NXP Semiconductors to Post Q2 2024 Earnings of $2.82 Per Share, Zacks Research Forecasts (NASDAQ:NXPI)

NXP Semiconductors (NASDAQ:NXPI - Free Report) - Stock analysts at Zacks Research upped their Q2 2024 earnings per share estimates for shares of NXP Semiconductors in a research report issued to clients and investors on Monday, May 20th. Zacks Research analyst R. Department now anticipates that the semiconductor provider will earn $2.82 per share for the quarter, up from their prior estimate of $2.79. The consensus estimate for NXP Semiconductors' current full-year earnings is $12.44 per share.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last released its quarterly earnings results on Monday, April 29th. The semiconductor provider reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.07. NXP Semiconductors had a return on equity of 37.65% and a net margin of 21.24%. The company had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.13 billion.

Several other analysts have also weighed in on NXPI. Morgan Stanley increased their price target on NXP Semiconductors from $221.00 to $224.00 and gave the company an "equal weight" rating in a report on Wednesday, February 7th. TD Cowen increased their target price on NXP Semiconductors from $270.00 to $300.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 12th. Oppenheimer increased their target price on NXP Semiconductors from $250.00 to $295.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 1st. Susquehanna increased their target price on NXP Semiconductors from $200.00 to $225.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 7th. Finally, Mizuho increased their target price on NXP Semiconductors from $225.00 to $265.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $263.00.

NXP Semiconductors Trading Up 0.3 %

NASDAQ:NXPI traded up $0.85 during midday trading on Tuesday, hitting $274.42. 1,155,929 shares of the company traded hands, compared to its average volume of 2,299,607. The firm's fifty day moving average is $246.09 and its 200-day moving average is $228.60. NXP Semiconductors has a 12-month low of $163.26 and a 12-month high of $275.49. The firm has a market capitalization of $70.16 billion, a P/E ratio of 25.26, a P/E/G ratio of 0.97 and a beta of 1.54. The company has a current ratio of 2.35, a quick ratio of 1.64 and a debt-to-equity ratio of 1.11.

Institutional Investors Weigh In On NXP Semiconductors

Several institutional investors have recently added to or reduced their stakes in the business. Beacon Capital Management LLC boosted its holdings in NXP Semiconductors by 36.4% in the first quarter. Beacon Capital Management LLC now owns 150 shares of the semiconductor provider's stock worth $37,000 after acquiring an additional 40 shares in the last quarter. Lincoln National Corp lifted its holdings in shares of NXP Semiconductors by 1.9% during the fourth quarter. Lincoln National Corp now owns 2,473 shares of the semiconductor provider's stock worth $568,000 after purchasing an additional 46 shares during the period. Peterson Wealth Services lifted its holdings in shares of NXP Semiconductors by 3.1% during the first quarter. Peterson Wealth Services now owns 1,520 shares of the semiconductor provider's stock worth $377,000 after purchasing an additional 46 shares during the period. RFG Advisory LLC lifted its holdings in shares of NXP Semiconductors by 1.6% during the first quarter. RFG Advisory LLC now owns 2,987 shares of the semiconductor provider's stock worth $740,000 after purchasing an additional 47 shares during the period. Finally, CreativeOne Wealth LLC lifted its holdings in shares of NXP Semiconductors by 4.5% during the first quarter. CreativeOne Wealth LLC now owns 1,103 shares of the semiconductor provider's stock worth $274,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 90.54% of the company's stock.

NXP Semiconductors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Thursday, March 21st were given a dividend of $1.014 per share. This represents a $4.06 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Wednesday, March 20th. NXP Semiconductors's payout ratio is currently 37.49%.

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.