Munich Reinsurance Co Stock Corp in Munich Grows Holdings in NXP Semiconductors N.V. $NXPI

Key Points

• Munich Reinsurance Co increased its NXP Semiconductors stake by 7.3% in the first quarter, holding 321,264 shares worth about $63.2 million at quarter-end.
• Wall Street remains constructive on NXPI, with analysts assigning a consensus “Moderate Buy” rating and an average price target of $301.13. Several firms recently raised targets, including Barclays to $340 and Oppenheimer and Jefferies to $300.
• NXP posted solid quarterly results, beating EPS estimates with $3.05 per share and reporting revenue of $3.18 billion, up 12.2% year over year. The company also announced a quarterly dividend of $1.014 per share, yielding about 1.4% annually.

Munich Reinsurance Co Stock Corp in Munich grew its position in NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 7.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 321,264 shares of the semiconductor provider's stock after acquiring an additional 21,828 shares during the period. NXP Semiconductors comprises approximately 1.6% of Munich Reinsurance Co Stock Corp in Munich's investment portfolio, making the stock its 23rd biggest position. Munich Reinsurance Co Stock Corp in Munich owned approximately 0.13% of NXP Semiconductors worth $63,244,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of NXP Semiconductors by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 13,612,546 shares of the semiconductor provider's stock valued at $2,954,739,000 after buying an additional 293,558 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of NXP Semiconductors by 11.9% during the 3rd quarter. Wellington Management Group LLP now owns 12,583,718 shares of the semiconductor provider's stock valued at $2,865,690,000 after buying an additional 1,333,920 shares in the last quarter. State Street Corp lifted its position in shares of NXP Semiconductors by 0.5% during the 4th quarter. State Street Corp now owns 11,043,159 shares of the semiconductor provider's stock valued at $2,407,382,000 after buying an additional 55,098 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in NXP Semiconductors by 1.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,849,741 shares of the semiconductor provider's stock valued at $1,703,865,000 after acquiring an additional 121,419 shares during the period. Finally, Invesco Ltd. grew its stake in NXP Semiconductors by 17.2% in the 4th quarter. Invesco Ltd. now owns 5,574,672 shares of the semiconductor provider's stock valued at $1,210,038,000 after acquiring an additional 818,985 shares during the period. 90.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NXPI. Wells Fargo & Company upped their price objective on shares of NXP Semiconductors from $265.00 to $305.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 9th. Weiss Ratings upgraded shares of NXP Semiconductors from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, May 4th. Oppenheimer boosted their target price on shares of NXP Semiconductors from $250.00 to $300.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Barclays upped their price target on shares of NXP Semiconductors from $295.00 to $340.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. Finally, Jefferies Financial Group lifted their price objective on NXP Semiconductors from $265.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $301.13.

NXP Semiconductors Price Performance

NXP Semiconductors stock opened at $283.81 on Thursday. The company has a fifty day simple moving average of $298.92 and a 200-day simple moving average of $247.96. The firm has a market capitalization of $71.65 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 0.99 and a beta of 1.79. The company has a quick ratio of 1.55, a current ratio of 2.24 and a debt-to-equity ratio of 1.00. NXP Semiconductors N.V. has a 52-week low of $183.00 and a 52-week high of $339.95.

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 for the quarter, topping the consensus estimate of $2.98 by $0.07. NXP Semiconductors had a net margin of 21.03% and a return on equity of 26.75%. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period last year, the firm posted $2.64 earnings per share. The company's revenue for the quarter was up 12.2% on a year-over-year basis. On average, equities analysts anticipate that NXP Semiconductors N.V. will post 13.4 EPS for the current fiscal year.

NXP Semiconductors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 24th will be paid a dividend of $1.014 per share. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $4.06 dividend on an annualized basis and a yield of 1.4%. NXP Semiconductors's payout ratio is 38.85%.

Insiders Place Their Bets

In other NXP Semiconductors news, EVP Andrew Micallef sold 1,000 shares of the company's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $315.57, for a total value of $315,570.00. Following the completion of the sale, the executive vice president directly owned 8,942 shares in the company, valued at $2,821,826.94. This represents a 10.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher L. Jensen sold 4,576 shares of the firm's stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $234.03, for a total value of $1,070,921.28. Following the completion of the sale, the executive vice president directly owned 5,389 shares of the company's stock, valued at $1,261,187.67. This trade represents a 45.92% 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 12,611 shares of company stock valued at $3,182,068. Insiders own 0.05% of the company's stock.

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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