Wells Fargo & Company Forecasts Strong Price Appreciation for NXP Semiconductors (NASDAQ:NXPI) Stock

Key Points

• Wells Fargo raised its price target on NXP Semiconductors from $265 to $305, implying modest upside from the current share price.
• Other analysts have also turned more bullish, with several recent target increases and buy ratings contributing to a Moderate Buy consensus and an average target price of $295.92.
• NXP reported solid quarterly results, beating EPS and revenue estimates, while revenue rose 12.2% year over year; the stock also traded up about 1.8% on the news.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) had its price objective raised by equities researchers at Wells Fargo & Company from $265.00 to $305.00 in a research report issued on Tuesday,MarketScreener reports. Wells Fargo & Company's price target suggests a potential upside of 1.28% from the company's current price.

NXPI has been the topic of several other research reports. Citigroup boosted their price objective on shares of NXP Semiconductors from $255.00 to $270.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Wall Street Zen upgraded NXP Semiconductors from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Jefferies Financial Group raised their price objective on NXP Semiconductors from $265.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Cantor Fitzgerald lifted their price objective on NXP Semiconductors from $380.00 to $400.00 and gave the stock an "overweight" rating in a report on Wednesday, May 13th. Finally, Oppenheimer upped their target price on NXP Semiconductors from $250.00 to $300.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $295.92.

NXP Semiconductors Stock Up 1.8%

NXPI opened at $301.14 on Tuesday. The business has a 50 day moving average of $262.29 and a 200-day moving average of $235.52. The stock has a market capitalization of $76.03 billion, a price-to-earnings ratio of 28.82, a P/E/G ratio of 1.07 and a beta of 1.77. The company has a current ratio of 2.24, a quick ratio of 1.55 and a debt-to-equity ratio of 1.00. NXP Semiconductors has a 1-year low of $183.00 and a 1-year high of $339.95.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last announced its earnings results on Wednesday, April 29th. The semiconductor provider reported $3.05 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the firm posted $2.64 earnings per share. NXP Semiconductors's revenue was up 12.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that NXP Semiconductors will post 13.38 earnings per share for the current year.

Insiders Place Their Bets

In other NXP Semiconductors news, EVP Andrew Hardy sold 5,289 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 2,020 shares of the company's stock, valued at approximately $474,700. This trade represents a 72.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher L. Jensen sold 1,746 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $316.53, for a total transaction of $552,661.38. Following the completion of the sale, the executive vice president owned 3,643 shares in the company, valued at $1,153,118.79. This represents a 32.40% decrease in their ownership of the stock. 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. In the last three months, insiders sold 12,611 shares of company stock valued at $3,061,078. 0.05% of the stock is currently owned by insiders.

Institutional Trading of NXP Semiconductors

A number of large investors have recently made changes to their positions in the company. JPL Wealth Management LLC bought a new stake in shares of NXP Semiconductors in the third quarter worth about $26,000. SHP Wealth Management bought a new position in shares of NXP Semiconductors during the 4th quarter valued at about $27,000. Acumen Wealth Advisors LLC acquired a new position in shares of NXP Semiconductors in the 4th quarter valued at approximately $28,000. Jessup Wealth Management Inc bought a new stake in NXP Semiconductors during the 4th quarter worth approximately $29,000. Finally, Quattro Advisors LLC bought a new stake in NXP Semiconductors during the 4th quarter worth approximately $30,000. 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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