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

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) was up 7.4% on Wednesday after Mizuho raised their price target on the stock from $240.00 to $255.00. Mizuho currently has an outperform 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.

NXPI has been the subject of several other reports. Evercore ISI reduced their price target on NXP Semiconductors from $370.00 to $315.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. UBS Group reduced their price target on NXP Semiconductors from $285.00 to $275.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group upgraded NXP Semiconductors from a "neutral" rating to a "buy" rating and reduced their price target for the company from $260.00 to $257.00 in a research report on Friday, January 10th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $250.00 price target on shares of NXP Semiconductors in a research report on Tuesday, February 4th. Finally, Truist Financial lifted their price target on NXP Semiconductors from $245.00 to $258.00 and gave the company a "buy" rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, NXP Semiconductors presently has an average rating of "Moderate Buy" and an average target price of $267.00.

Institutional Investors Weigh In On NXP Semiconductors

Several hedge funds have recently added to or reduced their stakes in NXPI. ORG Wealth Partners LLC lifted its stake 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 purchasing an additional 119 shares during the last quarter. Sound Income Strategies LLC lifted its stake in shares of NXP Semiconductors by 169.2% in the 4th quarter. Sound Income Strategies LLC now owns 140 shares of the semiconductor provider's stock valued at $29,000 after acquiring an additional 88 shares during the last quarter. Smithfield Trust Co bought a new stake in shares of NXP Semiconductors in the 4th quarter valued at about $32,000. Runnymede Capital Advisors Inc. bought a new stake in shares of NXP Semiconductors in the 4th quarter valued at about $32,000. Finally, FSA Wealth Management LLC bought a new stake in shares of NXP Semiconductors in the 3rd quarter valued at about $33,000. Institutional investors own 90.54% of the company's stock.

NXP Semiconductors Stock Performance

The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.60 and a current ratio of 2.36. The business has a 50 day moving average price of $214.86 and a two-hundred day moving average price of $227.99. The company has a market cap of $60.11 billion, a P/E ratio of 24.31, a price-to-earnings-growth ratio of 3.01 and a beta of 1.46.

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.