77,014 Shares in NXP Semiconductors N.V. $NXPI Purchased by Sterling Capital Management LLC

Key Points

• Sterling Capital Management acquired 77,014 shares of NXP Semiconductors worth approximately $18.3 million, while institutional investors collectively own 90.54% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $302.30, compared with the stock’s recent price of $234.92.
• NXP reported quarterly revenue of $3.50 billion, up 19.5% year over year, and adjusted earnings of $3.61 per share, exceeding analyst expectations; it also pays an annualized dividend of $4.06 per share.

Sterling Capital Management LLC acquired a new position in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 77,014 shares of the semiconductor provider's stock, valued at approximately $18,293,000.

A number of other hedge funds have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in NXP Semiconductors during the 2nd quarter worth about $6,716,412,000. Wellington Management Group LLP bought a new position in shares of NXP Semiconductors in the 2nd quarter worth about $21,099,000. Bank of America Corp DE acquired 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 in the 2nd quarter valued at about $1,167,458,000. Finally, Jupiter Topco LLC acquired a new position in shares of NXP Semiconductors in the 2nd quarter valued at about $742,385,000. Institutional investors own 90.54% of the company's stock.

Insider Buying and Selling

In other NXP Semiconductors news, EVP Christopher Jensen sold 3,355 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $240.00, for a total transaction of $805,200.00. Following the transaction, the executive vice president directly owned 288 shares in the company, valued at $69,120. This trade represents a 92.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 on Tuesday, September 15th. The stock was 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 $1,795,209.68. This represents a 11.18% 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 owned by company insiders.

Wall Street Analysts Forecast Growth

NXPI has been the subject of several research analyst reports. TD Cowen decreased their price target on shares of NXP Semiconductors from $290.00 to $275.00 and set a "buy" rating for the company in a research note on Monday, October 19th. Susquehanna lifted their price objective on shares of NXP Semiconductors from $210.00 to $250.00 and gave the stock a "neutral" rating in a report on Tuesday, July 21st. Morgan Stanley upped their target price on NXP Semiconductors from $335.00 to $338.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Sanford C. Bernstein restated a "market perform" rating and set a $290.00 price objective (up from $270.00) on shares of NXP Semiconductors in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. boosted their target price on NXP Semiconductors from $295.00 to $300.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. Sixteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, NXP Semiconductors presently has a consensus rating of "Moderate Buy" and a consensus target price of $302.30.

NXP Semiconductors Price Performance

Shares of NXP Semiconductors stock traded down $2.87 during trading on Friday, hitting $234.92. The stock had a trading volume of 3,271,636 shares, compared to its average volume of 3,290,400. The firm has a market cap of $59.24 billion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 0.81 and a beta of 1.80. The company has a current ratio of 2.04, a quick ratio of 1.36 and a debt-to-equity ratio of 0.88. The business's 50-day moving average is $230.20 and its 200 day moving average is $257.46. NXP Semiconductors N.V. has a 12 month low of $183.00 and a 12 month high of $339.95.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The semiconductor provider reported $3.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.52 by $0.09. NXP Semiconductors had a return on equity of 27.83% and a net margin of 22.56%. The firm had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter last year, the company posted $2.72 EPS. The company's revenue for the quarter was up 19.5% on a year-over-year basis. As a group, sell-side analysts anticipate that NXP Semiconductors N.V. will post 13.75 earnings per share for the current year.

NXP Semiconductors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Wednesday, September 16th were issued a $1.0140 dividend. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Wednesday, September 16th. NXP Semiconductors's dividend payout ratio is presently 34.64%.

NXP Semiconductors Profile

NXP Semiconductors N.V. is a global semiconductor company that develops technologies for automotive, industrial, communications infrastructure, mobile, and Internet of Things applications. The company provides processing, connectivity, security, sensing, and power-management solutions that help enable connected and automated systems.

Its product portfolio includes microcontrollers and application processors, automotive networking and radar solutions, secure identification and authentication technologies, near-field communication products, radio-frequency power amplifiers, analog and mixed-signal devices, and wireless connectivity solutions.

Want to see what other hedge funds are holding NXPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.