SunTrust Banks Raises NXP Semiconductors (NXPI) Price Target to $99.00

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NXP Semiconductors (NASDAQ:NXPI) had its price target lifted by SunTrust Banks to $99.00 in a research report released on Friday, The Fly reports. The brokerage currently has a buy rating on the semiconductor provider’s stock. The analysts noted that the move was a valuation call.

Several other brokerages have also recently commented on NXPI. BidaskClub cut shares of NXP Semiconductors from a sell rating to a strong sell rating in a report on Saturday, July 7th. Zacks Investment Research upgraded shares of NXP Semiconductors from a sell rating to a hold rating in a report on Tuesday, July 10th. Stifel Nicolaus reduced their target price on shares of NXP Semiconductors from $102.00 to $99.00 and set a hold rating for the company in a report on Friday, July 27th. JPMorgan Chase & Co. reduced their target price on shares of NXP Semiconductors from $127.50 to $110.00 and set a neutral rating for the company in a report on Friday, July 27th. Finally, Barclays assumed coverage on shares of NXP Semiconductors in a report on Thursday, August 2nd. They set an equal weight rating for the company. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $103.38.

Shares of NXPI stock traded down $1.95 during trading hours on Friday, hitting $82.13. 175,157 shares of the company were exchanged, compared to its average volume of 6,727,106. The company has a quick ratio of 0.87, a current ratio of 1.22 and a debt-to-equity ratio of 0.50. NXP Semiconductors has a 52 week low of $69.72 and a 52 week high of $125.93. The company has a market capitalization of $28.89 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 0.70 and a beta of 0.90.

Hedge funds have recently made changes to their positions in the business. Third Point LLC acquired a new stake in shares of NXP Semiconductors during the 2nd quarter worth about $1,174,652,000. Thornburg Investment Management Inc. acquired a new stake in shares of NXP Semiconductors during the 3rd quarter worth about $104,430,000. Confluence Investment Management LLC lifted its stake in shares of NXP Semiconductors by 300.2% during the 3rd quarter. Confluence Investment Management LLC now owns 1,514,994 shares of the semiconductor provider’s stock worth $129,532,000 after buying an additional 1,136,479 shares during the last quarter. ARGA Investment Management LP acquired a new stake in shares of NXP Semiconductors during the 3rd quarter worth about $97,160,000. Finally, Numen Capital LLP lifted its stake in shares of NXP Semiconductors by 5,127.8% during the 2nd quarter. Numen Capital LLP now owns 941,000 shares of the semiconductor provider’s stock worth $102,586,000 after buying an additional 923,000 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

About NXP Semiconductors

NXP Semiconductors N.V., a semiconductor company, provides high performance mixed signal solutions for radio frequency (RF), analog, power management, interface, security, and digital processing products worldwide. The company offers products for audio and visual head-end unit applications, such as single-chip radio solutions, multi-standard radios, audio amplifiers and power analog products, and i.MX applications processors; in-vehicle networking products; two-way secure entry products; various sensors and microcontrollers; power management solutions; and solutions for radar, vision, vehicle-to-vehicle, and vehicle-to-infrastructure systems.

Further Reading: Fundamental Analysis

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