NXP Semiconductors (NASDAQ:NXPI) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of NXP Semiconductors (NASDAQ:NXPI) from a buy rating to a hold rating in a research report sent to investors on Friday, Zacks.com reports.

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. “

A number of other research firms also recently commented on NXPI. Morgan Stanley reiterated a neutral rating and issued a $230.00 target price on shares of Tesla in a research report on Wednesday, June 12th. Bank of America reiterated a buy rating and issued a $105.00 target price (up from $100.00) on shares of Zendesk in a research report on Wednesday, May 1st. Mizuho boosted their target price on NXP Semiconductors from $95.00 to $100.00 and gave the stock a neutral rating in a research report on Wednesday, May 1st. ValuEngine upgraded Valmont Industries from a sell rating to a hold rating in a research report on Friday, July 12th. Finally, Stifel Nicolaus decreased their target price on MacroGenics from $36.00 to $29.00 and set a buy rating on the stock in a research report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. NXP Semiconductors presently has a consensus rating of Buy and a consensus price target of $101.42.

NASDAQ:NXPI opened at $97.96 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $32.20 billion, a P/E ratio of 16.49, a P/E/G ratio of 1.19 and a beta of 1.27. NXP Semiconductors has a 12 month low of $67.62 and a 12 month high of $108.51. The stock has a 50-day moving average price of $95.41.

NXP Semiconductors (NASDAQ:NXPI) last posted its earnings results on Monday, April 29th. The semiconductor provider reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.47. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.09 billion. NXP Semiconductors had a return on equity of 18.33% and a net margin of 23.06%. Equities research analysts predict that NXP Semiconductors will post 6.56 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 14th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, June 13th. This represents a $1.00 annualized dividend and a yield of 1.02%. NXP Semiconductors’s payout ratio is currently 16.84%.

A number of hedge funds and other institutional investors have recently modified their holdings of NXPI. Norges Bank bought a new stake in NXP Semiconductors during the fourth quarter worth approximately $234,256,000. Boston Partners bought a new stake in NXP Semiconductors during the first quarter worth approximately $149,891,000. Bank of Montreal Can increased its stake in NXP Semiconductors by 308.2% during the first quarter. Bank of Montreal Can now owns 956,288 shares of the semiconductor provider’s stock worth $84,526,000 after acquiring an additional 721,996 shares during the last quarter. Pictet Asset Management Ltd. increased its stake in NXP Semiconductors by 14.8% during the first quarter. Pictet Asset Management Ltd. now owns 3,101,888 shares of the semiconductor provider’s stock worth $274,176,000 after acquiring an additional 400,506 shares during the last quarter. Finally, Pennsylvania Trust Co grew its stake in shares of NXP Semiconductors by 1,977.4% during the first quarter. Pennsylvania Trust Co now owns 328,643 shares of the semiconductor provider’s stock valued at $10,158,000 after buying an additional 312,823 shares during the last quarter. 76.07% of the stock is currently owned by institutional investors.

About NXP Semiconductors

NXP Semiconductors N.V., a semiconductor company, provides high performance mixed signal solutions for radio frequency (RF), analog, power management, interface, security, and digital processing products worldwide. The company offers products for audio and visual head-end unit applications, such as single-chip radio solutions, multi-standard radios, audio amplifiers and power analog products, and i.MX applications processors; in-vehicle networking products; two-way secure entry products; various sensors and microcontrollers; power management solutions; battery cell controllers; and solutions for radar, vision, vehicle-to-vehicle, and vehicle-to-infrastructure systems.

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