NXP Semiconductors (NASDAQ:NXPI) Stock Price Down 4% After Analyst Downgrade

NXP Semiconductors N.V. (NASDAQ:NXPI) shares dropped 4% on Monday after UBS Group downgraded the stock from a buy rating to a hold rating. UBS Group now has a $270.00 price target on the stock. NXP Semiconductors traded as low as $218.24 and last traded at $219.9410. 1,871,066 shares were traded during trading, a decline of 48% from the average session volume of 3,575,712 shares. The stock had previously closed at $229.16.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company decreased their price objective on shares of NXP Semiconductors from $290.00 to $280.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. JPMorgan Chase & Co. upped their target price on NXP Semiconductors from $250.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Citigroup reaffirmed a “neutral” rating on shares of NXP Semiconductors in a research report on Monday, July 13th. BNP Paribas Exane lifted their price target on NXP Semiconductors from $270.00 to $310.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price objective on shares of NXP Semiconductors in a research note on Monday, July 27th. Sixteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $305.43.

Insider Transactions at NXP Semiconductors

In related news, EVP Andrew Micallef sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $315.57, for a total transaction of $315,570.00. Following the sale, the executive vice president owned 8,942 shares of the company’s stock, valued at approximately $2,821,826.94. This represents a 10.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher L. Jensen sold 1,746 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $316.53, for a total transaction of $552,661.38. Following the completion of the transaction, the executive vice president directly owned 3,643 shares of the company’s stock, valued at approximately $1,153,118.79. The trade was a 32.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.05% of the company’s stock.

Institutional Trading of NXP Semiconductors

A number of large investors have recently modified their holdings of NXPI. Norges Bank bought a new position in NXP Semiconductors in the fourth quarter worth $613,029,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of NXP Semiconductors by 34,719.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,680,395 shares of the semiconductor provider’s stock valued at $581,807,000 after buying an additional 2,672,697 shares in the last quarter. Soroban Capital Partners LP bought a new stake in shares of NXP Semiconductors during the 1st quarter valued at $169,943,000. Invesco Ltd. grew its position in shares of NXP Semiconductors by 17.2% in the 4th quarter. Invesco Ltd. now owns 5,574,672 shares of the semiconductor provider’s stock worth $1,210,038,000 after buying an additional 818,985 shares during the period. Finally, Amundi grew its position in shares of NXP Semiconductors by 46.6% in the 4th quarter. Amundi now owns 2,203,488 shares of the semiconductor provider’s stock worth $478,270,000 after buying an additional 700,753 shares during the period. Institutional investors own 90.54% of the company’s stock.

NXP Semiconductors Stock Performance

The company has a market capitalization of $59.46 billion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 0.76 and a beta of 1.81. The company’s 50 day moving average is $286.74 and its 200-day moving average is $252.71. The company has a current ratio of 2.04, a quick ratio of 1.36 and a debt-to-equity ratio of 0.88.

NXP Semiconductors (NASDAQ:NXPI) last announced its quarterly earnings data on Wednesday, July 29th. The semiconductor provider reported $3.61 earnings per share for the quarter, topping analysts’ consensus estimates of $3.52 by $0.09. The business had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.47 billion. NXP Semiconductors had a net margin of 22.56% and a return on equity of 27.83%. The business’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.72 earnings per share. Equities analysts anticipate that NXP Semiconductors N.V. will post 13.73 EPS for the current fiscal year.

NXP Semiconductors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Wednesday, June 24th were paid a $1.014 dividend. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Wednesday, June 24th. NXP Semiconductors’s dividend payout ratio is currently 34.64%.

NXP Semiconductors Company Profile

NXP Semiconductors N.V. is a global semiconductor company headquartered in Eindhoven, the Netherlands, that designs and supplies mixed-signal and standard product solutions for a broad range of end markets. The company focuses on enabling secure connections and infrastructure for embedded applications, developing technologies used across automotive, industrial and Internet of Things (IoT), mobile, and communication infrastructure segments. NXP’s offerings target customers that require reliable, secure, and high-performance semiconductor components for connected devices and systems.

Product lines include microcontrollers and application processors, secure elements and authentication technologies, RF and high-power analog components, connectivity solutions, and vehicle networking and infotainment systems.