Nikko Asset Management Americas Inc. Cuts Position in NXP Semiconductors N.V. (NASDAQ:NXPI)

Key Points

• Nikko Asset Management Americas Inc. reduced its stake in NXP Semiconductors by 6.8%, owning 31,822 shares valued at around $6.05 million after selling 2,305 shares in the first quarter.
• Other investors, such as Valley National Advisers Inc. and GoalVest Advisory LLC, made significant changes to their positions in NXP Semiconductors, with some increasing holdings by over 400%.
• NXP Semiconductors reported earnings per share (EPS) of $2.72 for its last quarter, which exceeded analysts' expectations, although revenue decreased by 6.4% year-over-year.

Nikko Asset Management Americas Inc. lessened its stake in NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 6.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,822 shares of the semiconductor provider's stock after selling 2,305 shares during the quarter. Nikko Asset Management Americas Inc.'s holdings in NXP Semiconductors were worth $6,051,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NXPI. Valley National Advisers Inc. increased its holdings in NXP Semiconductors by 118.9% during the 1st quarter. Valley National Advisers Inc. now owns 232 shares of the semiconductor provider's stock valued at $43,000 after acquiring an additional 126 shares in the last quarter. Ameriflex Group Inc. purchased a new position in NXP Semiconductors during the 4th quarter valued at about $44,000. Rossby Financial LCC purchased a new position in NXP Semiconductors during the 1st quarter valued at about $46,000. GoalVest Advisory LLC increased its holdings in NXP Semiconductors by 472.9% during the 1st quarter. GoalVest Advisory LLC now owns 275 shares of the semiconductor provider's stock valued at $52,000 after acquiring an additional 227 shares in the last quarter. Finally, Cullen Frost Bankers Inc. increased its holdings in NXP Semiconductors by 112.1% during the 1st quarter. Cullen Frost Bankers Inc. now owns 316 shares of the semiconductor provider's stock valued at $60,000 after acquiring an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 90.54% of the company's stock.

NXP Semiconductors Price Performance

NXPI opened at $223.29 on Friday. The company's 50 day simple moving average is $215.14 and its 200 day simple moving average is $206.52. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.47 and a current ratio of 1.74. NXP Semiconductors N.V. has a 1 year low of $148.09 and a 1 year high of $264.54. The stock has a market capitalization of $56.41 billion, a PE ratio of 26.61, a P/E/G ratio of 2.55 and a beta of 1.40.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last released its earnings results on Monday, July 21st. The semiconductor provider reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.06. NXP Semiconductors had a net margin of 17.72% and a return on equity of 27.72%. The business had revenue of $2.93 billion for the quarter, compared to analysts' expectations of $2.90 billion. During the same period last year, the company earned $3.20 earnings per share. The company's quarterly revenue was down 6.4% on a year-over-year basis. As a group, sell-side analysts expect that NXP Semiconductors N.V. will post 10.28 EPS for the current year.

NXP Semiconductors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 25th were paid a $1.014 dividend. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Wednesday, June 25th. NXP Semiconductors's dividend payout ratio is presently 48.39%.

Wall Street Analyst Weigh In

NXPI has been the subject of several recent research reports. UBS Group raised their target price on shares of NXP Semiconductors from $250.00 to $276.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Morgan Stanley set a $229.00 price target on shares of NXP Semiconductors in a report on Monday, April 21st. Wells Fargo & Company lifted their price target on shares of NXP Semiconductors from $250.00 to $260.00 and gave the stock an "overweight" rating in a report on Wednesday. Cantor Fitzgerald reiterated an "overweight" rating and set a $250.00 price target on shares of NXP Semiconductors in a report on Tuesday. Finally, Needham & Company LLC lifted their price target on shares of NXP Semiconductors from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Tuesday. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $256.05.

Insider Activity at NXP Semiconductors

In related news, EVP Jennifer Wuamett sold 9,132 shares of NXP Semiconductors stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $230.00, for a total transaction of $2,100,360.00. Following the transaction, the executive vice president owned 27,088 shares in the company, valued at approximately $6,230,240. The trade was a 25.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.12% of the company's stock.

NXP Semiconductors Company 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.

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