Bank of New York Mellon Corp Sells 30,023 Shares of NXP Semiconductors N.V. $NXPI

Key Points

• Bank of New York Mellon trimmed its NXP Semiconductors stake by 2.4% in the fourth quarter, selling 30,023 shares and leaving it with 1,221,203 shares worth about $265.1 million.
• NXP posted better-than-expected quarterly results, with EPS of $3.05 and revenue of $3.18 billion, both topping analyst estimates and marking 12.2% year-over-year revenue growth.
• Analyst sentiment remains positive: the stock has a consensus “Moderate Buy” rating with an average price target of $294.25, while several firms recently raised their targets after earnings.

Bank of New York Mellon Corp reduced its position in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 2.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,221,203 shares of the semiconductor provider's stock after selling 30,023 shares during the quarter. Bank of New York Mellon Corp owned about 0.49% of NXP Semiconductors worth $265,074,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in NXP Semiconductors in the 4th quarter worth about $613,029,000. Wellington Management Group LLP boosted its position in shares of NXP Semiconductors by 11.9% during the third quarter. Wellington Management Group LLP now owns 12,583,718 shares of the semiconductor provider's stock valued at $2,865,690,000 after buying an additional 1,333,920 shares during the period. Rafferty Asset Management LLC grew its stake in shares of NXP Semiconductors by 56.3% during the second quarter. Rafferty Asset Management LLC now owns 1,916,922 shares of the semiconductor provider's stock valued at $418,828,000 after buying an additional 690,277 shares during the last quarter. Woodline Partners LP grew its stake in shares of NXP Semiconductors by 6,342.2% during the third quarter. Woodline Partners LP now owns 673,403 shares of the semiconductor provider's stock valued at $153,354,000 after buying an additional 662,950 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of NXP Semiconductors by 21.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,227,516 shares of the semiconductor provider's stock worth $507,241,000 after buying an additional 398,250 shares during the period. 90.54% of the stock is currently owned by institutional investors.

NXP Semiconductors Trading Up 0.1%

NXPI opened at $322.22 on Friday. 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 stock's fifty day moving average is $258.24 and its two-hundred day moving average is $233.98. The company has a market capitalization of $81.35 billion, a P/E ratio of 30.83, a PEG ratio of 1.16 and a beta of 1.77. NXP Semiconductors N.V. has a 52 week low of $183.00 and a 52 week high of $339.95.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last posted 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. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.14 billion. NXP Semiconductors had a return on equity of 26.75% and a net margin of 21.03%.The business's revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.64 EPS. Analysts forecast that NXP Semiconductors N.V. will post 13.38 earnings per share for the current year.

NXP Semiconductors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Wednesday, March 25th were given a dividend of $1.014 per share. The ex-dividend date of this dividend was Wednesday, March 25th. This represents a $4.06 dividend on an annualized basis and a yield of 1.3%. NXP Semiconductors's dividend payout ratio (DPR) is 38.85%.

Wall Street Analyst Weigh In

NXPI has been the subject of a number of recent analyst reports. Citigroup boosted their price objective on NXP Semiconductors from $255.00 to $270.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Oppenheimer increased their target price on NXP Semiconductors from $250.00 to $300.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. The Goldman Sachs Group reiterated a "buy" rating on shares of NXP Semiconductors in a research report on Wednesday, April 29th. JPMorgan Chase & Co. boosted their target price on shares of NXP Semiconductors from $250.00 to $295.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. Finally, Susquehanna upped their price target on shares of NXP Semiconductors from $210.00 to $250.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $294.25.

Insider Activity

In other news, EVP Christopher L. Jensen sold 1,746 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $316.53, for a total value of $552,661.38. Following the completion of the sale, the executive vice president owned 3,643 shares in the company, valued at approximately $1,153,118.79. The trade was a 32.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Hardy sold 5,289 shares of the company's stock in a transaction that occurred on Thursday, April 23rd. The stock was 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 $474,700. The trade was a 72.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 12,611 shares of company stock worth $3,061,078. 0.05% of the stock is currently owned by corporate insiders.

About NXP Semiconductors

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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