NXP Semiconductors (NASDAQ:NXPI) Raised to “Buy” at Citigroup

NXP Semiconductors (NASDAQ:NXPI) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Thursday, Marketbeat.com reports. The brokerage currently has a $290.00 price target on the semiconductor provider’s stock, up from their previous price target of $210.00. Citigroup’s price objective suggests a potential upside of 22.61% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on NXPI. The Goldman Sachs Group raised NXP Semiconductors from a “neutral” rating to a “buy” rating and reduced their target price for the company from $260.00 to $257.00 in a report on Friday, January 10th. Oppenheimer reduced their price target on NXP Semiconductors from $330.00 to $300.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Susquehanna reduced their target price 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. Evercore ISI decreased their price target on shares of NXP Semiconductors from $370.00 to $315.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Finally, Truist Financial lifted their price target on shares of NXP Semiconductors from $245.00 to $258.00 and gave the stock a “buy” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, NXP Semiconductors has a consensus rating of “Moderate Buy” and an average price target of $267.00.

NXP Semiconductors Stock Performance

Shares of NASDAQ:NXPI opened at $236.52 on Thursday. The company’s 50 day moving average price is $214.86 and its two-hundred day moving average price is $227.99. NXP Semiconductors has a 12-month low of $198.21 and a 12-month high of $296.08. The firm has a market cap of $60.11 billion, a PE ratio of 24.31, a PEG ratio of 3.01 and a beta of 1.46. The company has a quick ratio of 1.60, a current ratio of 2.36 and a debt-to-equity ratio of 1.09.

Institutional Investors Weigh In On NXP Semiconductors

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. ORG Wealth Partners LLC increased its holdings in NXP Semiconductors by 915.4% during the fourth quarter. ORG Wealth Partners LLC now owns 132 shares of the semiconductor provider’s stock worth $27,000 after buying an additional 119 shares during the last quarter. Sound Income Strategies LLC increased its holdings in NXP Semiconductors by 169.2% during the 4th quarter. Sound Income Strategies LLC now owns 140 shares of the semiconductor provider’s stock valued at $29,000 after purchasing an additional 88 shares during the period. Smithfield Trust Co purchased a new stake in NXP Semiconductors in the 4th quarter worth approximately $32,000. Runnymede Capital Advisors Inc. bought a new position in shares of NXP Semiconductors in the fourth quarter worth about $32,000. Finally, FSA Wealth Management LLC bought a new position in NXP Semiconductors during the 3rd quarter worth about $33,000. 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.