NXP Semiconductors (NASDAQ:NXPI) Stock Price Up 7.4% Following Analyst Upgrade

NXP Semiconductors (NASDAQ:NXPI)’s stock price rose 7.4% during trading 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. Approximately 3,313,547 shares traded hands during mid-day trading, an increase of 23% from the average daily volume of 2,704,604 shares. The stock had previously closed at $228.86.

A number of other equities analysts have also commented on the stock. Susquehanna decreased their price target on shares of NXP Semiconductors from $235.00 to $225.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $250.00 price objective on shares of NXP Semiconductors in a research note on Tuesday, February 4th. Needham & Company LLC cut their price objective on shares of NXP Semiconductors from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. UBS Group dropped their price target on shares of NXP Semiconductors from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company initiated coverage on shares of NXP Semiconductors in a research report on Friday, November 22nd. They set an “overweight” rating and a $250.00 price target for the company. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, NXP Semiconductors has a consensus rating of “Moderate Buy” and an average price target of $264.75.

Institutional Investors Weigh In On NXP Semiconductors

Institutional investors and hedge funds have recently modified their holdings of the stock. Eastern Bank bought a new position in shares of NXP Semiconductors in the 3rd quarter worth about $419,000. Stanley Laman Group Ltd. increased its stake in shares of NXP Semiconductors by 2.6% in the 3rd quarter. Stanley Laman Group Ltd. now owns 20,002 shares of the semiconductor provider’s stock worth $4,801,000 after acquiring an additional 512 shares in the last quarter. Global X Japan Co. Ltd. increased its stake in shares of NXP Semiconductors by 0.6% in the 3rd quarter. Global X Japan Co. Ltd. now owns 19,553 shares of the semiconductor provider’s stock worth $4,693,000 after acquiring an additional 108 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in shares of NXP Semiconductors by 38.6% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,480 shares of the semiconductor provider’s stock worth $356,000 after acquiring an additional 412 shares in the last quarter. Finally, Sterling Investment Counsel LLC increased its stake in shares of NXP Semiconductors by 5.7% in the 3rd quarter. Sterling Investment Counsel LLC now owns 850 shares of the semiconductor provider’s stock worth $204,000 after acquiring an additional 46 shares in the last quarter. 90.54% of the stock is owned by hedge funds and other institutional investors.

NXP Semiconductors Stock Performance

The company has a current ratio of 2.36, a quick ratio of 1.60 and a debt-to-equity ratio of 1.09. The company’s 50 day moving average is $213.90 and its 200-day moving average is $227.86. The company has a market capitalization of $62.42 billion, a P/E ratio of 25.24, a price-to-earnings-growth ratio of 2.75 and a beta of 1.46.

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.