Assenagon Asset Management S.A. Has $104.03 Million Stock Position in NXP Semiconductors N.V. $NXPI

Key Points

• Assenagon Asset Management increased its NXP Semiconductors stake by 72.3% in the second quarter, holding 370,193 shares valued at approximately $104 million. Institutional investors collectively own 90.54% of the company.
• Analysts maintain a generally positive outlook, with 16 Buy, nine Hold and one Sell rating. NXP has a consensus rating of “Moderate Buy” and an average price target of $305.43.
• NXP exceeded quarterly earnings and revenue expectations, reporting $3.61 in EPS and $3.50 billion in revenue, up 19.5% year over year. The company also pays a quarterly dividend of $1.014, representing an annualized yield of about 1.7%.

Assenagon Asset Management S.A. boosted its position in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 72.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 370,193 shares of the semiconductor provider's stock after purchasing an additional 155,358 shares during the quarter. Assenagon Asset Management S.A. owned about 0.15% of NXP Semiconductors worth $104,035,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of NXPI. MGO One Seven LLC grew its holdings in shares of NXP Semiconductors by 63.0% in the 4th quarter. MGO One Seven LLC now owns 13,870 shares of the semiconductor provider's stock valued at $3,011,000 after buying an additional 5,359 shares during the period. Teacher Retirement System of Texas increased its holdings in shares of NXP Semiconductors by 16.4% during the 4th quarter. Teacher Retirement System of Texas now owns 45,366 shares of the semiconductor provider's stock worth $9,847,000 after acquiring an additional 6,379 shares during the last quarter. Deutsche Bank AG lifted its position in NXP Semiconductors by 5.1% during the fourth quarter. Deutsche Bank AG now owns 1,928,214 shares of the semiconductor provider's stock worth $418,538,000 after acquiring an additional 93,316 shares during the last quarter. Barclays PLC increased its position in NXP Semiconductors by 31.5% during the fourth quarter. Barclays PLC now owns 2,283,397 shares of the semiconductor provider's stock worth $495,634,000 after acquiring an additional 546,790 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of NXP Semiconductors by 3.3% during the 4th quarter. Principal Financial Group Inc. now owns 274,099 shares of the semiconductor provider's stock worth $59,496,000 after purchasing an additional 8,676 shares in the last quarter. Institutional investors own 90.54% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NXPI shares. Wolfe Research boosted their price objective on NXP Semiconductors from $270.00 to $320.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Barclays lifted their price target on NXP Semiconductors from $295.00 to $340.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th. Weiss Ratings restated a "hold (c+)" rating on shares of NXP Semiconductors in a report on Friday, July 31st. Morgan Stanley upped their price objective on NXP Semiconductors from $335.00 to $338.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. Finally, Susquehanna raised their price objective on shares of NXP Semiconductors from $210.00 to $250.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Sixteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $305.43.

Insider Activity

In other NXP Semiconductors news, EVP Andrew Micallef sold 1,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $315.57, for a total transaction of $315,570.00. Following the transaction, the executive vice president directly owned 8,942 shares in the company, valued at $2,821,826.94. This trade represents a 10.06% 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 Christopher L. Jensen sold 1,746 shares of NXP Semiconductors stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $316.53, for a total transaction of $552,661.38. Following the transaction, the executive vice president directly owned 3,643 shares in the company, valued at $1,153,118.79. This trade represents a 32.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.05% of the stock is owned by insiders.

NXP Semiconductors Stock Up 3.4%

NXP Semiconductors stock opened at $239.71 on Friday. The company has a market capitalization of $60.45 billion, a P/E ratio of 20.45, a P/E/G ratio of 0.79 and a beta of 1.81. NXP Semiconductors N.V. has a twelve month low of $183.00 and a twelve month high of $339.95. The company has a quick ratio of 1.36, a current ratio of 2.04 and a debt-to-equity ratio of 0.88. The firm has a 50 day moving average price of $281.17 and a 200-day moving average price of $252.53.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last posted its earnings results on Wednesday, July 29th. The semiconductor provider reported $3.61 earnings per share for the quarter, topping the consensus estimate of $3.52 by $0.09. NXP Semiconductors had a net margin of 22.56% and a return on equity of 27.83%. 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 earned $2.72 earnings per share. The company's revenue was up 19.5% on a year-over-year basis. As a group, equities analysts predict that NXP Semiconductors N.V. will post 13.73 EPS for the current year.

NXP Semiconductors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Wednesday, June 24th were paid a $1.014 dividend. The ex-dividend date was Wednesday, June 24th. This represents a $4.06 annualized dividend and a yield of 1.7%. NXP Semiconductors's dividend payout ratio is currently 34.64%.

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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