Evercore ISI Forecasts Strong Price Appreciation for NXP Semiconductors (NASDAQ:NXPI) Stock

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) had its price target upped by Evercore ISI from $237.00 to $289.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the semiconductor provider's stock. Evercore ISI's target price would indicate a potential upside of 32.93% from the company's previous close.

Several other research firms have also issued reports on NXPI. Needham & Company LLC dropped their price target on shares of NXP Semiconductors from $230.00 to $225.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Stifel Nicolaus dropped their price objective on shares of NXP Semiconductors from $210.00 to $170.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. Arete Research raised shares of NXP Semiconductors to a "strong-buy" rating in a research report on Tuesday, March 25th. Mizuho increased their price objective on shares of NXP Semiconductors from $240.00 to $255.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Finally, Morgan Stanley set a $229.00 price objective on shares of NXP Semiconductors in a research report on Monday, April 21st. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $244.78.

NXP Semiconductors Price Performance

NXPI traded down $0.01 during midday trading on Thursday, hitting $217.40. The company had a trading volume of 1,710,989 shares, compared to its average volume of 2,723,596. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.60 and a current ratio of 2.36. The company has a market capitalization of $54.92 billion, a PE ratio of 22.34, a P/E/G ratio of 3.01 and a beta of 1.39. NXP Semiconductors has a twelve month low of $148.09 and a twelve month high of $296.08. The firm's 50-day simple moving average is $190.35 and its 200-day simple moving average is $205.56.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The semiconductor provider reported $2.64 EPS for the quarter, topping the consensus estimate of $2.59 by $0.05. NXP Semiconductors had a net margin of 19.90% and a return on equity of 31.45%. The company had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.83 billion. During the same quarter in the previous year, the company earned $3.24 EPS. NXP Semiconductors's revenue was down 9.3% on a year-over-year basis. Equities research analysts predict that NXP Semiconductors will post 10.28 EPS for the current fiscal year.

Insider Activity

In other NXP Semiconductors news, COO Andrew Micallef sold 1,000 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $204.86, for a total transaction of $204,860.00. Following the completion of the sale, the chief operating officer now directly owns 8,828 shares of the company's stock, valued at $1,808,504.08. This trade represents a 10.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.12% of the company's stock.

Institutional Trading of NXP Semiconductors

Institutional investors and hedge funds have recently made changes to their positions in the business. Smithfield Trust Co purchased a new position in NXP Semiconductors in the fourth quarter valued at about $32,000. Runnymede Capital Advisors Inc. purchased a new position in NXP Semiconductors in the fourth quarter valued at about $32,000. Hemington Wealth Management grew its stake in NXP Semiconductors by 50.0% in the first quarter. Hemington Wealth Management now owns 177 shares of the semiconductor provider's stock valued at $33,000 after purchasing an additional 59 shares during the last quarter. Valley National Advisers Inc. grew its stake in NXP Semiconductors by 118.9% in the first quarter. Valley National Advisers Inc. now owns 232 shares of the semiconductor provider's stock valued at $43,000 after purchasing an additional 126 shares during the last quarter. Finally, Ameriflex Group Inc. purchased a new position in NXP Semiconductors in the fourth quarter valued at about $44,000. 90.54% of the stock is currently owned by institutional investors.

About NXP Semiconductors

NXP Semiconductors N.V. offers various semiconductor products. The company's product portfolio includes microcontrollers; application processors, including i.MX application processors, and i.MX 8 and 9 family of applications processors; communication processors; wireless connectivity solutions, such as near field communications, ultra-wideband, Bluetooth low-energy, Zigbee, and Wi-Fi and Wi-Fi/Bluetooth integrated SoCs; analog and interface devices; radio frequency power amplifiers; and security controllers, as well as semiconductor-based environmental and inertial sensors, including pressure, inertial, magnetic, and gyroscopic sensors.