- The shares of NXP Semiconductors NV (NASDAQ: NXPI) have received a $275 price target from Cowen. These are the details.
The shares of NXP Semiconductors NV (NASDAQ: NXPI) have received a $275 price target from Cowen. These are the details. And Cowen analyst Matthew Ramsay increased the price target on NXP Semiconductors from $265 while maintaining an “Outperform” rating on the shares.
Ramsay said that given the backdrop, the company is confident it can outgrow the high-end of its 8-12% long-term target in 2022. NXP Semiconductors recently reported Q4 EPS of $2.24, which was $0.75 less than analyst estimates of $2.99. And the revenue for the quarter was $3.04 billion compared to a consensus estimate of $3 billion.
In terms of guidance, NXP Semiconductors expects Q1 2022 revenue of $3.025-3.175 billion compared to the consensus of $2.96 billion. And on January 31, the NXP Board of Directors approved a 50% increase in the quarterly cash dividend to $0.845 per ordinary share.
Plus the NXP Board of Directors approved a new $2.00 billion 2022 Share Repurchase Program. And the new share repurchase authorization is in addition to the approximately $1.35 billion remaining for repurchase under previously authorized share repurchase programs.
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