Truist Financial Forecasts Strong Price Appreciation for NXP Semiconductors (NASDAQ:NXPI) Stock

NXP Semiconductors (NASDAQ:NXPI) had its price target boosted by equities researchers at Truist Financial from $254.00 to $265.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor provider’s stock. Truist Financial’s price objective would indicate a potential upside of 17.12% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. Stifel Nicolaus set a $215.00 price objective on NXP Semiconductors in a research report on Tuesday, October 28th. TD Cowen cut their price target on NXP Semiconductors from $270.00 to $260.00 and set a “buy” rating for the company in a report on Friday, October 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $280.00 price objective on shares of NXP Semiconductors in a report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of NXP Semiconductors in a research report on Wednesday, October 8th. Finally, Arete Research boosted their price target on shares of NXP Semiconductors from $273.90 to $324.40 and gave the stock a “buy” rating in a research report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $260.62.

NXP Semiconductors Trading Up 1.9%

Shares of NXPI opened at $226.27 on Friday. The firm has a market cap of $56.95 billion, a P/E ratio of 28.00, a price-to-earnings-growth ratio of 3.36 and a beta of 1.46. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.37 and a quick ratio of 1.69. NXP Semiconductors has a 1 year low of $148.09 and a 1 year high of $255.45. The company has a 50 day simple moving average of $211.38 and a two-hundred day simple moving average of $218.73.

NXP Semiconductors (NASDAQ:NXPI) last issued its earnings results on Tuesday, October 28th. The semiconductor provider reported $3.11 earnings per share for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.01). The company had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.15 billion. NXP Semiconductors had a return on equity of 26.92% and a net margin of 17.11%.NXP Semiconductors’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.45 EPS. On average, equities analysts expect that NXP Semiconductors will post 10.28 earnings per share for the current fiscal year.

Insider Buying and Selling at NXP Semiconductors

In other news, EVP Christopher L. Jensen sold 2,300 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $228.17, for a total value of $524,791.00. Following the sale, the executive vice president directly owned 9,965 shares in the company, valued at approximately $2,273,714.05. This represents a 18.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jennifer Wuamett sold 8,372 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $207.01, for a total transaction of $1,733,087.72. Following the completion of the transaction, the executive vice president owned 19,175 shares in the company, valued at approximately $3,969,416.75. The trade was a 30.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On NXP Semiconductors

Hedge funds have recently modified their holdings of the business. Shelton Capital Management increased its holdings in shares of NXP Semiconductors by 16.1% during the 2nd quarter. Shelton Capital Management now owns 83,378 shares of the semiconductor provider’s stock worth $18,217,000 after buying an additional 11,577 shares during the last quarter. Alberta Investment Management Corp purchased a new position in NXP Semiconductors in the second quarter worth approximately $3,540,000. Vantage Investment Partners LLC increased its stake in NXP Semiconductors by 5.2% during the second quarter. Vantage Investment Partners LLC now owns 34,193 shares of the semiconductor provider’s stock worth $7,471,000 after acquiring an additional 1,675 shares during the last quarter. CCLA Investment Management raised its position in NXP Semiconductors by 6.5% in the second quarter. CCLA Investment Management now owns 545,580 shares of the semiconductor provider’s stock valued at $119,121,000 after purchasing an additional 33,112 shares during the period. Finally, OMERS ADMINISTRATION Corp raised its position in NXP Semiconductors by 13.6% in the second quarter. OMERS ADMINISTRATION Corp now owns 58,645 shares of the semiconductor provider’s stock valued at $12,813,000 after purchasing an additional 7,034 shares during the period. 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.