Needham & Company LLC Cuts NXP Semiconductors (NASDAQ:NXPI) Price Target to $230.00

NXP Semiconductors (NASDAQ:NXPI) had its target price lowered by Needham & Company LLC from $250.00 to $230.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the semiconductor provider’s stock.

Several other equities analysts have also recently weighed in on the company. Susquehanna decreased their price objective on NXP Semiconductors from $250.00 to $235.00 and set a “neutral” rating for the company in a report on Wednesday, January 22nd. Morgan Stanley cut their price objective on shares of NXP Semiconductors from $235.00 to $231.00 and set an “equal weight” rating for the company in a research report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 price target on shares of NXP Semiconductors in a research report on Tuesday. StockNews.com downgraded shares of NXP Semiconductors from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Finally, Evercore ISI decreased their price objective on shares of NXP Semiconductors from $370.00 to $315.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $263.15.

NXP Semiconductors Price Performance

NXPI stock opened at $212.93 on Wednesday. The stock has a market cap of $54.12 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 3.14 and a beta of 1.46. The stock has a 50-day moving average price of $214.22 and a two-hundred day moving average price of $230.15. The company has a current ratio of 2.35, a quick ratio of 1.60 and a debt-to-equity ratio of 0.99. NXP Semiconductors has a 1 year low of $198.21 and a 1 year high of $296.08.

NXP Semiconductors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Thursday, December 5th were paid 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 1.90%. NXP Semiconductors’s dividend payout ratio is 38.74%.

Hedge Funds Weigh In On NXP Semiconductors

Hedge funds and other institutional investors have recently bought and sold shares of the company. GDS Wealth Management raised its holdings in shares of NXP Semiconductors by 7.7% during the third 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 period. HITE Hedge Asset Management LLC acquired a new stake in shares of NXP Semiconductors in the 3rd quarter worth about $13,445,000. Merit Financial Group LLC bought a new stake in NXP Semiconductors in the 4th quarter worth about $360,000. Banque Cantonale Vaudoise grew its position in NXP Semiconductors by 60.2% in the 3rd quarter. Banque Cantonale Vaudoise now owns 25,850 shares of the semiconductor provider’s stock worth $6,204,000 after purchasing an additional 9,710 shares in the last quarter. Finally, Austin Private Wealth LLC grew its position in NXP Semiconductors by 140.6% in the 4th quarter. Austin Private Wealth LLC now owns 3,198 shares of the semiconductor provider’s stock worth $665,000 after purchasing an additional 1,869 shares in the last quarter. Institutional investors and hedge funds own 90.54% of the company’s stock.

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.