Hohimer Wealth Management LLC Makes New $4.53 Million Investment in NXP Semiconductors N.V. $NXPI

Key Points

• Hohimer Wealth Management opened a $4.53 million position in NXP Semiconductors, acquiring 19,065 shares in the third quarter. Institutional investors collectively own 90.54% of the company’s stock.
• NXP beat quarterly expectations, reporting earnings per share of $4.20 versus estimates of $4.12 and revenue of $3.79 billion; revenue rose 19.3% year over year.
• The board authorized a $5 billion share repurchase plan. Analysts’ average rating is “Moderate Buy,” with an average price target of $295.78.

Hohimer Wealth Management LLC acquired a new position in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 19,065 shares of the semiconductor provider's stock, valued at approximately $4,528,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Allied Private Wealth LLC purchased a new position in NXP Semiconductors during the second quarter worth about $28,000. Bell Investment Advisors Inc acquired a new stake in shares of NXP Semiconductors during the second quarter valued at about $29,000. Fiduciary Financial Advisors acquired a new stake in shares of NXP Semiconductors during the second quarter valued at about $28,000. Fortitude Family Office LLC purchased a new stake in shares of NXP Semiconductors in the 3rd quarter valued at approximately $26,000. Finally, Balance Wealth Partners LLC purchased a new stake in shares of NXP Semiconductors in the 3rd quarter valued at approximately $29,000. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

NXP Semiconductors Price Performance

Shares of NXPI opened at $248.29 on Monday. The company's 50-day simple moving average is $236.09 and its 200-day simple moving average is $246.54. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.47 and a current ratio of 2.12. NXP Semiconductors N.V. has a 1 year low of $183.00 and a 1 year high of $339.95. The stock has a market capitalization of $62.58 billion, a PE ratio of 19.52, a P/E/G ratio of 0.84 and a beta of 1.83.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The semiconductor provider reported $4.20 earnings per share for the quarter, beating analysts' consensus estimates of $4.12 by $0.08. The firm had revenue of $3.79 billion during the quarter, compared to analysts' expectations of $3.76 billion. NXP Semiconductors had a net margin of 23.40% and a return on equity of 28.57%. The business's quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.11 earnings per share. Analysts forecast that NXP Semiconductors N.V. will post 13.81 earnings per share for the current fiscal year.

NXP Semiconductors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Wednesday, September 16th were paid a $1.0140 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $4.06 annualized dividend and a dividend yield of 1.6%. NXP Semiconductors's payout ratio is 31.84%.

NXP Semiconductors announced that its board has initiated a share repurchase plan on Tuesday, October 27th that authorizes the company to buy back $5 billion in outstanding shares. This repurchase authorization authorizes the semiconductor provider to purchase shares of its stock through open market purchases. Share repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NXPI. Cantor Fitzgerald restated an "overweight" rating and issued a $400.00 price objective on shares of NXP Semiconductors in a report on Monday, October 26th. Wells Fargo & Company lifted their target price on shares of NXP Semiconductors from $235.00 to $245.00 and gave the company an "equal weight" rating in a report on Wednesday, October 28th. Citigroup cut their target price on NXP Semiconductors from $260.00 to $250.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 28th. Morgan Stanley decreased their price target on NXP Semiconductors from $338.00 to $313.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 28th. Finally, Bank of America restated a "neutral" rating and set a $280.00 price target on shares of NXP Semiconductors in a research note on Wednesday, October 28th. Sixteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, NXP Semiconductors has an average rating of "Moderate Buy" and an average price target of $295.78.

Insider Transactions at NXP Semiconductors

In other news, Director Anthony Foxx sold 400 shares of the company's stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $263.60, for a total transaction of $105,440.00. Following the sale, the director owned 2,942 shares of the company's stock, valued at approximately $775,511.20. This represents a 11.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew Micallef sold 1,000 shares of the stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $226.04, for a total value of $226,040.00. Following the completion of the sale, the executive vice president owned 7,942 shares in the company, valued at approximately $1,795,209.68. The trade was a 11.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 4,755 shares of company stock valued at $1,136,680. 0.05% of the stock is currently owned by company insiders.

About NXP Semiconductors

NXP Semiconductors is a global semiconductor company headquartered in Eindhoven, the Netherlands. It develops and supplies chips and related technologies for automotive, industrial and Internet of Things, mobile, and communications infrastructure applications.

Its products include microcontrollers and processors, analog and mixed-signal components, connectivity solutions, and security technologies. In the automotive sector, NXP supplies technologies used in vehicle networking, radar, and safety systems; its other offerings support applications such as secure identification and near-field communication.

The company traces its origins to Philips' semiconductor business, which became an independent company in 2006.

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