NXP Semiconductors (NASDAQ:NXPI) Releases Q2 2024 Earnings Guidance

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) issued an update on its second quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 3.000-3.410 for the period, compared to the consensus estimate of 3.110. The company issued revenue guidance of $3.0 billion-$3.2 billion, compared to the consensus revenue estimate of $3.1 billion. NXP Semiconductors also updated its Q2 guidance to $3.00-3.41 EPS.

NXP Semiconductors Price Performance

Shares of NXPI stock traded up $4.43 during mid-day trading on Monday, reaching $247.13. The stock had a trading volume of 2,954,715 shares, compared to its average volume of 2,357,178. NXP Semiconductors has a 12-month low of $161.23 and a 12-month high of $264.26. The company has a market cap of $63.29 billion, a P/E ratio of 22.66, a price-to-earnings-growth ratio of 0.92 and a beta of 1.59. The business has a 50-day simple moving average of $241.20 and a 200 day simple moving average of $219.97. The company has a current ratio of 1.91, a quick ratio of 1.39 and a debt-to-equity ratio of 1.14.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last posted its quarterly earnings data on Monday, February 5th. The semiconductor provider reported $3.37 EPS for the quarter, topping analysts' consensus estimates of $3.33 by $0.04. The firm had revenue of $3.42 billion during the quarter, compared to analysts' expectations of $3.40 billion. NXP Semiconductors had a return on equity of 38.94% and a net margin of 21.07%. On average, sell-side analysts anticipate that NXP Semiconductors will post 12.21 earnings per share for the current year.

NXP Semiconductors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Thursday, March 21st were issued a $1.014 dividend. This represents a $4.06 annualized dividend and a yield of 1.64%. The ex-dividend date was Wednesday, March 20th. NXP Semiconductors's dividend payout ratio (DPR) is 37.91%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Cantor Fitzgerald lifted their price objective on NXP Semiconductors from $270.00 to $290.00 and gave the company an overweight rating in a research note on Monday, April 8th. Stifel Nicolaus lifted their price objective on NXP Semiconductors from $190.00 to $210.00 and gave the company a hold rating in a research note on Tuesday, January 2nd. Evercore ISI assumed coverage on NXP Semiconductors in a research note on Tuesday, April 16th. They issued an outperform rating and a $300.00 price objective on the stock. Barclays raised NXP Semiconductors from an equal weight rating to an overweight rating and lifted their price objective for the company from $200.00 to $260.00 in a research note on Tuesday, January 16th. Finally, Morgan Stanley lifted their price objective on NXP Semiconductors from $221.00 to $224.00 and gave the company an equal weight rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, NXP Semiconductors has an average rating of Moderate Buy and a consensus price target of $242.29.

NXP Semiconductors Company Profile

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.

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