. Finally, Acumen Wealth Advisors LLC bought a new stake in NXP Semiconductors during the 4th quarter worth approximately $28,000. 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.

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