NXP Semiconductors (NXPI) Shares Gap Up Following Analyst Upgrade

NXP Semiconductors NV (NASDAQ:NXPI) gapped up before the market opened on Friday after BMO Capital Markets raised their price target on the stock from $70.00 to $75.00. The stock had previously closed at $87.26, but opened at $84.09. BMO Capital Markets currently has a market perform rating on the stock. NXP Semiconductors shares last traded at $82.78, with a volume of 3538465 shares trading hands.

Several other equities research analysts also recently commented on the company. Bank of America raised NXP Semiconductors from a “neutral” rating to a “buy” rating and upped their target price for the company from $110.00 to $120.00 in a report on Monday, September 17th. Stifel Nicolaus downgraded NXP Semiconductors from a “hold” rating to a “sell” rating and reduced their target price for the company from $99.00 to $84.00 in a report on Wednesday, September 12th. Mizuho reaffirmed a “buy” rating and set a $115.00 target price on shares of NXP Semiconductors in a report on Wednesday, September 12th. Cowen upped their price target on NXP Semiconductors from $111.00 to $114.00 and gave the company an “outperform” rating in a research report on Thursday, September 13th. Finally, Goldman Sachs Group raised NXP Semiconductors from a “neutral” rating to a “buy” rating in a research report on Thursday, October 18th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. NXP Semiconductors has a consensus rating of “Hold” and an average target price of $103.38.

Large investors have recently bought and sold shares of the stock. Tower Bridge Advisors acquired a new position in NXP Semiconductors in the 3rd quarter worth about $1,778,000. Canyon Capital Advisors LLC increased its position in NXP Semiconductors by 144.9% in the 2nd quarter. Canyon Capital Advisors LLC now owns 784,630 shares of the semiconductor provider’s stock worth $85,737,000 after purchasing an additional 464,290 shares during the last quarter. Sensato Investors LLC acquired a new position in NXP Semiconductors in the 2nd quarter worth about $2,011,000. Cannell Peter B & Co. Inc. acquired a new position in NXP Semiconductors in the 2nd quarter worth about $382,000. Finally, Princeton Capital Management LLC acquired a new position in NXP Semiconductors in the 2nd quarter worth about $127,000. 83.37% of the stock is currently owned by hedge funds and other institutional investors.

The company has a quick ratio of 2.26, a current ratio of 2.98 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $25.94 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 0.63 and a beta of 0.85.

The company also recently announced a quarterly dividend, which was paid on Friday, October 5th. Shareholders of record on Tuesday, September 25th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.19%. The ex-dividend date was Monday, September 24th. NXP Semiconductors’s payout ratio is currently 11.84%.

About NXP Semiconductors (NASDAQ:NXPI)

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; and solutions for radar, vision, vehicle-to-vehicle, and vehicle-to-infrastructure systems.

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