Nemes Rush Group LLC Purchases 47,218 Shares of NXP Semiconductors N.V. $NXPI

Key Points

• Nemes Rush Group LLC initiated a position in NXP Semiconductors, purchasing 47,218 shares valued at approximately $11.2 million in the third quarter. Institutional investors collectively own 90.54% of the company.
• NXP reported quarterly EPS of $4.20 and revenue of $3.79 billion, topping analyst estimates; revenue rose 19.3% year over year.
• The board authorized a $5 billion share repurchase program. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $295.78.

Nemes Rush Group LLC purchased a new position in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 47,218 shares of the semiconductor provider's stock, valued at approximately $11,216,000.

Several other institutional investors also recently modified their holdings of NXPI. Alpha Family Trust bought a new stake in NXP Semiconductors in the third quarter valued at approximately $271,000. Kestra Investment Management LLC acquired a new stake in NXP Semiconductors during the 3rd quarter valued at approximately $253,000. AlphaCore Capital LLC bought a new position in NXP Semiconductors during the 3rd quarter worth approximately $1,175,000. Leuthold Group LLC bought a new position in NXP Semiconductors during the 3rd quarter worth approximately $853,000. Finally, Retirement Systems of Alabama acquired a new position in shares of NXP Semiconductors in the 3rd quarter worth approximately $52,256,000. Institutional investors own 90.54% of the company's stock.

Analyst Ratings Changes

NXPI has been the subject of several recent analyst reports. Wells Fargo & Company lifted their target price on shares of NXP Semiconductors from $235.00 to $245.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 28th. Wall Street Zen cut shares of NXP Semiconductors from a "buy" rating to a "hold" rating in a research report on Saturday, October 17th. Jefferies Financial Group cut their price target on shares of NXP Semiconductors from $370.00 to $350.00 and set a "buy" rating on the stock in a research report on Wednesday, October 28th. KeyCorp decreased their price target on NXP Semiconductors from $345.00 to $330.00 and set an "overweight" rating for the company in a report on Wednesday, October 28th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of NXP Semiconductors in a research report on Thursday, October 29th. Sixteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $295.78.

NXP Semiconductors Stock Performance

Shares of NXPI stock opened at $256.42 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.12 and a quick ratio of 1.47. The firm has a 50-day moving average of $236.75 and a 200-day moving average of $246.66. NXP Semiconductors N.V. has a one year low of $183.00 and a one year high of $339.95. The company has a market cap of $64.63 billion, a P/E ratio of 20.16, a P/E/G ratio of 0.90 and a beta of 1.83.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last posted its earnings results on Wednesday, October 28th. The semiconductor provider reported $4.20 EPS for the quarter, topping the consensus estimate of $4.12 by $0.08. NXP Semiconductors had a net margin of 23.40% and a return on equity of 28.57%. The firm had revenue of $3.79 billion for the quarter, compared to analysts' expectations of $3.76 billion. During the same quarter last year, the firm earned $3.11 EPS. The company's quarterly revenue was up 19.3% compared to the same quarter last year. Equities research analysts forecast that NXP Semiconductors N.V. will post 13.81 EPS for the current fiscal year.

NXP Semiconductors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Wednesday, September 16th were issued a dividend of $1.0140 per share. This represents a $4.06 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Wednesday, September 16th. NXP Semiconductors's dividend payout ratio (DPR) is 31.92%.

NXP Semiconductors announced that its Board of Directors has approved a stock repurchase program on Tuesday, October 27th that authorizes the company to buy back $5 billion in outstanding shares. This repurchase authorization authorizes the semiconductor provider to buy shares of its stock through open market purchases. Share repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Anthony R. Foxx sold 400 shares of NXP Semiconductors 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 directly owned 2,942 shares in the company, valued at $775,511.20. The trade was a 11.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Andrew Micallef sold 1,000 shares of NXP Semiconductors stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $226.04, for a total value of $226,040.00. Following the sale, the executive vice president owned 7,942 shares in the company, valued at $1,795,209.68. The trade was a 11.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 4,755 shares of company stock worth $1,136,680. 0.05% of the stock is owned by company insiders.

NXP Semiconductors Profile

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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