NXP Semiconductors (NASDAQ:NXPI) Price Target Raised to $305.00

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) had its price target raised by Wells Fargo & Company from $285.00 to $305.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an "overweight" rating on the semiconductor provider's stock. Wells Fargo & Company's target price would suggest a potential upside of 9.39% from the stock's previous close.

Several other research analysts have also issued reports on NXPI. Oppenheimer increased their price target on shares of 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 price target on shares of NXP Semiconductors from $200.00 to $225.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 7th. JPMorgan Chase & Co. increased their price target on shares of NXP Semiconductors from $240.00 to $280.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 1st. Jefferies Financial Group assumed coverage on shares of NXP Semiconductors in a research note on Monday, May 13th. They issued a "buy" rating and a $325.00 price target for the company. Finally, Truist Financial increased their price target on shares of NXP Semiconductors from $265.00 to $291.00 and gave the stock a "buy" 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $265.40.

NXP Semiconductors Stock Up 1.6 %

Shares of NXPI traded up $4.41 on Wednesday, reaching $278.83. The stock had a trading volume of 2,178,682 shares, compared to its average volume of 2,298,409. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.64 and a current ratio of 2.35. NXP Semiconductors has a 12-month low of $163.26 and a 12-month high of $280.24. The firm has a market capitalization of $71.29 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 0.99 and a beta of 1.54. The company has a 50-day simple moving average of $246.98 and a 200-day simple moving average of $229.60.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last announced its quarterly earnings data on Monday, April 29th. The semiconductor provider reported $2.85 EPS for the quarter, beating the consensus estimate of $2.78 by $0.07. The business had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.13 billion. NXP Semiconductors had a return on equity of 37.65% and a net margin of 21.24%. Sell-side analysts predict that NXP Semiconductors will post 12.44 EPS for the current year.

Hedge Funds Weigh In On NXP Semiconductors

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC boosted its holdings in shares of NXP Semiconductors by 0.4% in the third quarter. FMR LLC now owns 25,779,812 shares of the semiconductor provider's stock worth $5,153,900,000 after buying an additional 91,453 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of NXP Semiconductors by 17.3% in the first quarter. Vanguard Group Inc. now owns 12,921,432 shares of the semiconductor provider's stock worth $3,201,543,000 after buying an additional 1,909,898 shares during the last quarter. Norges Bank purchased a new position in shares of NXP Semiconductors in the fourth quarter worth approximately $762,077,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of NXP Semiconductors by 893.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,332,578 shares of the semiconductor provider's stock worth $535,747,000 after buying an additional 2,097,727 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of NXP Semiconductors by 4.4% in the third quarter. Ameriprise Financial Inc. now owns 2,205,035 shares of the semiconductor provider's stock worth $440,841,000 after buying an additional 92,571 shares during the last quarter. Hedge funds and other institutional investors own 90.54% of the company's stock.

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.