2,824,239 Shares in NXP Semiconductors N.V. $NXPI Purchased by Norges Bank

Key Points

• Norges Bank bought 2.82 million shares of NXP Semiconductors in the fourth quarter, a stake valued at about $613 million and equal to roughly 1.12% of the company.
• NXP recently reported better-than-expected quarterly results, with EPS of $3.05 versus estimates of $2.98 and revenue of $3.18 billion, up 12.2% year over year.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $294.25, while the shares last traded above that level at $321.35.

Norges Bank purchased a new position in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,824,239 shares of the semiconductor provider's stock, valued at approximately $613,029,000. Norges Bank owned about 1.12% of NXP Semiconductors as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Zweig DiMenna Associates LLC raised its holdings in NXP Semiconductors by 48.9% in the 4th quarter. Zweig DiMenna Associates LLC now owns 62,500 shares of the semiconductor provider's stock valued at $13,566,000 after acquiring an additional 20,531 shares during the last quarter. National Pension Service raised its holdings in NXP Semiconductors by 8.4% in the 4th quarter. National Pension Service now owns 869,010 shares of the semiconductor provider's stock valued at $188,627,000 after acquiring an additional 67,401 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. acquired a new stake in NXP Semiconductors in the 4th quarter valued at about $3,946,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in NXP Semiconductors in the 4th quarter valued at about $9,969,000. Finally, Moors & Cabot Inc. raised its holdings in NXP Semiconductors by 6.6% in the 4th quarter. Moors & Cabot Inc. now owns 1,341 shares of the semiconductor provider's stock valued at $291,000 after acquiring an additional 83 shares during the last quarter. Institutional investors and hedge funds own 90.54% of the company's stock.

NXP Semiconductors Price Performance

Shares of NASDAQ NXPI opened at $321.35 on Monday. The company has a 50 day simple moving average of $248.13 and a 200-day simple moving average of $230.64. The company has a market capitalization of $81.13 billion, a P/E ratio of 30.75, a P/E/G ratio of 1.16 and a beta of 1.77. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.24 and a quick ratio of 1.55. NXP Semiconductors N.V. has a 1 year low of $183.00 and a 1 year high of $339.95.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The semiconductor provider reported $3.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.98 by $0.07. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.14 billion. NXP Semiconductors had a net margin of 21.03% and a return on equity of 26.75%. The business's revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.64 EPS. On average, equities research analysts predict that NXP Semiconductors N.V. will post 13.38 earnings per share for the current year.

NXP Semiconductors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Wednesday, March 25th were issued a dividend of $1.014 per share. The ex-dividend date was Wednesday, March 25th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.3%. NXP Semiconductors's dividend payout ratio (DPR) is currently 38.85%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Truist Financial increased their price objective on shares of NXP Semiconductors from $255.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Jefferies Financial Group increased their price objective on shares of NXP Semiconductors from $265.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Sanford C. Bernstein increased their price objective on shares of NXP Semiconductors from $240.00 to $270.00 and gave the company a "market perform" rating in a report on Wednesday, April 29th. KeyCorp increased their price objective on shares of NXP Semiconductors from $300.00 to $345.00 and gave the company an "overweight" rating in a report on Wednesday, April 29th. Finally, Oppenheimer increased their price objective on shares of NXP Semiconductors from $250.00 to $300.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, NXP Semiconductors has a consensus rating of "Moderate Buy" and a consensus price target of $294.25.

Insider Transactions at NXP Semiconductors

In other news, EVP Andrew Micallef sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $194.58, for a total transaction of $194,580.00. Following the completion of the sale, the executive vice president owned 9,942 shares in the company, valued at $1,934,514.36. This trade represents a 9.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Andrew Hardy sold 5,289 shares of the firm's stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $235.00, for a total transaction of $1,242,915.00. Following the sale, the executive vice president owned 2,020 shares of the company's stock, valued at $474,700. This represents a 72.36% decrease in their position. 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 10,865 shares of company stock worth $2,508,416 in the last 90 days. Insiders own 0.05% of the company's stock.

NXP Semiconductors 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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