NXP Semiconductors (NASDAQ:NXPI) Shares Up 7.4% on Analyst Upgrade

NXP Semiconductors (NASDAQ:NXPI) shot up 7.4% on Wednesday after Truist Financial raised their price target on the stock from $245.00 to $258.00. Truist Financial currently has a buy rating on the stock. NXP Semiconductors traded as high as $245.84 and last traded at $245.79. 3,313,547 shares traded hands during trading, an increase of 23% from the average session volume of 2,704,604 shares. The stock had previously closed at $228.86.

A number of other brokerages have also weighed in on NXPI. Loop Capital began coverage on NXP Semiconductors in a research report on Monday, November 11th. They set a “buy” rating and a $300.00 target price for the company. StockNews.com downgraded NXP Semiconductors from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. The Goldman Sachs Group upgraded NXP Semiconductors from a “neutral” rating to a “buy” rating and cut their price target for the company from $260.00 to $257.00 in a report on Friday, January 10th. Evercore ISI cut their price target on NXP Semiconductors from $370.00 to $315.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, Stifel Nicolaus cut their price target on NXP Semiconductors from $231.00 to $210.00 and set a “hold” rating on the stock in a report on Wednesday, February 5th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, NXP Semiconductors presently has a consensus rating of “Moderate Buy” and a consensus target price of $264.75.

Institutional Trading of NXP Semiconductors

Large investors have recently added to or reduced their stakes in the company. ORG Wealth Partners LLC lifted its holdings in shares of NXP Semiconductors by 915.4% in the 4th quarter. ORG Wealth Partners LLC now owns 132 shares of the semiconductor provider’s stock valued at $27,000 after buying an additional 119 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of NXP Semiconductors by 169.2% in the 4th quarter. Sound Income Strategies LLC now owns 140 shares of the semiconductor provider’s stock valued at $29,000 after buying an additional 88 shares during the period. Smithfield Trust Co acquired a new position in shares of NXP Semiconductors in the 4th quarter valued at about $32,000. Runnymede Capital Advisors Inc. acquired a new position in shares of NXP Semiconductors in the 4th quarter valued at about $32,000. Finally, FSA Wealth Management LLC acquired a new position in shares of NXP Semiconductors in the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 90.54% of the company’s stock.

NXP Semiconductors Trading Up 7.5 %

The firm has a market cap of $62.53 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 2.75 and a beta of 1.46. The company has a fifty day moving average price of $213.39 and a 200-day moving average price of $227.73. The company has a current ratio of 2.36, a quick ratio of 1.60 and a debt-to-equity ratio of 1.09.

NXP Semiconductors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Thursday, December 5th were issued a $1.014 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $4.06 annualized dividend and a dividend yield of 1.65%. NXP Semiconductors’s dividend payout ratio (DPR) is presently 41.73%.

NXP Semiconductors Company Profile

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.