Factory Mutual Insurance Co. Sells 23,050 Shares of NXP Semiconductors N.V. $NXPI

Key Points

• Factory Mutual Insurance Co. cut its NXP Semiconductors stake by 80.5% in the third quarter, selling 23,050 shares and retaining 5,600 shares valued at about $1.33 million.
• NXP beat quarterly expectations, reporting EPS of $4.20 and revenue of $3.79 billion; revenue grew 19.3% year over year. The company also authorized a $5 billion share repurchase program.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $295.78. Institutional investors own 90.54% of the stock.

Factory Mutual Insurance Co. lowered its position in NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 80.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,600 shares of the semiconductor provider's stock after selling 23,050 shares during the period. Factory Mutual Insurance Co.'s holdings in NXP Semiconductors were worth $1,330,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in NXPI. Farther Finance Advisors LLC purchased a new stake in NXP Semiconductors in the 3rd quarter worth approximately $1,126,000. Ieq Capital LLC acquired a new stake in shares of NXP Semiconductors during the 2nd quarter worth approximately $1,208,000. BlackRock Inc. purchased a new position in shares of NXP Semiconductors during the 2nd quarter valued at approximately $6,716,412,000. The Manufacturers Life Insurance Company purchased a new position in shares of NXP Semiconductors during the 2nd quarter valued at approximately $36,657,000. Finally, Pure Financial Advisors LLC acquired a new position in shares of NXP Semiconductors in the 2nd quarter valued at $695,000. 90.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Andrew Micallef sold 1,000 shares of NXP Semiconductors stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $226.04, for a total value of $226,040.00. Following the sale, the executive vice president directly owned 7,942 shares of the company's stock, valued at $1,795,209.68. The trade was a 11.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher L. Jensen sold 3,355 shares of the business's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $240.00, for a total value of $805,200.00. Following the sale, the executive vice president owned 288 shares of the company's stock, valued at $69,120. The trade was 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. 0.05% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of NXP Semiconductors in a report on Thursday, October 29th. Wells Fargo & Company upped their price objective on shares of NXP Semiconductors from $235.00 to $245.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 28th. 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. Wall Street Zen lowered shares of NXP Semiconductors from a "buy" rating to a "hold" rating in a research note on Saturday, October 17th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $300.00 price target on shares of NXP Semiconductors in a report on Wednesday, October 28th. Sixteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $295.78.

NXP Semiconductors Stock Performance

NASDAQ:NXPI opened at $265.01 on Thursday. 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 company has a fifty day moving average of $235.22 and a two-hundred day moving average of $246.42. The stock has a market capitalization of $66.80 billion, a PE ratio of 20.82, a P/E/G ratio of 0.89 and a beta of 1.83. NXP Semiconductors N.V. has a fifty-two week low of $183.00 and a fifty-two week high of $339.95.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last announced its earnings results on Tuesday, October 27th. The semiconductor provider reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.12 by $0.08. NXP Semiconductors had a net margin of 23.40% and a return on equity of 28.57%. The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter last year, the business earned $3.11 earnings per share. The company's revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, research analysts forecast that NXP Semiconductors N.V. will post 13.81 earnings per share for the current fiscal year.

NXP Semiconductors announced that its Board of Directors has initiated a stock repurchase program on Tuesday, October 27th that allows the company to buy back $5 billion in outstanding shares. This buyback authorization allows the semiconductor provider to reacquire shares of its stock through open market purchases. Share buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

NXP Semiconductors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Wednesday, September 16th were issued a dividend of $1.0140 per share. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.5%. NXP Semiconductors's dividend payout ratio is presently 31.92%.

NXP Semiconductors Company Profile

NXP Semiconductors N.V. is a global semiconductor company that develops technologies for automotive, industrial, communications infrastructure, mobile, and Internet of Things applications. The company provides processing, connectivity, security, sensing, and power-management solutions that help enable connected and automated systems.

Its product portfolio includes microcontrollers and application processors, automotive networking and radar solutions, secure identification and authentication technologies, near-field communication products, radio-frequency power amplifiers, analog and mixed-signal devices, and wireless connectivity solutions.

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