NXP Semiconductors (NASDAQ:NXPI) Upgraded to Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of NXP Semiconductors (NASDAQ:NXPI) from a neutral rating to a buy rating in a research note published on Friday morning, Marketbeat reports. The Goldman Sachs Group currently has $257.00 target price on the semiconductor provider’s stock, down from their prior target price of $260.00.

Several other brokerages also recently commented on NXPI. Evercore ISI lowered their price objective on shares of NXP Semiconductors from $370.00 to $315.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Mizuho set a $290.00 price target on NXP Semiconductors in a research report on Friday, October 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $270.00 price objective on shares of NXP Semiconductors in a research report on Monday, November 4th. Loop Capital assumed coverage on NXP Semiconductors in a report on Monday, November 11th. They set a “buy” rating and a $300.00 target price for the company. Finally, Citic Securities began coverage on shares of NXP Semiconductors in a report on Friday, October 11th. They issued a $288.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, NXP Semiconductors has a consensus rating of “Moderate Buy” and an average target price of $273.19.

NXP Semiconductors Trading Down 1.4 %

Shares of NXPI stock opened at $206.75 on Friday. The business has a 50-day moving average of $219.62 and a 200 day moving average of $238.34. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.35 and a quick ratio of 1.60. NXP Semiconductors has a 1-year low of $201.58 and a 1-year high of $296.08. The stock has a market capitalization of $52.55 billion, a PE ratio of 19.73, a P/E/G ratio of 4.37 and a beta of 1.47.

NXP Semiconductors (NASDAQ:NXPI) last released its quarterly earnings data on Monday, November 4th. The semiconductor provider reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.02. NXP Semiconductors had a return on equity of 33.57% and a net margin of 20.98%. The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the prior year, the firm posted $3.31 earnings per share. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that NXP Semiconductors will post 11.33 earnings per share for the current year.

NXP Semiconductors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Thursday, December 5th were issued a $1.014 dividend. This represents a $4.06 annualized dividend and a yield of 1.96%. The ex-dividend date was Thursday, December 5th. NXP Semiconductors’s dividend payout ratio (DPR) is 38.65%.

Hedge Funds Weigh In On NXP Semiconductors

Several institutional investors and hedge funds have recently modified their holdings of the stock. GDS Wealth Management grew its position in NXP Semiconductors by 7.7% during the 3rd quarter. GDS Wealth Management now owns 55,740 shares of the semiconductor provider’s stock valued at $13,378,000 after purchasing an additional 3,985 shares during the last quarter. HITE Hedge Asset Management LLC bought a new position in shares of NXP Semiconductors in the third quarter worth approximately $13,445,000. Banque Cantonale Vaudoise grew its holdings in shares of NXP Semiconductors by 60.2% during the third quarter. Banque Cantonale Vaudoise now owns 25,850 shares of the semiconductor provider’s stock valued at $6,204,000 after buying an additional 9,710 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of NXP Semiconductors by 21.1% during the second quarter. Mackenzie Financial Corp now owns 154,293 shares of the semiconductor provider’s stock valued at $41,519,000 after acquiring an additional 26,851 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in NXP Semiconductors by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 303,895 shares of the semiconductor provider’s stock worth $72,938,000 after acquiring an additional 5,722 shares during the last quarter. 90.54% of the stock is currently owned by 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.