Oppenheimer Cuts NXP Semiconductors (NASDAQ:NXPI) Price Target to $300.00

NXP Semiconductors (NASDAQ:NXPI) had its price objective lowered by equities research analysts at Oppenheimer from $330.00 to $300.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the semiconductor provider’s stock. Oppenheimer’s price target indicates a potential upside of 33.54% from the company’s previous close.

A number of other analysts have also recently weighed in on the company. UBS Group upgraded NXP Semiconductors from a “neutral” rating to a “buy” rating and increased their price target for the stock from $275.00 to $285.00 in a research report on Monday, October 7th. Needham & Company LLC raised their target price on NXP Semiconductors from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Citic Securities started coverage on shares of NXP Semiconductors in a research report on Friday, October 11th. They set a $288.00 price target for the company. StockNews.com downgraded shares of NXP Semiconductors from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, Barclays decreased their target price on shares of NXP Semiconductors from $330.00 to $280.00 and set an “overweight” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $280.60.

NXP Semiconductors Stock Down 5.2 %

Shares of NXP Semiconductors stock opened at $224.65 on Wednesday. NXP Semiconductors has a fifty-two week low of $178.19 and a fifty-two week high of $296.08. The company has a quick ratio of 1.52, a current ratio of 2.21 and a debt-to-equity ratio of 1.04. The firm has a market cap of $57.23 billion, a P/E ratio of 21.00, a P/E/G ratio of 2.59 and a beta of 1.49. The business has a 50-day moving average price of $236.74 and a 200 day moving average price of $253.34.

NXP Semiconductors (NASDAQ:NXPI) last posted its quarterly earnings results on Monday, November 4th. The semiconductor provider reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.02. NXP Semiconductors had a net margin of 21.21% and a return on equity of 35.65%. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same period last year, the firm posted $3.31 EPS. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, sell-side analysts forecast that NXP Semiconductors will post 11.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Jennifer Wuamett sold 3,500 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $232.35, for a total transaction of $813,225.00. Following the completion of the sale, the executive vice president now directly owns 30,269 shares of the company’s stock, valued at $7,033,002.15. This represents a 0.00 % 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. 0.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NXP Semiconductors

Several institutional investors and hedge funds have recently added to or reduced their stakes in NXPI. Family Firm Inc. purchased a new position in shares of NXP Semiconductors during the second quarter valued at $27,000. Addison Advisors LLC lifted its position in shares of NXP Semiconductors by 224.2% in the second quarter. Addison Advisors LLC now owns 107 shares of the semiconductor provider’s stock worth $29,000 after purchasing an additional 74 shares in the last quarter. Valley National Advisers Inc. boosted its holdings in shares of NXP Semiconductors by 71.2% during the second quarter. Valley National Advisers Inc. now owns 125 shares of the semiconductor provider’s stock worth $33,000 after purchasing an additional 52 shares during the period. Fortitude Family Office LLC grew its position in NXP Semiconductors by 615.0% during the second quarter. Fortitude Family Office LLC now owns 143 shares of the semiconductor provider’s stock valued at $38,000 after purchasing an additional 123 shares in the last quarter. Finally, Beacon Capital Management LLC increased its stake in NXP Semiconductors by 36.4% in the 1st quarter. Beacon Capital Management LLC now owns 150 shares of the semiconductor provider’s stock valued at $37,000 after buying an additional 40 shares during the period. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

About NXP Semiconductors

NXP Semiconductors N.V. offers various semiconductor products. The company's product portfolio includes microcontrollers; application processors, including i.MX application processors, and i.MX 8 and 9 family of applications processors; communication processors; wireless connectivity solutions, such as near field communications, ultra-wideband, Bluetooth low-energy, Zigbee, and Wi-Fi and Wi-Fi/Bluetooth integrated SoCs; analog and interface devices; radio frequency power amplifiers; and security controllers, as well as semiconductor-based environmental and inertial sensors, including pressure, inertial, magnetic, and gyroscopic sensors.