NXP Semiconductors (NASDAQ:NXPI) Downgraded to Buy Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded NXP Semiconductors from “strong buy” to “buy,” while the broader analyst consensus remains “Moderate Buy,” with an average price target of $305.43.
• NXP reported quarterly earnings of $3.61 per share, surpassing estimates of $3.52, while revenue reached $3.50 billion and rose 19.5% year over year.
• The stock opened at $239.71, with a market capitalization of approximately $60.45 billion; insiders recently sold shares, while institutional investors and hedge funds own 90.54% of the company.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Sunday.

A number of other equities research analysts have also recently commented on the company. Wells Fargo & Company decreased their price target on NXP Semiconductors from $290.00 to $280.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 29th. Needham & Company LLC reiterated a "buy" rating and set a $300.00 price objective on shares of NXP Semiconductors in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of NXP Semiconductors in a research note on Wednesday, April 29th. Wolfe Research lifted their price target on shares of NXP Semiconductors from $270.00 to $320.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Finally, KeyCorp boosted their price objective on NXP Semiconductors from $300.00 to $345.00 and gave the company an "overweight" 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $305.43.

NXP Semiconductors Stock Up 3.4%

NXPI opened at $239.71 on Friday. NXP Semiconductors has a 1-year low of $183.00 and a 1-year high of $339.95. The firm's 50 day simple moving average is $281.17 and its two-hundred day simple moving average is $252.53. The company has a market capitalization of $60.45 billion, a PE ratio of 20.45, a PEG ratio of 0.82 and a beta of 1.81. The company has a current ratio of 2.04, a quick ratio of 1.36 and a debt-to-equity ratio of 0.88.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last released its earnings results on Wednesday, July 29th. The semiconductor provider reported $3.61 earnings per share for the quarter, beating the consensus estimate of $3.52 by $0.09. NXP Semiconductors had a return on equity of 27.83% and a net margin of 22.56%.The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the previous year, the business earned $2.72 earnings per share. NXP Semiconductors's quarterly revenue was up 19.5% compared to the same quarter last year. As a group, equities analysts forecast that NXP Semiconductors will post 13.73 EPS for the current year.

Insider Activity

In other NXP Semiconductors news, EVP Christopher L. Jensen sold 1,746 shares of NXP Semiconductors stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $316.53, for a total value of $552,661.38. Following the transaction, the executive vice president owned 3,643 shares in the company, valued at $1,153,118.79. The trade was a 32.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Micallef sold 1,000 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $315.57, for a total transaction of $315,570.00. Following the transaction, the executive vice president owned 8,942 shares of the company's stock, valued at approximately $2,821,826.94. This trade represents 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. 0.05% of the stock is owned by insiders.

Hedge Funds Weigh In On NXP Semiconductors

Several hedge funds have recently made changes to their positions in NXPI. Wealthfront Advisers LLC acquired a new position in NXP Semiconductors in the 2nd quarter worth approximately $2,087,000. Foster & Motley Inc. acquired a new position in shares of NXP Semiconductors in the second quarter worth about $406,000. Figure 8 Investment Strategies LLC acquired a new position in NXP Semiconductors in the 2nd quarter worth about $2,965,000. K2 Principal Fund L.P. purchased a new position in shares of NXP Semiconductors during the 2nd quarter valued at approximately $281,000. Finally, Meeder Advisory Services Inc. purchased a new position in NXP Semiconductors during the second quarter valued at $1,576,000. 90.54% of the stock is owned by institutional investors and hedge funds.

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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