Bank of New York Mellon Corp Sells 25,849 Shares of NXP Semiconductors N.V. $NXPI

Key Points

• Bank of New York Mellon reduced its NXP Semiconductors stake by 2.1% in the first quarter, selling 25,849 shares and ending with about 1.195 million shares valued at roughly $235.3 million.
• Analyst sentiment remains constructive, with several firms raising price targets; the stock currently carries a consensus “Moderate Buy” rating and an average target price of $307.27.
• NXP reported solid quarterly results, posting EPS of $3.05 and revenue of $3.18 billion, both ahead of expectations, while also paying a quarterly dividend of $1.014 per share.

Bank of New York Mellon Corp cut its stake in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,195,354 shares of the semiconductor provider's stock after selling 25,849 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.47% of NXP Semiconductors worth $235,317,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NXPI. Camden National Bank lifted its stake in NXP Semiconductors by 11.1% in the first quarter. Camden National Bank now owns 1,646 shares of the semiconductor provider's stock worth $324,000 after acquiring an additional 165 shares during the period. Checchi Capital Advisers LLC grew its holdings in NXP Semiconductors by 18.2% during the 1st quarter. Checchi Capital Advisers LLC now owns 1,935 shares of the semiconductor provider's stock worth $381,000 after acquiring an additional 298 shares in the last quarter. Hartford Funds Management Co LLC increased its position in NXP Semiconductors by 30.3% during the 1st quarter. Hartford Funds Management Co LLC now owns 9,605 shares of the semiconductor provider's stock valued at $1,892,000 after purchasing an additional 2,232 shares during the period. Calamos Advisors LLC increased its position in NXP Semiconductors by 1.3% during the 1st quarter. Calamos Advisors LLC now owns 93,315 shares of the semiconductor provider's stock valued at $18,370,000 after purchasing an additional 1,229 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of NXP Semiconductors in the 1st quarter valued at about $336,000. Institutional investors own 90.54% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on NXPI. Jefferies Financial Group upped their price target on shares of NXP Semiconductors from $265.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of NXP Semiconductors in a report on Wednesday, April 29th. Sanford C. Bernstein boosted their price objective on shares of NXP Semiconductors from $240.00 to $270.00 and gave the stock a "market perform" rating in a research note on Wednesday, April 29th. Cantor Fitzgerald increased their target price on NXP Semiconductors from $380.00 to $400.00 and gave the company an "overweight" rating in a research report on Monday, June 29th. Finally, Morgan Stanley lifted their price target on NXP Semiconductors from $299.00 to $335.00 and gave the company an "overweight" rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, NXP Semiconductors currently has an average rating of "Moderate Buy" and an average target price of $307.27.

Insider Activity at NXP Semiconductors

In other NXP Semiconductors news, EVP Andrew Hardy sold 5,289 shares of the firm's stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $235.00, for a total value of $1,242,915.00. Following the completion of the sale, the executive vice president owned 2,020 shares of the company's stock, valued at approximately $474,700. This trade represents a 72.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 dated Monday, June 15th. The stock was sold at an average price of $315.57, for a total value of $315,570.00. Following the sale, the executive vice president owned 8,942 shares in the company, valued at $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. Insiders have sold 12,611 shares of company stock valued at $3,182,068 in the last ninety days. Corporate insiders own 0.05% of the company's stock.

NXP Semiconductors Price Performance

Shares of NXPI opened at $266.53 on Friday. The company has a market cap of $67.29 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 0.96 and a beta of 1.79. 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 1.55, a current ratio of 2.24 and a debt-to-equity ratio of 1.00. The company has a 50 day moving average of $298.25 and a two-hundred day moving average of $250.47.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The semiconductor provider reported $3.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.98 by $0.07. NXP Semiconductors had a return on equity of 26.75% and a net margin of 21.03%.The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the prior year, the firm posted $2.64 earnings per share. The business's quarterly revenue was up 12.2% on a year-over-year basis. As a group, analysts predict that NXP Semiconductors N.V. will post 13.49 earnings per share for the current fiscal year.

NXP Semiconductors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Wednesday, June 24th were paid a dividend of $1.014 per share. This represents a $4.06 annualized dividend and a yield of 1.5%. The ex-dividend date was Wednesday, June 24th. NXP Semiconductors's payout ratio is 38.85%.

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.

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.