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

NXP Semiconductors (NASDAQ:NXPI) issued an update on its second quarter 2024 earnings guidance on Monday morning. 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 0.9 %

NXP Semiconductors stock traded up $2.27 during trading hours on Thursday, reaching $251.70. The company had a trading volume of 825,953 shares, compared to its average volume of 2,381,643. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.35 and a quick ratio of 1.39. NXP Semiconductors has a 12-month low of $161.23 and a 12-month high of $264.26. The company has a 50-day moving average price of $242.28 and a 200 day moving average price of $220.92. The firm has a market cap of $64.46 billion, a price-to-earnings ratio of 23.03, a P/E/G ratio of 0.97 and a beta of 1.54.

NXP Semiconductors (NASDAQ:NXPI) last issued its earnings results on Monday, February 5th. The semiconductor provider reported $3.37 EPS for the quarter, topping the consensus estimate of $3.33 by $0.04. The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.40 billion. NXP Semiconductors had a net margin of 21.24% and a return on equity of 37.65%. Equities analysts forecast that NXP Semiconductors will post 12.21 earnings per share for the current year.

NXP Semiconductors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Thursday, March 21st were paid a $1.014 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $4.06 annualized dividend and a dividend yield of 1.61%. NXP Semiconductors’s payout ratio is presently 37.49%.

Analysts Set New Price Targets

NXPI has been the subject of several research analyst reports. TD Cowen increased their price objective on NXP Semiconductors from $270.00 to $300.00 and gave the stock an outperform rating in a report on Tuesday, March 12th. Argus raised their price target on NXP Semiconductors from $260.00 to $300.00 and gave the stock a buy rating in a research note on Wednesday. Evercore ISI boosted their price objective on shares of NXP Semiconductors from $300.00 to $370.00 and gave the company an outperform rating in a research report on Wednesday. Wolfe Research raised shares of NXP Semiconductors from a peer perform rating to an outperform rating and set a $255.00 target price for the company in a research report on Thursday, January 18th. Finally, StockNews.com cut shares of NXP Semiconductors from a buy rating to a hold rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $257.72.

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.