NXP Semiconductors (NASDAQ:NXPI) Downgraded by Zacks Investment Research for Sale
NXP Semiconductors (NASDAQ: NXPI – Get Assessment) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note released Thursday, Zacks.com reports. They currently have a price target of $188.00 on the semiconductor supplier’s stock. Zacks Investment Research’s price target suggests a potential upside of 5.15% from the company’s current price.
According to Zacks, “NXP Semiconductors is driven by a high demand environment in end markets. It continues to benefit from a strong position in secular growth markets, including automotive, industrial and IoT, and communications infrastructure. Its safety products for advanced driver assistance systems have gained momentum. Additionally, increasing deployments of 5G networks are driving the growth of communications business. Additionally, the growing adoption of NXP’s offerings, product design gains and infrastructure strength remain positive. Solid RF power momentum for base stations remains a tailwind. However, uncertainties related to the ongoing coronavirus pandemic remain headwinds. In addition, the softness of the mobile market is concerning. In addition, increased expenses and a leveraged balance sheet are risks. The stock has underperformed its industry year-to-date.
NXPI has been the subject of several other research reports. Piper Sandler cut shares of NXP Semiconductors from an “overweight” rating to a “neutral” rating and lowered her target price for the company from $235.00 to $210.00 in a Thursday, Jan. 20, report. Citigroup downgraded shares of NXP Semiconductors from a “buy” rating to a “neutral” rating and lowered its price target for the stock from $240.00 to $190.00 in a research report on Tuesday. Morgan Stanley raised its price target on NXP Semiconductors shares from $256.00 to $262.00 and gave the company an “equal weight” rating in a Wednesday, Feb. 2 report. KeyCorp raised its price target on NXP Semiconductors stock from $255.00 to $260.00 and gave the company an “overweight” rating in a Wednesday, Feb. 2 report. Finally, Bank of America raised its price target on NXP Semiconductors stock from $255.00 to $270.00 and gave the company a “buy” rating in a Monday, Jan. 10 research note. Two equity research analysts gave the stock a sell rating, eight issued a hold rating, eleven gave the company a buy rating and one gave the company a high buy rating. Based on MarketBeat data, NXP Semiconductors has an average rating of “Buy” and an average target price of $232.09.
Shares of NXPI opened at $178.79 on Thursday. The company’s 50-day moving average is $182.78 and its two-hundred-day moving average is $202.23. The company has a market capitalization of $46.94 billion, a PE ratio of 26.22, a growth price-earnings ratio of 0.67 and a beta of 1.39. NXP Semiconductors has a 12-month low of $164.75 and a 12-month high of $239.91. The company has a debt ratio of 1.56, a current ratio of 2.13 and a quick ratio of 1.65.
NXP Semiconductors (NASDAQ:NXPI – Get Rating) last announced its results on Monday, January 31. The semiconductor supplier reported earnings per share of $2.79 for the quarter, beating the consensus estimate of $2.67 by $0.12. NXP Semiconductors achieved a net margin of 16.91% and a return on equity of 34.33%. The company posted revenue of $3.04 billion for the quarter, versus a consensus estimate of $3 billion. During the same period of the previous year, the company achieved EPS of $2.43. Sell-side analysts expect NXP Semiconductors to post EPS of 11.53 for the current year.
A number of hedge funds and other institutional investors have recently changed their holdings in NXPI. Marco Investment Management LLC increased its position in NXP Semiconductors shares by 7.3% during the third quarter. Marco Investment Management LLC now owns 58,665 shares of the semiconductor supplier worth $11,491,000 after buying an additional 4,010 shares in the last quarter. Telos Capital Management Inc. increased its holdings in NXP Semiconductors by 14.0% in the fourth quarter. Telos Capital Management Inc. now owns 16,450 shares of the semiconductor supplier worth $3,747,000 after acquiring 2,025 additional shares last quarter. Yousif Capital Management LLC bought a new position in NXP Semiconductors in the fourth quarter for a value of approximately $8,895,000. Russell Investments Group Ltd. increased its holdings in NXP Semiconductors by 3.4% in the third quarter. Russell Investments Group Ltd. now owns 53,700 shares of the semiconductor supplier worth $10,524,000 after acquiring 1,767 additional shares last quarter. Finally, Profund Advisors LLC increased its holdings in NXP Semiconductors by 4.8% in the third quarter. Profund Advisors LLC now owns 37,615 shares of the semiconductor supplier worth $7,368,000 after acquiring 1,723 additional shares last quarter. 90.01% of the shares are currently held by hedge funds and other institutional investors.
About NXP Semiconductors (Get an assessment)
NXP Semiconductors NV offers various semiconductor products. The company’s product portfolio includes microcontrollers; application processors, including i.MX application processors and i.MX 8 and 9 families of application processors; communication processors; wireless connectivity solutions, such as near-field communications, ultra-wideband, low-energy Bluetooth, Zigbee, and integrated Wi-Fi and Wi-Fi/Bluetooth SoCs; analog and interface devices; radio frequency power amplifiers; and safety controllers, as well as semiconductor-based environmental and inertial sensors, including pressure, inertial, magnetic, and gyroscopic sensors.
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