ARGA Investment Management LP Trims Holdings in NXP Semiconductors N.V. $NXPI

Key Points

• ARGA Investment Management LP cut its NXP Semiconductors stake by 12.7% in the first quarter, selling 33,155 shares and ending with 228,027 shares valued at about $44.9 million.
• NXP posted a solid quarterly update, with earnings of $3.05 per share and revenue of $3.18 billion, both above analyst expectations; revenue also rose 12.2% year over year.
• Wall Street sentiment remains positive overall, with a Moderate Buy consensus and an average price target of $302.27, while the stock was trading at $292.26 at the time of the report.

ARGA Investment Management LP lowered its stake in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 12.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 228,027 shares of the semiconductor provider's stock after selling 33,155 shares during the period. NXP Semiconductors makes up approximately 1.5% of ARGA Investment Management LP's investment portfolio, making the stock its 14th largest position. ARGA Investment Management LP owned 0.09% of NXP Semiconductors worth $44,889,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. JPL Wealth Management LLC purchased a new stake in NXP Semiconductors in the third quarter valued at approximately $26,000. SHP Wealth Management acquired a new position in NXP Semiconductors during the fourth quarter worth $27,000. Acumen Wealth Advisors LLC purchased a new position in shares of NXP Semiconductors during the fourth quarter worth $28,000. Jessup Wealth Management Inc purchased a new position in shares of NXP Semiconductors during the fourth quarter worth $29,000. Finally, Wexford Capital LP acquired a new stake in shares of NXP Semiconductors in the third quarter valued at $31,000. Institutional investors and hedge funds own 90.54% of the company's stock.

Analyst Ratings Changes

NXPI has been the topic of several research analyst reports. Wall Street Zen upgraded NXP Semiconductors from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Bank of America restated a "neutral" rating and set a $230.00 target price (down from $245.00) on shares of NXP Semiconductors in a report on Monday, April 13th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of NXP Semiconductors in a research report on Wednesday, April 29th. Stifel Nicolaus boosted their price target on shares of NXP Semiconductors from $215.00 to $250.00 and gave the stock a "hold" rating in a research note on Friday, April 24th. Finally, Wolfe Research increased their price target on shares of NXP Semiconductors from $270.00 to $320.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $302.27.

NXP Semiconductors Stock Performance

Shares of NXPI opened at $292.26 on Friday. The stock has a 50-day simple moving average of $300.17 and a 200-day simple moving average of $248.72. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.55 and a current ratio of 2.24. The stock has a market capitalization of $73.79 billion, a PE ratio of 27.97, a PEG ratio of 1.05 and a beta of 1.79. 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 released its earnings results on Wednesday, April 29th. The semiconductor provider reported $3.05 earnings per share for the quarter, topping analysts' consensus estimates of $2.98 by $0.07. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.14 billion. NXP Semiconductors had a net margin of 21.03% and a return on equity of 26.75%. The business's quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.64 earnings per share. On average, analysts predict that NXP Semiconductors N.V. will post 13.4 earnings per share for the current fiscal year.

NXP Semiconductors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Wednesday, June 24th were issued a dividend of $1.014 per share. This represents a $4.06 annualized dividend and a yield of 1.4%. The ex-dividend date was Wednesday, June 24th. NXP Semiconductors's payout ratio is 38.85%.

Insider Buying and Selling at NXP Semiconductors

In other news, EVP Andrew Hardy sold 5,289 shares of NXP Semiconductors stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $235.00, for a total transaction of $1,242,915.00. Following the completion of the sale, the executive vice president directly owned 2,020 shares of the company's stock, valued at approximately $474,700. The trade was a 72.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Monday, June 15th. The stock was sold at an average price of $315.57, for a total transaction of $315,570.00. Following the transaction, the executive vice president owned 8,942 shares of the company's stock, valued at approximately $2,821,826.94. The trade was a 10.06% 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. In the last three months, insiders have sold 12,611 shares of company stock valued at $3,182,068. Insiders own 0.05% of the company's stock.

NXP Semiconductors Company 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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