NXP Semiconductors (NASDAQ:NXPI) Given New $240.00 Price Target at JPMorgan Chase & Co.

NXP Semiconductors (NASDAQ:NXPI) had its price target cut by JPMorgan Chase & Co. from $260.00 to $240.00 in a report released on Wednesday,Benzinga reports. They currently have a neutral rating on the semiconductor provider’s stock.

Several other research analysts also recently commented on NXPI. Citic Securities started coverage on shares of NXP Semiconductors in a report on Friday, October 11th. They issued a $288.00 price target for the company. Evercore ISI cut their price target on shares of NXP Semiconductors from $370.00 to $315.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Stifel Nicolaus cut their price target on shares of NXP Semiconductors from $275.00 to $260.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Morgan Stanley cut their price target on shares of NXP Semiconductors from $235.00 to $231.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Needham & Company LLC cut their price target on shares of NXP Semiconductors from $250.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NXP Semiconductors currently has an average rating of “Moderate Buy” and an average price target of $263.15.

NXP Semiconductors Stock Down 1.8 %

Shares of NASDAQ:NXPI opened at $212.93 on Wednesday. The firm has a fifty day moving average price of $214.22 and a two-hundred day moving average price of $230.15. 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 one year low of $198.21 and a one year high of $296.08. The company has a market cap of $54.12 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 3.14 and a beta of 1.46.

NXP Semiconductors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Thursday, December 5th were given a $1.014 dividend. This represents a $4.06 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Thursday, December 5th. NXP Semiconductors’s payout ratio is presently 38.74%.

Hedge Funds Weigh In On NXP Semiconductors

A number of hedge funds have recently modified their holdings of the company. State Street Corp boosted its stake in shares of NXP Semiconductors by 1.3% during the 3rd quarter. State Street Corp now owns 10,675,415 shares of the semiconductor provider’s stock valued at $2,572,694,000 after purchasing an additional 139,641 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of NXP Semiconductors by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 5,145,932 shares of the semiconductor provider’s stock valued at $1,231,533,000 after purchasing an additional 57,762 shares in the last quarter. Franklin Resources Inc. boosted its stake in NXP Semiconductors by 2.1% during the third quarter. Franklin Resources Inc. now owns 4,459,689 shares of the semiconductor provider’s stock worth $1,063,322,000 after acquiring an additional 93,129 shares in the last quarter. Van ECK Associates Corp boosted its stake in NXP Semiconductors by 27.1% during the fourth quarter. Van ECK Associates Corp now owns 3,865,446 shares of the semiconductor provider’s stock worth $803,432,000 after acquiring an additional 824,317 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in NXP Semiconductors by 0.7% during the third quarter. Janus Henderson Group PLC now owns 2,730,933 shares of the semiconductor provider’s stock worth $655,453,000 after acquiring an additional 20,145 shares in the last quarter. Hedge funds and other institutional investors own 90.54% of the company’s stock.

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.