Bank of America Corp DE Buys Shares of 4,162,708 NXP Semiconductors N.V. $NXPI

Key Points

• Bank of America acquired 4.16 million NXP Semiconductors shares in the second quarter, worth approximately $1.17 billion and representing a 1.65% stake. Institutional investors collectively own 90.54% of the company.
• NXP reported stronger-than-expected quarterly results, with EPS of $3.61 versus the $3.52 consensus estimate and revenue of $3.50 billion, up 19.5% year over year.
• The company declared a quarterly dividend of $1.014 per share, equivalent to an annualized $4.06 payout and a 1.8% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $305.65.

Bank of America Corp DE bought a new stake in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,162,708 shares of the semiconductor provider's stock, valued at approximately $1,169,846,000. Bank of America Corp DE owned 1.65% of NXP Semiconductors as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. MCF Advisors LLC lifted its position in shares of NXP Semiconductors by 25.3% during the 4th quarter. MCF Advisors LLC now owns 213 shares of the semiconductor provider's stock valued at $46,000 after buying an additional 43 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in NXP Semiconductors by 2.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 2,305 shares of the semiconductor provider's stock valued at $454,000 after acquiring an additional 45 shares during the period. CNB Bank raised its stake in NXP Semiconductors by 48.8% in the 4th quarter. CNB Bank now owns 180 shares of the semiconductor provider's stock valued at $39,000 after acquiring an additional 59 shares during the period. Ballast Advisors LLC lifted its holdings in NXP Semiconductors by 0.7% during the first quarter. Ballast Advisors LLC now owns 9,078 shares of the semiconductor provider's stock valued at $1,787,000 after purchasing an additional 61 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its holdings in NXP Semiconductors by 6.1% during the first quarter. Chicago Partners Investment Group LLC now owns 1,200 shares of the semiconductor provider's stock valued at $236,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 90.54% of the company's stock.

NXP Semiconductors Price Performance

Shares of NASDAQ:NXPI opened at $224.23 on Tuesday. The company has a 50 day moving average of $244.13 and a 200 day moving average of $251.50. 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 stock has a market cap of $56.54 billion, a P/E ratio of 19.13, a P/E/G ratio of 0.80 and a beta of 1.81. 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 posted its earnings results on Wednesday, July 29th. The semiconductor provider reported $3.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.09. The business had revenue of $3.50 billion for the quarter, compared to analysts' expectations of $3.47 billion. NXP Semiconductors had a net margin of 22.56% and a return on equity of 27.83%. The business's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.72 EPS. As a group, sell-side analysts forecast that NXP Semiconductors N.V. will post 13.73 EPS for the current fiscal year.

NXP Semiconductors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 16th will be given a $1.014 dividend. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Wednesday, September 16th. NXP Semiconductors's dividend payout ratio (DPR) is 34.64%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Mizuho reduced their target price on shares of NXP Semiconductors from $200.00 to $190.00 and set an "underperform" rating for the company in a research note on Wednesday, July 29th. Cantor Fitzgerald reissued an "overweight" rating on shares of NXP Semiconductors in a research report on Tuesday, September 8th. Weiss Ratings restated a "hold (c+)" rating on shares of NXP Semiconductors in a research note on Friday, July 31st. Stifel Nicolaus set a $282.00 price objective on shares of NXP Semiconductors in a report on Wednesday, July 29th. Finally, Bank of America reiterated a "neutral" rating on shares of NXP Semiconductors in a research note on Wednesday, July 29th. Sixteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $305.65.

NXP Semiconductors Company Profile

NXP Semiconductors N.V. NASDAQ: NXPI is a global semiconductor company headquartered in Eindhoven, the Netherlands. The company develops and sells high-performance mixed-signal and standard semiconductor products used in automotive, industrial, communications infrastructure, mobile, and consumer applications.

Its product portfolio includes microcontrollers and application processors, automotive networking and radar solutions, connectivity chips, analog and interface devices, radio-frequency power products, and security technologies.

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