ING Groep NV Grows Holdings in NXP Semiconductors N.V. (NASDAQ:NXPI)

Key Points

• ING Groep NV significantly increased its stake in NXP Semiconductors by 262.8%, holding 140,501 shares valued at approximately $26.7 million after acquiring an additional 101,774 shares.
• NXP Semiconductors reported earnings of $2.72 per share, exceeding expectations, despite a 6.4% year-over-year decrease in revenue to $2.93 billion.
• Following multiple upgrades from analysts, NXP Semiconductors holds an average target price of $256.05 and a consensus rating of "Moderate Buy", with Citigroup setting a price target as high as $275.00.

ING Groep NV increased its stake in NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 262.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 140,501 shares of the semiconductor provider's stock after acquiring an additional 101,774 shares during the quarter. ING Groep NV owned approximately 0.06% of NXP Semiconductors worth $26,704,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NXPI. Valley National Advisers Inc. grew its position in shares of NXP Semiconductors by 118.9% in the first quarter. Valley National Advisers Inc. now owns 232 shares of the semiconductor provider's stock valued at $43,000 after purchasing an additional 126 shares in the last quarter. Ameriflex Group Inc. acquired a new position in NXP Semiconductors during the fourth quarter worth $44,000. Rossby Financial LCC purchased a new stake in NXP Semiconductors in the 1st quarter valued at $46,000. GoalVest Advisory LLC increased its stake in shares of NXP Semiconductors by 472.9% in the 1st quarter. GoalVest Advisory LLC now owns 275 shares of the semiconductor provider's stock worth $52,000 after acquiring an additional 227 shares during the last quarter. Finally, Cullen Frost Bankers Inc. raised its holdings in shares of NXP Semiconductors by 112.1% during the 1st quarter. Cullen Frost Bankers Inc. now owns 316 shares of the semiconductor provider's stock worth $60,000 after acquiring an additional 167 shares during the period. Hedge funds and other institutional investors own 90.54% of the company's stock.

Insider Buying and Selling at NXP Semiconductors

In other news, CFO William Betz sold 6,785 shares of NXP Semiconductors stock in a transaction on 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 transaction, the chief financial officer owned 1,520 shares of the company's stock, valued at $345,556.80. The trade was a 81.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 transaction of $2,100,360.00. Following the completion of the sale, the executive vice president owned 27,088 shares in the company, valued at $6,230,240. This represents a 25.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NXPI. Citigroup upped their price objective on shares of NXP Semiconductors from $210.00 to $275.00 and gave the company a "buy" rating in a report on Monday, July 7th. The Goldman Sachs Group began coverage on shares of NXP Semiconductors in a report on Thursday, July 10th. They issued a "buy" rating and a $276.00 price objective for the company. TD Cowen upped their price objective on shares of NXP Semiconductors from $185.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. KeyCorp upped their price objective on shares of NXP Semiconductors from $240.00 to $275.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Wells Fargo & Company upped their price objective on shares of NXP Semiconductors from $250.00 to $260.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, NXP Semiconductors has an average rating of "Moderate Buy" and an average target price of $256.05.

NXP Semiconductors Stock Performance

Shares of NXPI stock traded down $0.01 during mid-day trading on Thursday, hitting $205.91. The stock had a trading volume of 2,194,874 shares, compared to its average volume of 3,019,689. The firm has a market cap of $51.91 billion, a PE ratio of 24.54, a PEG ratio of 2.37 and a beta of 1.41. NXP Semiconductors N.V. has a fifty-two week low of $148.09 and a fifty-two week high of $259.74. The company's 50-day simple moving average is $217.63 and its 200-day simple moving average is $206.82. 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 (NASDAQ:NXPI - Get Free Report) last issued its earnings results on Monday, July 21st. The semiconductor provider reported $2.72 EPS for the quarter, topping the consensus estimate of $2.66 by $0.06. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.90 billion. NXP Semiconductors had a net margin of 17.72% and a return on equity of 27.99%. The business's revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.20 EPS. Sell-side analysts anticipate that NXP Semiconductors N.V. will post 10.28 earnings per share for the current year.

NXP Semiconductors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 25th were given a dividend of $1.014 per share. This represents a $4.06 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Wednesday, June 25th. NXP Semiconductors's payout ratio is presently 48.39%.

NXP Semiconductors Profile

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.