NXP Semiconductors (NASDAQ:NXPI) Given New $310.00 Price Target at Bank of America

Key Points

• Bank of America raised its price target on NXP Semiconductors from $275 to $310 while keeping a neutral rating, implying about 8.9% upside from the current price.
• Other analysts have also turned more constructive, with several boosting targets and ratings; the consensus view is now Moderate Buy with an average price target of $305.91.
• NXP reported better-than-expected quarterly results, posting EPS of $3.05 versus $2.98 expected and revenue of $3.18 billion, up 12.2% year over year.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) had its price target boosted by equities research analysts at Bank of America from $275.00 to $310.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the semiconductor provider's stock. Bank of America's target price indicates a potential upside of 8.93% from the company's current price.

Other equities research analysts also recently issued reports about the stock. Oppenheimer lifted their price target on shares of NXP Semiconductors from $250.00 to $300.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Stifel Nicolaus raised their price objective on NXP Semiconductors from $215.00 to $250.00 and gave the company a "hold" rating in a research note on Friday, April 24th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of NXP Semiconductors in a report on Wednesday, April 29th. Wall Street Zen raised NXP Semiconductors from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Finally, Raymond James Financial raised their price target on NXP Semiconductors from $250.00 to $300.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, NXP Semiconductors presently has a consensus rating of "Moderate Buy" and an average price target of $305.91.

NXP Semiconductors Price Performance

Shares of NASDAQ NXPI traded down $7.66 during trading on Monday, hitting $284.60. 332,627 shares of the company were exchanged, compared to its average volume of 3,451,437. The company has a market cap of $71.85 billion, a price-to-earnings ratio of 27.33, a PEG ratio of 1.05 and a beta of 1.79. NXP Semiconductors has a 1 year low of $183.00 and a 1 year high of $339.95. The firm's fifty day moving average price is $300.17 and its 200 day moving average price is $248.86. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.24 and a quick ratio of 1.55.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The semiconductor provider reported $3.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.98 by $0.07. NXP Semiconductors had a net margin of 21.03% and a return on equity of 26.75%. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter last year, the firm posted $2.64 EPS. The business's revenue was up 12.2% compared to the same quarter last year. On average, sell-side analysts expect that NXP Semiconductors will post 13.4 earnings per share for the current fiscal year.

Insider Activity at NXP Semiconductors

In related news, EVP Andrew Micallef sold 1,000 shares of the stock in a transaction dated 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 directly owned 8,942 shares in the company, valued at approximately $2,821,826.94. This represents a 10.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Hardy sold 5,289 shares of NXP Semiconductors stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $235.00, for a total value of $1,242,915.00. Following the completion of the sale, the executive vice president owned 2,020 shares of the company's stock, valued at $474,700. This trade represents a 72.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 12,611 shares of company stock worth $3,182,068. 0.05% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NXP Semiconductors

Large investors have recently bought and sold shares of the stock. JPL Wealth Management LLC acquired a new stake in shares of NXP Semiconductors during the 3rd quarter worth $26,000. SHP Wealth Management purchased a new stake in NXP Semiconductors during the fourth quarter valued at about $27,000. Allied Private Wealth LLC acquired a new stake in NXP Semiconductors during the second quarter worth about $28,000. Acumen Wealth Advisors LLC purchased a new position in shares of NXP Semiconductors in the 4th quarter worth about $28,000. Finally, Jessup Wealth Management Inc acquired a new position in shares of NXP Semiconductors in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 90.54% of the company's stock.

NXP Semiconductors Company Profile

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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