Glenview Trust Co Purchases 12,512 Shares of NXP Semiconductors N.V. $NXPI

Key Points

• Glenview Trust Co increased its NXP Semiconductors stake by 15.2% in the first quarter, buying 12,512 shares and bringing its total holdings to 94,609 shares worth about $18.6 million.
• NXP Semiconductors reported better-than-expected quarterly results, with EPS of $3.05 versus $2.98 expected and revenue of $3.18 billion, up 12.2% year over year.
• Analysts remain generally constructive on the stock, with a Moderate Buy consensus rating and an average price target of $306.59, while several firms recently raised their targets.

Glenview Trust Co raised its position in NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 15.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,609 shares of the semiconductor provider's stock after buying an additional 12,512 shares during the period. Glenview Trust Co's holdings in NXP Semiconductors were worth $18,625,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of NXP Semiconductors in the 4th quarter worth approximately $613,029,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in NXP Semiconductors by 34,719.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,680,395 shares of the semiconductor provider's stock worth $581,807,000 after acquiring an additional 2,672,697 shares during the last quarter. Invesco Ltd. increased its holdings in NXP Semiconductors by 17.2% during the 4th quarter. Invesco Ltd. now owns 5,574,672 shares of the semiconductor provider's stock valued at $1,210,038,000 after purchasing an additional 818,985 shares in the last quarter. Amundi increased its holdings in NXP Semiconductors by 46.6% during the 4th quarter. Amundi now owns 2,203,488 shares of the semiconductor provider's stock valued at $478,270,000 after purchasing an additional 700,753 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its position in NXP Semiconductors by 56.3% in the 2nd quarter. Rafferty Asset Management LLC now owns 1,916,922 shares of the semiconductor provider's stock valued at $418,828,000 after purchasing an additional 690,277 shares during the last quarter. 90.54% of the stock is owned by institutional investors.

NXP Semiconductors Stock Performance

NXP Semiconductors stock opened at $267.18 on Tuesday. The company has a current ratio of 2.24, a quick ratio of 1.55 and a debt-to-equity ratio of 1.00. NXP Semiconductors N.V. has a 1 year low of $183.00 and a 1 year high of $339.95. The company has a market cap of $67.45 billion, a PE ratio of 25.57, a PEG ratio of 0.96 and a beta of 1.79. The company's 50-day moving average is $297.48 and its two-hundred day moving average is $251.02.

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 (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.07. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates 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 for the quarter was up 12.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.64 EPS. Equities analysts anticipate that NXP Semiconductors N.V. will post 13.49 earnings per share for the current year.

NXP Semiconductors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Wednesday, June 24th were issued a dividend of $1.014 per share. This represents a $4.06 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Wednesday, June 24th. NXP Semiconductors's payout ratio is currently 38.85%.

Insiders Place Their Bets

In other news, EVP Christopher L. Jensen sold 1,746 shares of the firm's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $316.53, for a total value of $552,661.38. Following the transaction, the executive vice president directly owned 3,643 shares in the company, valued at $1,153,118.79. This trade represents a 32.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Hardy sold 5,289 shares of NXP Semiconductors stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $235.00, for a total value of $1,242,915.00. Following the sale, the executive vice president directly owned 2,020 shares of the company's stock, valued at approximately $474,700. This trade represents a 72.36% 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. In the last 90 days, insiders sold 12,611 shares of company stock valued at $3,182,068. Company insiders own 0.05% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Stifel Nicolaus increased their target price on NXP Semiconductors from $215.00 to $250.00 and gave the stock a "hold" rating in a report on Friday, April 24th. Susquehanna lifted their price target on NXP Semiconductors from $210.00 to $250.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Loop Capital upped their price target on shares of NXP Semiconductors from $275.00 to $290.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Morgan Stanley increased their price objective on shares of NXP Semiconductors from $299.00 to $335.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. Finally, Evercore raised their price objective on shares of NXP Semiconductors from $260.00 to $320.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $306.59.

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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