Cardinal Capital Management Inc. raised its stake in shares of NXP Semiconductors N.V. (NASDAQ:NXPI – Free Report) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 159,579 shares of the semiconductor provider’s stock after purchasing an additional 3,470 shares during the quarter. NXP Semiconductors makes up about 1.1% of Cardinal Capital Management Inc.’s holdings, making the stock its 27th biggest holding. Cardinal Capital Management Inc.’s holdings in NXP Semiconductors were worth $44,846,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of NXPI. JPL Wealth Management LLC bought a new stake in shares of NXP Semiconductors during the 3rd quarter valued at about $26,000. SHP Wealth Management bought a new position in NXP Semiconductors in the fourth quarter worth about $27,000. Allied Private Wealth LLC purchased a new stake in NXP Semiconductors in the second quarter worth about $28,000. Acumen Wealth Advisors LLC purchased a new stake in NXP Semiconductors in the fourth quarter worth about $28,000. Finally, Jessup Wealth Management Inc purchased a new stake in NXP Semiconductors in the fourth quarter worth about $29,000. 90.54% of the stock is owned by hedge funds and other institutional investors.
NXP Semiconductors Stock Up 1.3%
NXP Semiconductors stock opened at $236.38 on Wednesday. The firm has a market cap of $59.61 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 0.79 and a beta of 1.81. The stock has a fifty day simple moving average of $277.87 and a two-hundred day simple moving average of $252.68. NXP Semiconductors N.V. has a 12 month low of $183.00 and a 12 month high of $339.95. The company has a current ratio of 2.04, a quick ratio of 1.36 and a debt-to-equity ratio of 0.88.
NXP Semiconductors Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Wednesday, June 24th were paid a dividend of $1.014 per share. The ex-dividend date was Wednesday, June 24th. This represents a $4.06 annualized dividend and a yield of 1.7%. NXP Semiconductors’s dividend payout ratio is currently 34.64%.
Insider Activity
In other news, EVP Christopher L. Jensen sold 1,746 shares of NXP Semiconductors stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $316.53, for a total value of $552,661.38. Following the completion of the sale, the executive vice president directly owned 3,643 shares in the company, valued at $1,153,118.79. The trade was a 32.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Micallef sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $315.57, for a total transaction of $315,570.00. Following the transaction, the executive vice president directly owned 8,942 shares of the company’s stock, valued at $2,821,826.94. The trade was a 10.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.05% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
NXPI has been the topic of a number of research analyst reports. Wolfe Research upped their target price on NXP Semiconductors from $270.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Morgan Stanley raised their target price on NXP Semiconductors from $335.00 to $338.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. KeyCorp lifted their price target on NXP Semiconductors from $300.00 to $345.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Jefferies Financial Group upped their price target on NXP Semiconductors from $265.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Evercore increased their price objective on NXP Semiconductors from $260.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Sixteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $305.43.
Read Our Latest Report on NXPI
NXP Semiconductors Company Profile
NXP Semiconductors N.V. is a global semiconductor company headquartered in Eindhoven, the Netherlands, that designs and supplies mixed-signal and standard product solutions for a broad range of end markets. The company focuses on enabling secure connections and infrastructure for embedded applications, developing technologies used across automotive, industrial and Internet of Things (IoT), mobile, and communication infrastructure segments. NXP’s offerings target customers that require reliable, secure, and high-performance semiconductor components for connected devices and systems.
Product lines include microcontrollers and application processors, secure elements and authentication technologies, RF and high-power analog components, connectivity solutions, and vehicle networking and infotainment systems.
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