Shares of NXP Semiconductors (NASDAQ:NXPI) fell in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2022. Earnings per share came in at $2.76, which missed estimates of $2.77 per share. Sales increased by 8.9% year-over-year, with revenue hitting $3.31 billion. This beat analysts’ expectations of $3.3 billion. In addition, NXPI raised its dividend to $1.014 per share, which equates to a 20% increase. As a result, its annualized yield is now 2.26%.
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Looking forward, management now expects revenue and earnings per share for Q1 2023 to be in the ranges of $2.9 billion to $3.1 billion and $2.12 to $2.51, respectively.
Overall, Wall Street has a consensus price target of $181.56 on NXP Semiconductor stock, implying 1.16% upside potential, as indicated by the graphic above.
