NXP Semiconductors N.V. (NASDAQ:NXPI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

According to Zacks, “NXP Semiconductors N.V. is a global semiconductor company. The Company designs and manufactures High Performance Mixed Signal semiconductor solutions to meet the requirements of systems and sub-systems in its target markets. High Performance Mixed Signal solutions are an optimized mix of analog and digital functionality integrated into a system or sub-system. The Company’s expertise is in RF, analog, power management, interface, security and digital processing products. NXP’s solutions are used in a wide range of automotive, identification, wireless infrastructure, lighting, industrial, mobile, consumer and computing applications. The Company claims to provide its customers improved power efficiency, functional performance, miniaturization, quality, durability and adaptability in their electronic systems and application solutions. NXP is based in Eindhoven, the Netherlands, with research and development activities in Asia, Europe and the United States, and manufacturing facilities in Asia and Europe. “

NXPI has been the subject of a number of other research reports. Deutsche Bank AG cut shares of NXP Semiconductors N.V. from a “buy” rating to a “hold” rating and set a $110.00 price objective for the company. in a research report on Monday, June 19th. KeyCorp reiterated a “hold” rating on shares of NXP Semiconductors N.V. in a report on Friday, September 8th. Stifel Nicolaus reissued a “hold” rating and issued a $110.00 target price on shares of NXP Semiconductors N.V. in a research report on Tuesday, July 4th. Drexel Hamilton reissued a “hold” rating and issued a $110.00 target price on shares of NXP Semiconductors N.V. in a research report on Thursday, August 3rd. Finally, Mizuho restated a “hold” rating and set a $110.00 price target on shares of NXP Semiconductors N.V. in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. NXP Semiconductors N.V. currently has a consensus rating of “Hold” and a consensus target price of $110.97.

NXP Semiconductors N.V. (NASDAQ NXPI) opened at 113.36 on Wednesday. NXP Semiconductors N.V. has a 52-week low of $95.88 and a 52-week high of $113.43. The company has a market cap of $28.54 billion, a P/E ratio of 20.13 and a beta of 0.88. The stock’s 50 day moving average price is $112.61 and its 200-day moving average price is $108.94.

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Several hedge funds have recently modified their holdings of NXPI. NINE MASTS CAPITAL Ltd acquired a new stake in NXP Semiconductors N.V. in the second quarter valued at $10,258,000. Proxima Capital Management LLC purchased a new stake in NXP Semiconductors N.V. during the 1st quarter worth about $2,588,000. Renaissance Group LLC lifted its holdings in NXP Semiconductors N.V. by 2.8% during the 2nd quarter. Renaissance Group LLC now owns 153,688 shares of the semiconductor provider’s stock worth $16,821,000 after buying an additional 4,129 shares during the last quarter. Everett Capital Advisors UK LLP purchased a new stake in NXP Semiconductors N.V. during the 1st quarter worth about $16,301,000. Finally, Exane Asset Management purchased a new stake in NXP Semiconductors N.V. during the 2nd quarter worth about $2,342,000. Hedge funds and other institutional investors own 78.88% of the company’s stock.

About NXP Semiconductors N.V.

NXP Semiconductors N.V. (NXP) is a holding company. The Company operates as a semiconductor company. The Company provides high performance mixed signal and standard product solutions. The Company’s segments are High Performance Mixed Signal (HPMS), Standard Products (SP), and Corporate and Other. Its product solutions are used in a range of end-market applications, including automotive, personal security and identification, wireless and wireline infrastructure, mobile communications, multi-market industrial, consumer and computing.

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