CenterBook Partners LP acquired a new stake in NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,648 shares of the semiconductor provider's stock, valued at approximately $1,579,000.
A number of other institutional investors and hedge funds also recently modified their holdings of NXPI. Allied Private Wealth LLC bought a new position in NXP Semiconductors in the second quarter worth about $28,000. Bell Investment Advisors Inc bought a new stake in shares of NXP Semiconductors during the second quarter valued at about $29,000. Fiduciary Financial Advisors bought a new stake in shares of NXP Semiconductors during the 2nd quarter worth about $28,000. Fortitude Family Office LLC acquired a new position in shares of NXP Semiconductors during the 3rd quarter valued at $26,000. Finally, Balance Wealth Partners LLC bought a new stake in shares of NXP Semiconductors in the 3rd quarter worth $29,000. 90.54% of the stock is owned by institutional investors and hedge funds.
Insider Activity at NXP Semiconductors
In other NXP Semiconductors news, Director Anthony R. Foxx sold 400 shares of the company's stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $263.60, for a total transaction of $105,440.00. Following the completion of the sale, the director directly owned 2,942 shares in the company, valued at $775,511.20. This represents a 11.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christopher L. Jensen sold 3,355 shares of the firm's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $240.00, for a total value of $805,200.00. Following the completion of the sale, the executive vice president directly owned 288 shares in the company, valued at approximately $69,120. This represents a 92.09% 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. In the last three months, insiders have sold 4,755 shares of company stock worth $1,136,680. 0.05% of the stock is owned by insiders.
Analyst Ratings Changes
NXPI has been the topic of a number of research analyst reports. Oppenheimer lifted their target price on NXP Semiconductors from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Sanford C. Bernstein reissued a "market perform" rating and set a $290.00 target price (up from $270.00) on shares of NXP Semiconductors in a research note on Wednesday, July 29th. Morgan Stanley dropped their price target on NXP Semiconductors from $338.00 to $313.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 28th. Needham & Company LLC restated a "buy" rating and issued a $300.00 target price on shares of NXP Semiconductors in a report on Wednesday, October 28th. Finally, Jefferies Financial Group reduced their price target on shares of NXP Semiconductors from $370.00 to $350.00 and set a "buy" rating for the company in a research report on Wednesday, October 28th. Sixteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $295.78.
View Our Latest Report on NXP Semiconductors
NXP Semiconductors Stock Up 3.3%
NXPI opened at $256.42 on Tuesday. NXP Semiconductors N.V. has a twelve month low of $183.00 and a twelve month high of $339.95. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.47 and a current ratio of 2.12. The business has a 50 day moving average price of $236.75 and a 200 day moving average price of $246.66. The firm has a market cap of $64.63 billion, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 0.90 and a beta of 1.83.
NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The semiconductor provider reported $4.20 EPS for the quarter, beating analysts' consensus estimates of $4.12 by $0.08. NXP Semiconductors had a net margin of 23.40% and a return on equity of 28.57%. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter last year, the firm posted $3.11 earnings per share. The company's quarterly revenue was up 19.3% compared to the same quarter last year. Research analysts forecast that NXP Semiconductors N.V. will post 13.81 EPS for the current year.
NXP Semiconductors announced that its board has authorized a stock buyback plan on Tuesday, October 27th that authorizes the company to repurchase $5 billion in outstanding shares. This repurchase authorization authorizes the semiconductor provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.
NXP Semiconductors Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Wednesday, September 16th were paid a $1.0140 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $4.06 dividend on an annualized basis and a yield of 1.6%. NXP Semiconductors's dividend payout ratio (DPR) is presently 31.92%.
About NXP Semiconductors
(
Free Report)
NXP Semiconductors is a global semiconductor company headquartered in Eindhoven, the Netherlands. It develops and supplies chips and related technologies for automotive, industrial and Internet of Things, mobile, and communications infrastructure applications.
Its products include microcontrollers and processors, analog and mixed-signal components, connectivity solutions, and security technologies. In the automotive sector, NXP supplies technologies used in vehicle networking, radar, and safety systems; its other offerings support applications such as secure identification and near-field communication.
The company traces its origins to Philips' semiconductor business, which became an independent company in 2006.
See Also
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