Geode Capital Management LLC Grows Stock Holdings in NXP Semiconductors N.V. $NXPI

Key Points

• Geode Capital Management increased its NXP Semiconductors stake by 0.6% in the fourth quarter, bringing its holdings to 5.46 million shares worth about $1.18 billion.
• Several analysts raised their price targets on NXPI, and the stock now carries a “Moderate Buy” consensus rating with an average target price of $294.25.
• NXP reported better-than-expected quarterly results, with EPS of $3.05 and revenue of $3.18 billion, while insiders also sold shares under pre-arranged trading plans.

Geode Capital Management LLC raised its position in NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,463,756 shares of the semiconductor provider's stock after acquiring an additional 30,804 shares during the quarter. Geode Capital Management LLC owned approximately 2.17% of NXP Semiconductors worth $1,180,572,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. MGO One Seven LLC increased its position in shares of NXP Semiconductors by 63.0% in the fourth quarter. MGO One Seven LLC now owns 13,870 shares of the semiconductor provider's stock valued at $3,011,000 after acquiring an additional 5,359 shares during the period. Teacher Retirement System of Texas increased its position in shares of NXP Semiconductors by 16.4% in the fourth quarter. Teacher Retirement System of Texas now owns 45,366 shares of the semiconductor provider's stock valued at $9,847,000 after acquiring an additional 6,379 shares during the period. ING Groep NV increased its position in shares of NXP Semiconductors by 27.5% in the third quarter. ING Groep NV now owns 104,850 shares of the semiconductor provider's stock valued at $23,877,000 after acquiring an additional 22,631 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of NXP Semiconductors by 21.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,227,516 shares of the semiconductor provider's stock valued at $507,241,000 after purchasing an additional 398,250 shares in the last quarter. Finally, Cibc World Market Inc. boosted its stake in shares of NXP Semiconductors by 293.6% during the 3rd quarter. Cibc World Market Inc. now owns 38,543 shares of the semiconductor provider's stock valued at $8,777,000 after purchasing an additional 28,751 shares in the last quarter. Hedge funds and other institutional investors own 90.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NXPI. Stifel Nicolaus lifted their target price on shares of NXP Semiconductors from $215.00 to $250.00 and gave the company a "hold" rating in a research note on Friday, April 24th. Wolfe Research lifted their target price on shares of NXP Semiconductors from $270.00 to $320.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Wells Fargo & Company lifted their target price on shares of NXP Semiconductors from $235.00 to $265.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. lifted their target price on shares of NXP Semiconductors from $250.00 to $295.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. Finally, TD Cowen lifted their target price on shares of NXP Semiconductors from $250.00 to $310.00 and gave the company 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 company's stock. According to data from MarketBeat, NXP Semiconductors currently has an average rating of "Moderate Buy" and a consensus price target of $294.25.

Insiders Place Their Bets

In other NXP Semiconductors news, EVP Andrew Hardy sold 5,289 shares of the company's stock in a transaction dated 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 sale, the executive vice president owned 2,020 shares in the company, valued at approximately $474,700. This represents a 72.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher L. Jensen sold 4,576 shares of the company's stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $234.03, for a total transaction of $1,070,921.28. Following the completion of the sale, 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 10,865 shares of company stock worth $2,508,416. 0.12% of the stock is currently owned by company insiders.

NXP Semiconductors Price Performance

Shares of NXPI opened at $321.35 on Friday. The stock has a market cap of $81.13 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 1.19 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 N.V. has a fifty-two week low of $183.00 and a fifty-two week high of $339.95. The firm's 50-day simple moving average is $248.13 and its two-hundred day simple moving average is $230.47.

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 for the quarter, topping analysts' consensus estimates of $2.98 by $0.07. The business had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.14 billion. NXP Semiconductors had a net margin of 21.03% and a return on equity of 26.75%. The business's revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.64 earnings per share. Analysts anticipate that NXP Semiconductors N.V. will post 13.38 earnings per share for the current fiscal year.

NXP Semiconductors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Wednesday, March 25th were issued a $1.014 dividend. This represents a $4.06 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Wednesday, March 25th. NXP Semiconductors's dividend payout ratio is 38.85%.

NXP Semiconductors 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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