NXP Semiconductors (NASDAQ:NXPI) Issues Q2 2024 Earnings Guidance

NXP Semiconductors (NASDAQ:NXPI) updated its second quarter 2024 earnings guidance on Monday. The company provided EPS guidance of 3.000-3.410 for the period, compared to the consensus EPS estimate of 3.110. The company issued revenue guidance of $3.0 billion-$3.2 billion, compared to the consensus revenue estimate of $3.1 billion. NXP Semiconductors also updated its Q2 guidance to $3.00-3.41 EPS.

NXP Semiconductors Trading Up 1.8 %

NXPI stock traded up $4.43 during trading on Monday, hitting $247.13. 2,954,715 shares of the company traded hands, compared to its average volume of 2,357,178. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.39 and a current ratio of 1.91. NXP Semiconductors has a 1 year low of $161.23 and a 1 year high of $264.26. The company has a 50-day moving average of $241.20 and a 200-day moving average of $219.97. The firm has a market capitalization of $63.29 billion, a PE ratio of 22.66, a P/E/G ratio of 0.92 and a beta of 1.59.

NXP Semiconductors (NASDAQ:NXPI) last announced its quarterly earnings results on Monday, February 5th. The semiconductor provider reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.04. NXP Semiconductors had a net margin of 21.07% and a return on equity of 38.94%. The company had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Analysts predict that NXP Semiconductors will post 12.21 earnings per share for the current fiscal year.

NXP Semiconductors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Thursday, March 21st were given a dividend of $1.014 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $4.06 annualized dividend and a yield of 1.64%. NXP Semiconductors’s dividend payout ratio (DPR) is presently 37.91%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NXPI. Barclays upgraded shares of NXP Semiconductors from an equal weight rating to an overweight rating and lifted their price objective for the company from $200.00 to $260.00 in a report on Tuesday, January 16th. Morgan Stanley boosted their price objective on NXP Semiconductors from $221.00 to $224.00 and gave the company an equal weight rating in a report on Wednesday, February 7th. Stifel Nicolaus boosted their target price on shares of NXP Semiconductors from $190.00 to $210.00 and gave the stock a hold rating in a research note on Tuesday, January 2nd. Susquehanna increased their price target on shares of NXP Semiconductors from $200.00 to $225.00 and gave the stock a neutral rating in a research note on Wednesday, February 7th. Finally, Wolfe Research upgraded shares of NXP Semiconductors from a peer perform rating to an outperform rating and set a $255.00 target price on the stock in a research report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $242.29.

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.