Waycross Partners LLC bought a new position in shares of NXP Semiconductors N.V. (NASDAQ:NXPI – Free Report) during the third quarter, Holdings Channel.com reports. The fund bought 178,813 shares of the semiconductor provider’s stock, valued at approximately $42,473,000. NXP Semiconductors makes up 3.3% of Waycross Partners LLC’s holdings, making the stock its 10th biggest holding.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in NXP Semiconductors in the second quarter worth approximately $6,716,412,000. State Street Corp grew its holdings in NXP Semiconductors by 6.4% during the 2nd quarter. State Street Corp now owns 11,699,143 shares of the semiconductor provider’s stock worth $3,298,932,000 after acquiring an additional 702,099 shares in the last quarter. Bank of America Corp DE acquired a new position in NXP Semiconductors during the 2nd quarter worth approximately $1,169,846,000. Van ECK Associates Corp purchased a new stake in shares of NXP Semiconductors in the 2nd quarter valued at approximately $1,167,458,000. Finally, Jupiter Topco LLC purchased a new stake in shares of NXP Semiconductors in the 2nd quarter valued at approximately $742,385,000. Institutional investors and hedge funds own 90.54% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on NXPI. Mizuho lowered their target price on shares of NXP Semiconductors from $200.00 to $190.00 and set an “underperform” rating for the company in a research note on Wednesday, July 29th. Jefferies Financial Group cut their price target on NXP Semiconductors from $370.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday, October 28th. KeyCorp decreased their price target on NXP Semiconductors from $345.00 to $330.00 and set an “overweight” rating for the company in a report on Wednesday, October 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price target on shares of NXP Semiconductors in a report on Wednesday, October 28th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NXP Semiconductors in a research report on Thursday, October 29th. Sixteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, NXP Semiconductors currently has an average rating of “Moderate Buy” and an average target price of $295.78.
Read Our Latest Research Report on NXP Semiconductors
Insider Buying and Selling at NXP Semiconductors
In other news, EVP Christopher L. Jensen sold 3,355 shares of NXP Semiconductors stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $240.00, for a total transaction of $805,200.00. Following the sale, the executive vice president owned 288 shares in the company, valued at approximately $69,120. The trade was a 92.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 dated Tuesday, September 15th. The shares were sold at an average price of $226.04, for a total value of $226,040.00. Following the completion of the sale, the executive vice president directly owned 7,942 shares of the company’s stock, valued at $1,795,209.68. The trade was a 11.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 4,755 shares of company stock worth $1,136,680 over the last 90 days. Corporate insiders own 0.05% of the company’s stock.
NXP Semiconductors Stock Up 1.6%
NXPI stock traded up $3.86 during midday trading on Friday, reaching $248.29. 7,155,641 shares of the company were exchanged, compared to its average volume of 4,473,671. The company has a market cap of $62.58 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 0.87 and a beta of 1.83. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.47 and a current ratio of 2.12. NXP Semiconductors N.V. has a 1-year low of $183.00 and a 1-year high of $339.95. The stock’s 50-day simple moving average is $236.09 and its 200 day simple moving average is $246.54.
NXP Semiconductors (NASDAQ:NXPI – Get Free Report) last issued its earnings results on Wednesday, October 28th. The semiconductor provider reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.12 by $0.08. The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.76 billion. NXP Semiconductors had a net margin of 23.40% and a return on equity of 28.57%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.11 EPS. On average, equities analysts forecast that NXP Semiconductors N.V. will post 13.81 earnings per share for the current year.
NXP Semiconductors Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Wednesday, September 16th were paid a $1.0140 dividend. This represents a $4.06 annualized dividend and a yield of 1.6%. The ex-dividend date was Wednesday, September 16th. NXP Semiconductors’s dividend payout ratio is currently 31.92%.
NXP Semiconductors declared that its board has approved a stock repurchase program on Tuesday, October 27th that permits the company to buy back $5 billion in outstanding shares. This buyback authorization permits the semiconductor provider to reacquire shares of its stock through open market purchases. Share buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
About NXP Semiconductors
NXP Semiconductors is a global semiconductor company headquartered in Eindhoven, the Netherlands. It develops and supplies chips and related technologies for automotive, industrial and Internet of Things, mobile, and communications infrastructure applications.
Its products include microcontrollers and processors, analog and mixed-signal components, connectivity solutions, and security technologies. In the automotive sector, NXP supplies technologies used in vehicle networking, radar, and safety systems; its other offerings support applications such as secure identification and near-field communication.
The company traces its origins to Philips’ semiconductor business, which became an independent company in 2006.
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