Light Street Capital Management LLC Takes Position in NXP Semiconductors N.V. $NXPI

Key Points

• Light Street Capital Management initiated a 23,003-share position in NXP Semiconductors worth approximately $6.5 million, representing about 0.7% of its portfolio. Institutional investors and hedge funds collectively own 90.54% of NXPI shares.
• Analysts maintain a generally positive outlook, with 16 Buy, nine Hold, and one Sell rating; the consensus is “Moderate Buy” with a price target of $305.43.
• NXP exceeded quarterly expectations with adjusted EPS of $3.61 and revenue of $3.50 billion, while revenue rose 19.5% year over year. The company also pays a quarterly dividend of $1.014 per share, equivalent to an annualized yield of about 1.8%.

Light Street Capital Management LLC 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 Form 13F filing with the Securities and Exchange Commission. The fund purchased 23,003 shares of the semiconductor provider's stock, valued at approximately $6,465,000. NXP Semiconductors accounts for about 0.7% of Light Street Capital Management LLC's holdings, making the stock its 24th biggest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MGO One Seven LLC lifted its holdings in NXP Semiconductors by 63.0% during the 4th quarter. MGO One Seven LLC now owns 13,870 shares of the semiconductor provider's stock worth $3,011,000 after buying an additional 5,359 shares during the period. Deutsche Bank AG increased its stake in shares of NXP Semiconductors by 5.1% in the 4th quarter. Deutsche Bank AG now owns 1,928,214 shares of the semiconductor provider's stock valued at $418,538,000 after acquiring an additional 93,316 shares in the last quarter. Barclays PLC raised its holdings in shares of NXP Semiconductors by 31.5% during the fourth quarter. Barclays PLC now owns 2,283,397 shares of the semiconductor provider's stock valued at $495,634,000 after purchasing an additional 546,790 shares during the period. Principal Financial Group Inc. grew its stake in shares of NXP Semiconductors by 3.3% in the 4th quarter. Principal Financial Group Inc. now owns 274,099 shares of the semiconductor provider's stock valued at $59,496,000 after buying an additional 8,676 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position in NXP Semiconductors by 6.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 132,275 shares of the semiconductor provider's stock valued at $28,712,000 after buying an additional 8,179 shares in the last quarter. 90.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Citigroup reaffirmed a "neutral" rating on shares of NXP Semiconductors in a research report on Monday, July 13th. The Goldman Sachs Group restated a "buy" rating on shares of NXP Semiconductors in a research note on Wednesday, April 29th. UBS Group reissued a "neutral" rating and issued a $270.00 price target (down from $305.00) on shares of NXP Semiconductors in a research report on Monday, August 3rd. BNP Paribas Exane lifted their price objective on shares of NXP Semiconductors from $270.00 to $310.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Finally, Susquehanna upped their target price on shares of NXP Semiconductors from $210.00 to $250.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. Sixteen investment 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $305.43.

Insider Activity

In related news, EVP Christopher L. Jensen sold 1,746 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $316.53, for a total transaction of $552,661.38. Following the transaction, the executive vice president directly owned 3,643 shares of the company's stock, valued at approximately $1,153,118.79. This trade represents a 32.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Micallef sold 1,000 shares of NXP Semiconductors stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $315.57, for a total transaction of $315,570.00. Following the transaction, the executive vice president directly owned 8,942 shares in the company, valued at $2,821,826.94. This trade represents a 10.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.05% of the company's stock.

NXP Semiconductors Stock Performance

Shares of NXPI stock opened at $223.15 on Thursday. The firm's 50 day moving average is $261.02 and its 200 day moving average is $252.51. The stock has a market capitalization of $56.27 billion, a P/E ratio of 19.04, a PEG ratio of 0.76 and a beta of 1.81. 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 2.04, a quick ratio of 1.36 and a debt-to-equity ratio of 0.88.

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

NXP Semiconductors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Wednesday, June 24th were given a dividend of $1.014 per share. The ex-dividend date was Wednesday, June 24th. This represents a $4.06 dividend on an annualized basis and a yield of 1.8%. NXP Semiconductors's dividend payout ratio (DPR) is presently 34.64%.

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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