Leuthold Group LLC bought a new stake in NXP Semiconductors N.V. (NASDAQ:NXPI – Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,592 shares of the semiconductor provider’s stock, valued at approximately $853,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. bought a new stake in NXP Semiconductors during the second quarter worth $6,716,412,000. State Street Corp grew its position in shares of NXP Semiconductors by 6.4% in the 2nd quarter. State Street Corp now owns 11,699,143 shares of the semiconductor provider’s stock valued at $3,298,932,000 after acquiring an additional 702,099 shares during the period. Bank of America Corp DE bought a new position in shares of NXP Semiconductors in the 2nd quarter valued at about $1,169,846,000. Van ECK Associates Corp acquired a new position in shares of NXP Semiconductors during the 2nd quarter worth about $1,167,458,000. Finally, Jupiter Topco LLC bought a new stake in shares of NXP Semiconductors in the 2nd quarter valued at about $742,385,000. 90.54% of the stock is owned by institutional investors.
NXP Semiconductors Trading Up 2.0%
Shares of NXPI stock opened at $261.56 on Wednesday. NXP Semiconductors N.V. has a 12-month low of $183.00 and a 12-month high of $339.95. The company has a market capitalization of $65.93 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 0.87 and a beta of 1.83. The firm has a 50 day moving average price of $237.49 and a two-hundred day moving average price of $246.78. The company has a quick ratio of 1.47, a current ratio of 2.12 and a debt-to-equity ratio of 0.80.
NXP Semiconductors (NASDAQ:NXPI – Get Free Report) last posted its earnings results on Wednesday, October 28th. The semiconductor provider reported $4.20 EPS for the quarter, beating the consensus estimate of $4.12 by $0.08. The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.76 billion. NXP Semiconductors had a return on equity of 28.57% and a net margin of 23.40%. The firm’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 earned $3.11 earnings per share. As a group, analysts predict that NXP Semiconductors N.V. will post 13.81 earnings per share for the current year.
NXP Semiconductors announced that its Board of Directors has authorized a stock repurchase program on Tuesday, October 27th that allows the company to repurchase $5 billion in outstanding shares. This repurchase authorization allows the semiconductor provider to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
NXP Semiconductors Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Wednesday, September 16th were paid a $1.0140 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $4.06 annualized dividend and a yield of 1.6%. NXP Semiconductors’s payout ratio is 31.92%.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on NXPI shares. Stifel Nicolaus cut their target price on shares of NXP Semiconductors from $265.00 to $250.00 and set a “hold” rating for the company in a research note on Wednesday, October 28th. Jefferies Financial Group dropped their price objective 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. TD Cowen raised their price objective on NXP Semiconductors from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. Wells Fargo & Company lifted their target price on NXP Semiconductors from $235.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 28th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of NXP Semiconductors in a report on Thursday, October 29th. Sixteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, NXP Semiconductors presently has an average rating of “Moderate Buy” and a consensus price target of $295.78.
View Our Latest Stock Analysis on NXP Semiconductors
Insider Buying and Selling at NXP Semiconductors
In other news, Director Anthony R. Foxx sold 400 shares of NXP Semiconductors stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $263.60, for a total transaction of $105,440.00. Following the completion of the sale, the director owned 2,942 shares of the company’s stock, valued at approximately $775,511.20. This trade represents a 11.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction 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 approximately $1,795,209.68. The trade was a 11.18% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 4,755 shares of company stock valued at $1,136,680 in the last ninety days. 0.05% of the stock is currently owned by corporate insiders.
NXP Semiconductors Company Profile
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.
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