Bank of Nova Scotia Invests $89.66 Million in NXP Semiconductors N.V. $NXPI

Key Points

• Bank of Nova Scotia acquired 319,049 shares of NXP Semiconductors in the second quarter, valued at approximately $89.66 million and representing about 0.13% of the company. Institutional investors and hedge funds collectively own 90.54% of NXPI.
• NXP reported quarterly earnings of $3.61 per share, exceeding estimates, while revenue rose 19.5% year over year to $3.50 billion. The company also maintains a quarterly dividend of $1.014, equivalent to an annualized yield of about 1.8%.
• Analyst sentiment remains a “Moderate Buy”, with 16 Buy, nine Hold, and one Sell rating and a consensus price target of $305.43, although targets range widely from $190 to $400.

Bank of Nova Scotia bought a new stake in NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 319,049 shares of the semiconductor provider's stock, valued at approximately $89,662,000. Bank of Nova Scotia owned about 0.13% of NXP Semiconductors as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in NXPI. Elevation Point Wealth Partners LLC acquired a new stake in NXP Semiconductors during the 2nd quarter worth $5,408,000. Greenland Capital Management LP purchased a new position in NXP Semiconductors during the 2nd quarter worth $760,000. Alta Advisers Ltd acquired a new position in NXP Semiconductors in the second quarter valued at $293,000. Daiichi Life Insurance Co. Ltd. acquired a new stake in shares of NXP Semiconductors during the second quarter worth about $3,275,000. Finally, Commerce Bank acquired a new stake in shares of NXP Semiconductors during the second quarter worth about $7,952,000. 90.54% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Christopher L. Jensen sold 1,746 shares of the firm'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 $1,153,118.79. This trade represents a 32.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Micallef sold 1,000 shares of the firm's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $315.57, for a total transaction of $315,570.00. Following the completion of the sale, the executive vice president owned 8,942 shares of the company's stock, valued at $2,821,826.94. This trade represents 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. 0.05% of the stock is currently owned by company insiders.

NXP Semiconductors Stock Performance

Shares of NXPI stock opened at $225.56 on Friday. The company has a market cap of $56.88 billion, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 0.77 and a beta of 1.81. The stock has a 50 day simple moving average of $265.95 and a 200-day simple moving average of $252.35. NXP Semiconductors N.V. has a 12-month low of $183.00 and a 12-month high of $339.95. The company has a current ratio of 2.04, a quick ratio of 1.36 and a debt-to-equity ratio of 0.88.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The semiconductor provider reported $3.61 EPS for the quarter, beating the consensus estimate of $3.52 by $0.09. NXP Semiconductors had a return on equity of 27.83% and a net margin of 22.56%.The business had revenue of $3.50 billion during the quarter, compared to analysts' expectations of $3.47 billion. During the same period last year, the firm earned $2.72 EPS. The company's quarterly revenue was up 19.5% compared to the same quarter last year. On average, equities analysts forecast that NXP Semiconductors N.V. will post 13.73 EPS for the current year.

NXP Semiconductors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Wednesday, June 24th were issued a $1.014 dividend. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $4.06 dividend on an annualized basis and a yield of 1.8%. NXP Semiconductors's dividend payout ratio (DPR) is 34.64%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. UBS Group reaffirmed a "neutral" rating and set a $270.00 price objective (down from $305.00) on shares of NXP Semiconductors in a research note on Monday, August 3rd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $400.00 price objective on shares of NXP Semiconductors in a research report on Monday, August 17th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of NXP Semiconductors in a research note on Wednesday, April 29th. KeyCorp increased their price target on NXP Semiconductors from $300.00 to $345.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. Finally, Mizuho lowered their price objective on shares of NXP Semiconductors from $200.00 to $190.00 and set an "underperform" rating on the stock in a research report on Wednesday, July 29th. Sixteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $305.43.

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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