Harvest Fund Management Co. Ltd Acquires 3,318 Shares of NXP Semiconductors N.V. $NXPI

Key Points

• Harvest Fund Management increased its NXP Semiconductors stake by 21.4% in the fourth quarter, buying 3,318 more shares and bringing its total to 18,800 shares worth about $4.1 million.
• NXP reported strong quarterly results, with EPS of $3.05 beating estimates and revenue of $3.18 billion also topping forecasts; revenue rose 12.2% year over year.
• The stock has attracted broad institutional interest, with 90.54% owned by institutions, while analysts currently rate NXPI a consensus Moderate Buy with a $294.25 price target.

Harvest Fund Management Co. Ltd increased its holdings in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 21.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,800 shares of the semiconductor provider's stock after purchasing an additional 3,318 shares during the period. Harvest Fund Management Co. Ltd's holdings in NXP Semiconductors were worth $4,077,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. MGO One Seven LLC boosted its stake in 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 in the last quarter. Teacher Retirement System of Texas boosted its stake in 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 in the last quarter. ING Groep NV boosted its stake in 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in NXP Semiconductors by 21.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,227,516 shares of the semiconductor provider's stock valued at $507,241,000 after acquiring an additional 398,250 shares in the last quarter. Finally, Cibc World Market Inc. boosted its stake in NXP Semiconductors by 293.6% in the third quarter. Cibc World Market Inc. now owns 38,543 shares of the semiconductor provider's stock valued at $8,777,000 after acquiring an additional 28,751 shares in the last quarter. 90.54% of the stock is currently owned by institutional investors.

NXP Semiconductors Trading Up 0.1%

NASDAQ NXPI opened at $322.22 on Friday. The company has a fifty day simple moving average of $258.24 and a two-hundred day simple moving average of $233.98. The stock has a market cap of $81.35 billion, a P/E ratio of 30.83, a P/E/G ratio of 1.16 and a beta of 1.77. NXP Semiconductors N.V. has a 12-month low of $183.00 and a 12-month high of $339.95. 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 (NASDAQ:NXPI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The semiconductor provider reported $3.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.98 by $0.07. The business had revenue of $3.18 billion during 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 quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the company posted $2.64 earnings per share. On average, analysts forecast that NXP Semiconductors N.V. will post 13.38 earnings per share for the current year.

NXP Semiconductors Announces Dividend

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

Insiders Place Their Bets

In related news, EVP Andrew Hardy sold 5,289 shares of the firm's stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $235.00, for a total transaction of $1,242,915.00. Following the completion of the transaction, the executive vice president owned 2,020 shares of the company's stock, valued at $474,700. This trade represents a 72.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Micallef sold 1,000 shares of the firm's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $194.58, for a total transaction of $194,580.00. Following the transaction, the executive vice president directly owned 9,942 shares of the company's stock, valued at approximately $1,934,514.36. This trade represents a 9.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 12,611 shares of company stock valued at $3,061,078. Insiders own 0.05% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NXPI shares. Truist Financial raised their target price on shares of NXP Semiconductors from $255.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Wolfe Research raised 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. Mizuho raised their target price on shares of NXP Semiconductors from $188.00 to $200.00 and gave the company an "underperform" rating in a research note on Wednesday, April 29th. Cantor Fitzgerald raised their target price on shares of NXP Semiconductors from $380.00 to $400.00 and gave the company an "overweight" rating in a research note on Wednesday, May 13th. Finally, JPMorgan Chase & Co. raised 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. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $294.25.

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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