NXP Semiconductors NV (NASDAQ:NXPI) Plans Dividend Increase – $0.38 Per Share
NXP Semiconductors NV (NASDAQ:NXPI) declared a quarterly dividend on Thursday, August 29th, NASDAQ reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.375 per share by the semiconductor provider on Friday, October 4th. This represents a $1.50 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, September 13th. This is an increase from NXP Semiconductors’s previous quarterly dividend of $0.25.
NXP Semiconductors has a payout ratio of 24.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect NXP Semiconductors to earn $7.56 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 19.8%.
NASDAQ:NXPI traded up $2.09 during mid-day trading on Wednesday, hitting $109.95. The stock had a trading volume of 153,202 shares, compared to its average volume of 2,348,696. The company has a current ratio of 1.82, a quick ratio of 1.44 and a debt-to-equity ratio of 0.79. The company has a 50 day simple moving average of $101.89 and a 200-day simple moving average of $97.27. The stock has a market capitalization of $35.30 billion, a price-to-earnings ratio of 18.51, a P/E/G ratio of 1.36 and a beta of 1.24. NXP Semiconductors has a 52 week low of $67.62 and a 52 week high of $108.96.
In other NXP Semiconductors news, EVP Keith M. Shull sold 4,569 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $105.53, for a total value of $482,166.57. Following the completion of the sale, the executive vice president now directly owns 13,783 shares of the company’s stock, valued at approximately $1,454,519.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Peter L. Bonfield sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $98.36, for a total transaction of $983,600.00. Following the completion of the sale, the chairman now directly owns 24,404 shares of the company’s stock, valued at $2,400,377.44. The disclosure for this sale can be found here.
NXPI has been the subject of several analyst reports. ValuEngine downgraded NXP Semiconductors from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Evercore ISI upgraded NXP Semiconductors from an “in-line” rating to an “outperform” rating and raised their target price for the company from $110.00 to $125.00 in a research report on Monday, July 29th. Zacks Investment Research downgraded NXP Semiconductors from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th. Stifel Nicolaus reduced their price target on NXP Semiconductors from $105.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, August 29th. Finally, Raymond James assumed coverage on NXP Semiconductors in a research report on Monday, August 19th. They set an “outperform” rating and a $115.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $105.40.
NXP Semiconductors Company Profile
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; battery cell controllers; and solutions for radar, vision, vehicle-to-vehicle, and vehicle-to-infrastructure systems.
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