NXP Semiconductors N.V. $NXPI Shares Sold by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd reduced its stake in NXP Semiconductors by 23.7%, selling 4,630 shares, bringing its total holdings to 14,873 shares worth approximately $2.83 million.
• NXP Semiconductors reported earnings of $2.72 per share, exceeding analysts' expectations of $2.66, while quarterly revenue totaled $2.93 billion, slightly above estimates.
• The company declared a quarterly dividend of $1.014 per share, with an annualized yield of 1.8% and a payout ratio of 48.39%.

Gulf International Bank UK Ltd lowered its position in NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 23.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,873 shares of the semiconductor provider's stock after selling 4,630 shares during the quarter. Gulf International Bank UK Ltd's holdings in NXP Semiconductors were worth $2,826,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. National Pension Service grew its holdings in shares of NXP Semiconductors by 7.8% in the first quarter. National Pension Service now owns 764,761 shares of the semiconductor provider's stock valued at $145,350,000 after purchasing an additional 55,105 shares during the period. Eagle Global Advisors LLC lifted its position in NXP Semiconductors by 57.2% in the first quarter. Eagle Global Advisors LLC now owns 9,368 shares of the semiconductor provider's stock valued at $1,780,000 after buying an additional 3,409 shares during the last quarter. Cove Private Wealth LLC acquired a new position in NXP Semiconductors in the first quarter valued at about $935,000. SouthState Corp lifted its position in NXP Semiconductors by 15.1% in the first quarter. SouthState Corp now owns 3,894 shares of the semiconductor provider's stock valued at $740,000 after buying an additional 511 shares during the last quarter. Finally, Nuveen LLC acquired a new position in NXP Semiconductors in the first quarter valued at about $219,878,000. Hedge funds and other institutional investors own 90.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. UBS Group increased their price target on shares of NXP Semiconductors from $250.00 to $276.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Citigroup increased their price target on shares of NXP Semiconductors from $210.00 to $275.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. TD Cowen increased their price target on shares of NXP Semiconductors from $185.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. increased their price target on shares of NXP Semiconductors from $205.00 to $240.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Needham & Company LLC increased their price target on shares of NXP Semiconductors from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $256.05.

Insider Buying and Selling at NXP Semiconductors

In other news, CFO William Betz sold 6,785 shares of the business's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $227.34, for a total transaction of $1,542,501.90. Following the completion of the sale, the chief financial officer owned 1,520 shares in the company, valued at approximately $345,556.80. The trade was a 81.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jennifer Wuamett sold 9,132 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $230.00, for a total value of $2,100,360.00. Following the sale, the executive vice president owned 27,088 shares of the company's stock, valued at $6,230,240. The trade was a 25.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,917 shares of company stock worth $4,082,002 in the last 90 days. 0.12% of the stock is owned by company insiders.

NXP Semiconductors Price Performance

Shares of NASDAQ NXPI traded up $3.23 during trading on Monday, hitting $232.01. 2,469,746 shares of the company were exchanged, compared to its average volume of 3,025,016. The company has a market cap of $58.49 billion, a price-to-earnings ratio of 27.65, a PEG ratio of 2.59 and a beta of 1.41. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.74 and a quick ratio of 1.20. NXP Semiconductors N.V. has a 1 year low of $148.09 and a 1 year high of $259.74. The firm's fifty day moving average price is $220.17 and its 200 day moving average price is $206.89.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The semiconductor provider reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.06. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.90 billion. NXP Semiconductors had a return on equity of 27.99% and a net margin of 17.72%. The business's revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.20 EPS. On average, sell-side analysts expect that NXP Semiconductors N.V. will post 10.28 earnings per share for the current fiscal year.

NXP Semiconductors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 25th were issued a $1.014 dividend. The ex-dividend date was Wednesday, June 25th. This represents a $4.06 annualized dividend and a yield of 1.7%. NXP Semiconductors's payout ratio is 48.27%.

About NXP Semiconductors

NXP Semiconductors N.V. offers various semiconductor products. The company's product portfolio includes microcontrollers; application processors, including i.MX application processors, and i.MX 8 and 9 family of applications processors; communication processors; wireless connectivity solutions, such as near field communications, ultra-wideband, Bluetooth low-energy, Zigbee, and Wi-Fi and Wi-Fi/Bluetooth integrated SoCs; analog and interface devices; radio frequency power amplifiers; and security controllers, as well as semiconductor-based environmental and inertial sensors, including pressure, inertial, magnetic, and gyroscopic sensors.