Legal & General Group Plc Makes New $518.40 Million Investment in NXP Semiconductors N.V. $NXPI

Key Points

• Legal & General Group acquired 1.84 million NXP Semiconductors shares worth approximately $518.4 million, representing a 0.73% stake. Institutional investors collectively own 90.54% of the company.
• Analysts maintain a “Moderate Buy” consensus, with 16 Buy, nine Hold, and one Sell rating and an average price target of $305.43.
• NXP exceeded quarterly expectations with adjusted EPS of $3.61 and revenue of $3.50 billion, while revenue increased 19.5% year over year. The company also pays an annualized dividend of $4.06 per share, yielding about 1.8%.

Legal & General Group Plc purchased a new stake in NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,844,658 shares of the semiconductor provider's stock, valued at approximately $518,404,000. Legal & General Group Plc owned 0.73% of NXP Semiconductors at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. MCF Advisors LLC grew its holdings in NXP Semiconductors by 25.3% in the 4th quarter. MCF Advisors LLC now owns 213 shares of the semiconductor provider's stock worth $46,000 after buying an additional 43 shares in the last quarter. Aptus Capital Advisors LLC increased its position in NXP Semiconductors by 1.3% in the 4th quarter. Aptus Capital Advisors LLC now owns 3,464 shares of the semiconductor provider's stock valued at $752,000 after acquiring an additional 43 shares during the period. Gamco Investors INC. ET AL raised its stake in NXP Semiconductors by 2.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 2,305 shares of the semiconductor provider's stock valued at $454,000 after acquiring an additional 45 shares in the last quarter. IHT Wealth Management LLC raised its stake in NXP Semiconductors by 4.6% during the 2nd quarter. IHT Wealth Management LLC now owns 1,193 shares of the semiconductor provider's stock valued at $261,000 after acquiring an additional 52 shares in the last quarter. Finally, Equitable Holdings Inc. boosted its position in NXP Semiconductors by 1.4% during the 4th quarter. Equitable Holdings Inc. now owns 3,813 shares of the semiconductor provider's stock worth $828,000 after acquiring an additional 54 shares during the period. Institutional investors own 90.54% of the company's stock.

Wall Street Analysts Forecast Growth

NXPI has been the subject of several recent analyst reports. TD Cowen decreased their price target on NXP Semiconductors from $340.00 to $290.00 and set a "buy" rating for the company in a research note on Wednesday, July 29th. Wolfe Research lifted their price objective 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. UBS Group reaffirmed a "neutral" rating and issued a $270.00 price objective (down from $305.00) on shares of NXP Semiconductors in a report on Monday, August 3rd. Susquehanna increased their target price on shares of NXP Semiconductors from $210.00 to $250.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of NXP Semiconductors in a research report on Wednesday, April 29th. Sixteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, NXP Semiconductors currently has a consensus rating of "Moderate Buy" and a consensus price target of $305.43.

Insider Transactions at NXP Semiconductors

In other NXP Semiconductors news, EVP Christopher L. Jensen sold 1,746 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $316.53, for a total value of $552,661.38. Following the sale, the executive vice president directly owned 3,643 shares in the company, valued at approximately $1,153,118.79. The trade was a 32.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 company's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $315.57, for a total transaction of $315,570.00. Following the completion of the sale, the executive vice president directly owned 8,942 shares of the company's stock, valued at $2,821,826.94. The trade was a 10.06% 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. 0.05% of the stock is owned by insiders.

NXP Semiconductors Stock Performance

NXPI opened at $222.44 on Tuesday. The business has a 50 day moving average price of $264.08 and a two-hundred day moving average price of $252.52. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.04 and a quick ratio of 1.36. The company has a market capitalization of $56.09 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 0.77 and a beta of 1.81. NXP Semiconductors N.V. has a 1-year low of $183.00 and a 1-year high of $339.95.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The semiconductor provider reported $3.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.09. NXP Semiconductors had a return on equity of 27.83% and a net margin of 22.56%.The company had revenue of $3.50 billion for the quarter, compared to analysts' expectations of $3.47 billion. During the same period last year, the firm earned $2.72 EPS. The firm's revenue for the quarter was up 19.5% on a year-over-year basis. Research analysts predict that NXP Semiconductors N.V. will post 13.73 EPS for the current fiscal year.

NXP Semiconductors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Investors 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 1.8%. The ex-dividend date of this dividend was Wednesday, June 24th. NXP Semiconductors's payout ratio is presently 34.56%.

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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