Archer Investment Management LLC Purchases New Stake in NXP Semiconductors (NASDAQ:NXPI)

Archer Investment Management LLC purchased a new stake in NXP Semiconductors (NASDAQ:NXPI - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,671 shares of the semiconductor provider's stock, valued at approximately $318,000.

Several other hedge funds have also recently added to or reduced their stakes in NXPI. Norges Bank purchased a new position in NXP Semiconductors during the 4th quarter valued at about $672,224,000. Van ECK Associates Corp boosted its stake in shares of NXP Semiconductors by 27.1% during the 4th quarter. Van ECK Associates Corp now owns 3,865,446 shares of the semiconductor provider's stock worth $803,432,000 after purchasing an additional 824,317 shares during the last quarter. Voloridge Investment Management LLC boosted its stake in shares of NXP Semiconductors by 131.4% during the 4th quarter. Voloridge Investment Management LLC now owns 1,025,517 shares of the semiconductor provider's stock worth $213,154,000 after purchasing an additional 582,317 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of NXP Semiconductors by 26,732.0% during the 1st quarter. GAMMA Investing LLC now owns 583,864 shares of the semiconductor provider's stock worth $110,969,000 after purchasing an additional 581,688 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in shares of NXP Semiconductors by 14.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 4,086,294 shares of the semiconductor provider's stock worth $849,336,000 after purchasing an additional 500,413 shares during the last quarter. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NXPI has been the topic of several analyst reports. Arete Research raised shares of NXP Semiconductors to a "strong-buy" rating in a research note on Tuesday, March 25th. Citigroup decreased their price target on shares of NXP Semiconductors from $290.00 to $220.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. UBS Group decreased their price target on shares of NXP Semiconductors from $265.00 to $250.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Barclays decreased their price target on shares of NXP Semiconductors from $230.00 to $190.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Susquehanna decreased their target price on shares of NXP Semiconductors from $235.00 to $225.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $246.22.

NXP Semiconductors Stock Up 0.2%

Shares of NXPI traded up $0.34 during mid-day trading on Thursday, reaching $210.36. 1,056,989 shares of the stock traded hands, compared to its average volume of 3,201,058. The firm has a market cap of $53.14 billion, a price-to-earnings ratio of 21.62, a P/E/G ratio of 3.01 and a beta of 1.38. The stock has a fifty day simple moving average of $187.21 and a 200 day simple moving average of $205.89. NXP Semiconductors has a 12-month low of $148.09 and a 12-month high of $296.08. The company has a quick ratio of 1.60, a current ratio of 2.36 and a debt-to-equity ratio of 1.09.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The semiconductor provider reported $2.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.05. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.83 billion. NXP Semiconductors had a net margin of 19.90% and a return on equity of 31.45%. The business's quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.24 earnings per share. Sell-side analysts expect that NXP Semiconductors will post 10.28 EPS for the current fiscal year.

Insider Activity at NXP Semiconductors

In related news, COO Andrew Micallef sold 1,000 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $204.86, for a total value of $204,860.00. Following the sale, the chief operating officer now directly owns 8,828 shares of the company's stock, valued at $1,808,504.08. This represents a 10.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.12% of the stock is currently owned by corporate insiders.

About NXP Semiconductors

NXP Semiconductors N.V. offers various semiconductor products. The company's product portfolio includes microcontrollers; application processors, including i.MX application processors, and i.MX 8 and 9 family of applications processors; communication processors; wireless connectivity solutions, such as near field communications, ultra-wideband, Bluetooth low-energy, Zigbee, and Wi-Fi and Wi-Fi/Bluetooth integrated SoCs; analog and interface devices; radio frequency power amplifiers; and security controllers, as well as semiconductor-based environmental and inertial sensors, including pressure, inertial, magnetic, and gyroscopic sensors.