Carmel Capital Management L.L.C. Boosts Holdings in NXP Semiconductors N.V. $NXPI

Key Points

• Carmel Capital Management increased its NXP Semiconductors stake by 6.4% in the first quarter, buying 3,950 more shares and bringing its holding to 65,862 shares worth about $13.0 million.
• Wall Street sentiment is upbeat, with analysts raising price targets and the stock carrying a consensus rating of “Moderate Buy” and an average target price of $300.08.
• NXP reported solid quarterly results, beating EPS and revenue estimates, while also announcing a quarterly dividend of $1.014 per share to be paid on July 9.

Carmel Capital Management L.L.C. raised its position in NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 6.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 65,862 shares of the semiconductor provider's stock after buying an additional 3,950 shares during the quarter. NXP Semiconductors comprises about 3.7% of Carmel Capital Management L.L.C.'s holdings, making the stock its 13th largest position. Carmel Capital Management L.L.C.'s holdings in NXP Semiconductors were worth $12,966,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of NXPI. JPL Wealth Management LLC acquired a new position in shares of NXP Semiconductors during the third quarter worth about $26,000. SHP Wealth Management acquired a new stake in NXP Semiconductors in the fourth quarter valued at about $27,000. Acumen Wealth Advisors LLC acquired a new stake in NXP Semiconductors in the fourth quarter valued at about $28,000. Jessup Wealth Management Inc purchased a new stake in NXP Semiconductors in the 4th quarter valued at approximately $29,000. Finally, Quattro Advisors LLC purchased a new stake in NXP Semiconductors in the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 90.54% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Citigroup increased their target price on NXP Semiconductors from $270.00 to $370.00 and gave the stock a "buy" rating in a research note on Tuesday, June 23rd. Needham & Company LLC lifted their price target on NXP Semiconductors from $250.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Weiss Ratings raised NXP Semiconductors from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 4th. Stifel Nicolaus boosted their target price on shares of NXP Semiconductors from $215.00 to $250.00 and gave the stock a "hold" rating in a research report on Friday, April 24th. Finally, Truist Financial upped their price target on shares of NXP Semiconductors from $255.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $300.08.

Insider Transactions at NXP Semiconductors

In other news, EVP Andrew Micallef sold 1,000 shares of the firm's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $315.57, for a total transaction of $315,570.00. Following the sale, the executive vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 on Thursday, April 23rd. The shares were sold at an average price of $235.00, for a total value of $1,242,915.00. Following the completion of the transaction, the executive vice president owned 2,020 shares of the company's stock, valued at $474,700. The trade was a 72.36% 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. Insiders have sold 12,611 shares of company stock worth $3,182,068 over the last quarter. 0.05% of the stock is currently owned by insiders.

NXP Semiconductors Stock Performance

NXPI opened at $281.03 on Wednesday. NXP Semiconductors N.V. has a 1-year low of $183.00 and a 1-year high of $339.95. The stock has a market cap of $70.95 billion, a P/E ratio of 26.89, a P/E/G ratio of 1.00 and a beta of 1.77. The stock's 50 day simple moving average is $293.52 and its 200 day simple moving average is $245.88. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.24 and a quick ratio of 1.55.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The semiconductor provider reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.07. NXP Semiconductors had a net margin of 21.03% and a return on equity of 26.75%. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the firm posted $2.64 earnings per share. The company's quarterly revenue was up 12.2% compared to the same quarter last year. As a group, equities analysts anticipate that NXP Semiconductors N.V. will post 13.4 EPS for the current fiscal year.

NXP Semiconductors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 24th will be paid a dividend of $1.014 per share. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, June 24th. NXP Semiconductors's dividend payout ratio is currently 38.85%.

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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