Nonlinear Peltier coefficient of a doped InGaAs semiconductor is calculated numerically using the Monte Carlo technique. The Peltier coefficient is also obtained analytically for single parabolic band semiconductors assuming a shifted Fermi-Dirac electronic distribution under an applied bias. Analytical results are in agreement with numerical simulations. Key material parameters affecting the nonlinear behavior are doping concentration, effective mass, and electron-phonon coupling. Current density thresholds at which nonlinear behavior is observable are extracted from numerical data. It is shown that the nonlinear Peltier effect can be used to enhance cooling of thin film microrefrigerator devices especially at low temperatures.