NXP Semiconductors (NASDAQ:NXPI) Stock Price Target Cut by TD Cowen

by · The Cerbat Gem

NXP Semiconductors (NASDAQ:NXPI – Get Free Report) had its target price lowered by equities research analysts at TD Cowen from $290.00 to $275.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor provider’s stock. TD Cowen’s price target would indicate a potential upside of 19.47% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price target on shares of NXP Semiconductors in a report on Wednesday, July 29th. Citigroup reissued a “neutral” rating on shares of NXP Semiconductors in a research note on Monday, July 13th. JPMorgan Chase & Co. boosted their price objective on NXP Semiconductors from $295.00 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Bank of America restated a “neutral” rating on shares of NXP Semiconductors in a report on Wednesday, July 29th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $290.00 target price (up from $270.00) on shares of NXP Semiconductors in a research note on Wednesday, July 29th. Sixteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $304.26.

Check Out Our Latest Analysis on NXPI

NXP Semiconductors Stock Performance

NASDAQ NXPI opened at $230.19 on Monday. NXP Semiconductors has a 1-year low of $183.00 and a 1-year high of $339.95. The company has a 50 day moving average of $229.88 and a 200-day moving average of $256.68. The company has a current ratio of 2.04, a quick ratio of 1.36 and a debt-to-equity ratio of 0.88. The firm has a market cap of $58.04 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 0.78 and a beta of 1.80.

NXP Semiconductors (NASDAQ:NXPI – Get Free Report) last announced its earnings results on Wednesday, July 29th. The semiconductor provider reported $3.61 EPS for the quarter, topping the consensus estimate of $3.52 by $0.09. The business had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.47 billion. NXP Semiconductors had a return on equity of 27.83% and a net margin of 22.56%. NXP Semiconductors’s revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.72 EPS. On average, equities analysts forecast that NXP Semiconductors will post 13.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Andrew Micallef sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $226.04, for a total value of $226,040.00. Following the completion of the sale, the executive vice president owned 7,942 shares of the company’s stock, valued at $1,795,209.68. This trade represents a 11.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Jensen sold 3,355 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $240.00, for a total transaction of $805,200.00. Following the completion of the transaction, the executive vice president owned 288 shares of the company’s stock, valued at $69,120. This trade represents a 92.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.05% of the company’s stock.

Institutional Investors Weigh In On NXP Semiconductors

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in NXP Semiconductors in the second quarter valued at about $6,716,412,000. Wellington Management Group LLP acquired a new stake in NXP Semiconductors in the second quarter worth about $21,099,000. Bank of America Corp DE acquired a new stake in NXP Semiconductors in the second quarter worth about $1,169,846,000. Van ECK Associates Corp bought a new stake in NXP Semiconductors during the 2nd quarter worth about $1,167,458,000. Finally, Jupiter Topco LLC bought a new stake in NXP Semiconductors during the 2nd quarter worth about $742,385,000. 90.54% of the stock is owned by institutional investors and hedge funds.

About NXP Semiconductors

(Get Free Report)

NXP Semiconductors N.V. is a global semiconductor company that develops technologies for automotive, industrial, communications infrastructure, mobile, and Internet of Things applications. The company provides processing, connectivity, security, sensing, and power-management solutions that help enable connected and automated systems.

Its product portfolio includes microcontrollers and application processors, automotive networking and radar solutions, secure identification and authentication technologies, near-field communication products, radio-frequency power amplifiers, analog and mixed-signal devices, and wireless connectivity solutions.

Further Reading