JPMorgan Chase & Co. Increases NXP Semiconductors (NASDAQ:NXPI) Price Target to $240.00

NXP Semiconductors (NASDAQ:NXPI - Free Report) had its target price hoisted by JPMorgan Chase & Co. from $205.00 to $240.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the semiconductor provider's stock.

NXPI has been the subject of a number of other reports. Stifel Nicolaus lifted their price target on shares of NXP Semiconductors from $170.00 to $210.00 and gave the company a "hold" rating in a research report on Friday, July 18th. Susquehanna lifted their target price on shares of NXP Semiconductors from $195.00 to $210.00 and gave the company a "neutral" rating in a report on Wednesday. KeyCorp boosted their price target on NXP Semiconductors from $240.00 to $275.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. UBS Group raised their price objective on NXP Semiconductors from $250.00 to $276.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $250.00 price objective on shares of NXP Semiconductors in a research note on Tuesday. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $256.05.

NXP Semiconductors Stock Down 0.1%

Shares of NXPI traded down $0.28 on Wednesday, reaching $224.43. The stock had a trading volume of 2,409,549 shares, compared to its average volume of 2,647,729. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.47 and a current ratio of 1.74. NXP Semiconductors has a 12-month low of $148.09 and a 12-month high of $264.54. The firm has a market capitalization of $56.70 billion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 2.66 and a beta of 1.40. The company has a 50-day simple moving average of $214.92 and a 200-day simple moving average of $206.45.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The semiconductor provider reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.66 by $0.06. NXP Semiconductors had a return on equity of 27.72% and a net margin of 17.72%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the prior year, the company earned $3.20 earnings per share. The firm's quarterly revenue was down 6.4% compared to the same quarter last year. Sell-side analysts predict that NXP Semiconductors will post 10.28 EPS for the current year.

NXP Semiconductors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 25th were given a $1.014 dividend. The ex-dividend date of this dividend was Wednesday, June 25th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.81%. NXP Semiconductors's payout ratio is currently 48.39%.

Insider Activity at NXP Semiconductors

In other NXP Semiconductors news, EVP Jennifer Wuamett sold 9,132 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $230.00, for a total value of $2,100,360.00. Following the completion of the sale, the executive vice president owned 27,088 shares in the company, valued at approximately $6,230,240. This represents a 25.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.12% of the stock is owned by insiders.

Hedge Funds Weigh In On NXP Semiconductors

Several large investors have recently made changes to their positions in the business. Hemington Wealth Management boosted its holdings in shares of NXP Semiconductors by 50.0% during the 1st quarter. Hemington Wealth Management now owns 177 shares of the semiconductor provider's stock valued at $33,000 after purchasing an additional 59 shares during the last quarter. Brown Lisle Cummings Inc. lifted its position in shares of NXP Semiconductors by 121.7% in the second quarter. Brown Lisle Cummings Inc. now owns 153 shares of the semiconductor provider's stock worth $33,000 after buying an additional 84 shares in the last quarter. Valley National Advisers Inc. boosted its stake in NXP Semiconductors by 118.9% during the first quarter. Valley National Advisers Inc. now owns 232 shares of the semiconductor provider's stock valued at $43,000 after buying an additional 126 shares during the last quarter. Ameriflex Group Inc. purchased a new position in NXP Semiconductors during the 4th quarter valued at approximately $44,000. Finally, Hilltop National Bank bought a new stake in NXP Semiconductors in the 2nd quarter worth approximately $44,000. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

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.