Franklin Resources Inc. Acquires 103,152 Shares of NXP Semiconductors N.V. $NXPI

Key Points

• Franklin Resources increased its NXP Semiconductors stake by 9.7% in the fourth quarter, buying 103,152 additional shares and bringing its total to 1,162,508 shares valued at about $252.3 million.
• NXP reported better-than-expected quarterly results, with EPS of $3.05 versus the $2.98 consensus and revenue of $3.18 billion, up 12.2% year over year.
• Analysts remain broadly positive on the stock, with multiple price-target increases and a consensus rating of Moderate Buy; the average target price is $295.92.

Franklin Resources Inc. grew its holdings in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 9.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,162,508 shares of the semiconductor provider's stock after buying an additional 103,152 shares during the period. Franklin Resources Inc. owned approximately 0.46% of NXP Semiconductors worth $252,334,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPL Wealth Management LLC bought a new position in shares of NXP Semiconductors during the 3rd quarter worth approximately $26,000. Wexford Capital LP bought a new position in shares of NXP Semiconductors during the 3rd quarter worth approximately $31,000. Kelleher Financial Advisors bought a new position in shares of NXP Semiconductors during the 3rd quarter worth approximately $31,000. Community Bank N.A. bought a new position in shares of NXP Semiconductors during the 3rd quarter worth approximately $37,000. Finally, CNB Bank boosted its holdings in shares of NXP Semiconductors by 48.8% during the 4th quarter. CNB Bank now owns 180 shares of the semiconductor provider's stock worth $39,000 after buying an additional 59 shares in the last quarter. 90.54% of the stock is currently owned by institutional investors.

NXP Semiconductors Price Performance

Shares of NASDAQ:NXPI opened at $297.41 on Wednesday. The company has a quick ratio of 1.55, a current ratio of 2.24 and a debt-to-equity ratio of 1.00. NXP Semiconductors N.V. has a twelve month low of $183.00 and a twelve month high of $339.95. The stock's 50 day moving average is $264.41 and its 200-day moving average is $236.27. The firm has a market capitalization of $75.09 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 1.09 and a beta of 1.77.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last issued its earnings results on Wednesday, April 29th. The semiconductor provider reported $3.05 earnings per share for the quarter, topping analysts' consensus estimates of $2.98 by $0.07. NXP Semiconductors had a return on equity of 26.75% and a net margin of 21.03%.The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the prior year, the firm earned $2.64 earnings per share. NXP Semiconductors's revenue for the quarter was up 12.2% on a year-over-year basis. Sell-side analysts forecast that NXP Semiconductors N.V. will post 13.38 EPS for the current fiscal year.

NXP Semiconductors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Wednesday, March 25th were given 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 was Wednesday, March 25th. NXP Semiconductors's dividend payout ratio is presently 38.85%.

Insider Transactions at NXP Semiconductors

In other NXP Semiconductors news, EVP Andrew Hardy sold 5,289 shares of the firm's stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $235.00, for a total transaction of $1,242,915.00. Following the transaction, the executive vice president directly owned 2,020 shares in the company, valued at approximately $474,700. This trade represents a 72.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher L. Jensen sold 4,576 shares of the firm's stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $234.03, for a total value of $1,070,921.28. Following the transaction, the executive vice president owned 5,389 shares in the company, valued at approximately $1,261,187.67. This trade represents a 45.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,611 shares of company stock valued at $3,061,078 over the last ninety days. 0.05% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NXPI shares. Loop Capital increased their price target on NXP Semiconductors from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Sanford C. Bernstein increased their price target on NXP Semiconductors from $240.00 to $270.00 and gave the stock a "market perform" rating in a report on Wednesday, April 29th. Truist Financial increased their price target on NXP Semiconductors from $255.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. The Goldman Sachs Group restated a "buy" rating on shares of NXP Semiconductors in a report on Wednesday, April 29th. Finally, Cantor Fitzgerald upped their target price on NXP Semiconductors from $380.00 to $400.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $295.92.

NXP Semiconductors Company Profile

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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