NXPI FY2024 EPS Forecast Reduced by Cantor Fitzgerald

NXP Semiconductors (NASDAQ:NXPI) – Equities researchers at Cantor Fitzgerald lowered their FY2024 earnings estimates for shares of NXP Semiconductors in a research note issued to investors on Wednesday, November 6th. Cantor Fitzgerald analyst C. Muse now anticipates that the semiconductor provider will post earnings per share of $11.30 for the year, down from their previous forecast of $12.02. Cantor Fitzgerald currently has a “Overweight” rating and a $270.00 price objective on the stock. The consensus estimate for NXP Semiconductors’ current full-year earnings is $11.43 per share.

Several other brokerages have also issued reports on NXPI. Oppenheimer decreased their price target on shares of NXP Semiconductors from $330.00 to $300.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Citigroup boosted their target price on NXP Semiconductors from $150.00 to $220.00 and gave the company a “sell” rating in a research note on Monday, July 15th. UBS Group cut their price target on NXP Semiconductors from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. TD Cowen lowered their price objective on NXP Semiconductors from $300.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Citic Securities began coverage on shares of NXP Semiconductors in a research report on Friday, October 11th. They set a $288.00 target price for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $276.76.

NXP Semiconductors Stock Performance

NASDAQ NXPI opened at $227.04 on Monday. The company has a market capitalization of $57.70 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 4.30 and a beta of 1.49. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.52 and a current ratio of 2.35. NXP Semiconductors has a 52-week low of $181.96 and a 52-week high of $296.08. The company has a 50-day simple moving average of $235.72 and a 200 day simple moving average of $253.50.

NXP Semiconductors (NASDAQ:NXPI) last issued its quarterly earnings results on Monday, November 4th. The semiconductor provider reported $3.45 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.02. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.25 billion. NXP Semiconductors had a return on equity of 33.57% and a net margin of 20.98%. NXP Semiconductors’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the company posted $3.31 earnings per share.

NXP Semiconductors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Thursday, September 12th were given a $1.014 dividend. This represents a $4.06 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Thursday, September 12th. NXP Semiconductors’s dividend payout ratio (DPR) is 38.74%.

Insider Activity at NXP Semiconductors

In other news, EVP Jennifer Wuamett sold 3,500 shares of NXP Semiconductors stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $232.35, for a total transaction of $813,225.00. Following the completion of the sale, the executive vice president now directly owns 30,269 shares of the company’s stock, valued at approximately $7,033,002.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NXP Semiconductors

Large investors have recently modified their holdings of the company. Quantbot Technologies LP purchased a new position in shares of NXP Semiconductors during the first quarter worth approximately $843,000. Empowered Funds LLC lifted its stake in NXP Semiconductors by 80.1% in the first quarter. Empowered Funds LLC now owns 7,818 shares of the semiconductor provider’s stock worth $1,937,000 after purchasing an additional 3,478 shares during the last quarter. Atomi Financial Group Inc. purchased a new stake in NXP Semiconductors during the first quarter valued at about $237,000. Meeder Advisory Services Inc. grew its stake in shares of NXP Semiconductors by 19.0% during the first quarter. Meeder Advisory Services Inc. now owns 3,675 shares of the semiconductor provider’s stock valued at $911,000 after buying an additional 586 shares during the last quarter. Finally, Inspire Advisors LLC increased its holdings in shares of NXP Semiconductors by 2.8% in the first quarter. Inspire Advisors LLC now owns 2,645 shares of the semiconductor provider’s stock worth $655,000 after buying an additional 71 shares during the period. 90.54% of the stock is owned by hedge funds and other institutional investors.

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.