Concentric Capital Strategies LP Takes Position in NXP Semiconductors N.V. $NXPI

Key Points

• Concentric Capital Strategies LP initiated a new position in NXP Semiconductors during the fourth quarter, buying 92,325 shares valued at about $20.0 million. The stake represents roughly 1% of the fund’s portfolio and its 13th-largest holding.
• Wall Street sentiment remains positive, with several analysts lifting price targets and the stock carrying a Moderate Buy consensus rating. The average target price is $295.92, while recent targets from firms like Cantor Fitzgerald, Truist, KeyCorp, and Wells Fargo have been raised.
• NXP recently beat quarterly earnings expectations, reporting $3.05 EPS on $3.18 billion in revenue, and it also announced a quarterly dividend of $1.014 per share. However, some executives have sold shares in recent months, including EVP Andrew Micallef and EVP Andrew Hardy.

Concentric Capital Strategies LP bought a new stake in NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 92,325 shares of the semiconductor provider's stock, valued at approximately $20,040,000. NXP Semiconductors makes up approximately 1.0% of Concentric Capital Strategies LP's investment portfolio, making the stock its 13th biggest position.

A number of other large investors also recently modified their holdings of the stock. Asset One Wealth Management LLC bought a new position in shares of NXP Semiconductors in the fourth quarter valued at approximately $3,402,000. Ardsley Advisory Partners LP bought a new position in shares of NXP Semiconductors in the fourth quarter valued at approximately $3,147,000. Align Financial LLC bought a new position in shares of NXP Semiconductors in the fourth quarter valued at approximately $15,548,000. American Trust Investment Advisors LLC lifted its holdings in shares of NXP Semiconductors by 3.7% in the fourth quarter. American Trust Investment Advisors LLC now owns 19,263 shares of the semiconductor provider's stock valued at $4,181,000 after purchasing an additional 688 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its holdings in shares of NXP Semiconductors by 72.6% in the fourth quarter. Guggenheim Capital LLC now owns 19,740 shares of the semiconductor provider's stock valued at $4,285,000 after purchasing an additional 8,305 shares in the last quarter. Institutional investors own 90.54% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Cantor Fitzgerald raised their target price on NXP Semiconductors from $380.00 to $400.00 and gave the company an "overweight" rating in a report on Wednesday, May 13th. Truist Financial raised their target price on NXP Semiconductors from $255.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. KeyCorp raised their target price on NXP Semiconductors from $300.00 to $345.00 and gave the company an "overweight" rating in a report on Wednesday, April 29th. Weiss Ratings upgraded NXP Semiconductors from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 4th. Finally, Wells Fargo & Company lifted their price target on NXP Semiconductors from $265.00 to $305.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $295.92.

NXP Semiconductors Stock Down 1.5%

NXPI stock opened at $298.20 on Thursday. The stock has a fifty day moving average of $277.29 and a 200-day moving average of $240.95. NXP Semiconductors N.V. has a fifty-two week low of $183.00 and a fifty-two week high of $339.95. The company has a market capitalization of $75.29 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 1.09 and a beta of 1.77. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.55 and a current ratio of 2.24.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The semiconductor provider reported $3.05 EPS for the quarter, beating the consensus estimate 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 net margin of 21.03% and a return on equity of 26.75%. The company's revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.64 earnings per share. As a group, equities research analysts predict that NXP Semiconductors N.V. will post 13.38 earnings per share for the current year.

NXP Semiconductors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors 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 is Wednesday, June 24th. NXP Semiconductors's dividend payout ratio is presently 38.85%.

Insider Buying and Selling

In related news, EVP Andrew Micallef sold 1,000 shares of NXP Semiconductors stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $315.57, for a total value of $315,570.00. Following the completion of the transaction, the executive vice president directly owned 8,942 shares in the company, valued at approximately $2,821,826.94. The trade was a 10.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 business's stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $235.00, for a total transaction of $1,242,915.00. Following the sale, the executive vice president directly owned 2,020 shares in the company, valued at $474,700. The trade was a 72.36% decrease in their position. 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 ninety days, insiders sold 12,611 shares of company stock valued at $3,182,068. Company insiders own 0.05% of the company's stock.

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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