NXP Semiconductors N.V. $NXPI Position Boosted by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in NXP Semiconductors by 11.7% during the first quarter, owning approximately 5.04% of the company with shares valued at $2.42 billion.
• Several institutional investors, including Fox Run Management and AlphaCore Capital, also raised their stakes, contributing to a total of 90.54% institutional ownership in the company.
• Analysts have upgraded their price targets for NXP Semiconductors, with Barclays setting a new target of $220.00 and Wells Fargo increasing it to $260.00, reflecting strong market confidence.

Wellington Management Group LLP increased its holdings in NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 11.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,731,044 shares of the semiconductor provider's stock after buying an additional 1,330,474 shares during the quarter. Wellington Management Group LLP owned about 5.04% of NXP Semiconductors worth $2,419,662,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Fox Run Management L.L.C. grew its holdings in NXP Semiconductors by 3.3% in the 1st quarter. Fox Run Management L.L.C. now owns 1,669 shares of the semiconductor provider's stock worth $317,000 after buying an additional 54 shares in the last quarter. AlphaCore Capital LLC boosted its stake in NXP Semiconductors by 3.5% during the 1st quarter. AlphaCore Capital LLC now owns 1,635 shares of the semiconductor provider's stock valued at $312,000 after purchasing an additional 55 shares in the last quarter. Manchester Capital Management LLC boosted its stake in NXP Semiconductors by 14.7% during the 1st quarter. Manchester Capital Management LLC now owns 446 shares of the semiconductor provider's stock valued at $85,000 after purchasing an additional 57 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in NXP Semiconductors by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 21,810 shares of the semiconductor provider's stock valued at $4,145,000 after purchasing an additional 58 shares in the last quarter. Finally, Hemington Wealth Management boosted its stake in NXP Semiconductors by 50.0% during the 1st quarter. Hemington Wealth Management now owns 177 shares of the semiconductor provider's stock valued at $33,000 after purchasing an additional 59 shares in the last quarter. 90.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NXPI shares. Barclays increased their price target on NXP Semiconductors from $190.00 to $220.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Wells Fargo & Company increased their price target on NXP Semiconductors from $250.00 to $260.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. The Goldman Sachs Group started coverage on NXP Semiconductors in a research note on Thursday, July 10th. They set a "buy" rating and a $276.00 price target for the company. JPMorgan Chase & Co. increased their price target on NXP Semiconductors from $205.00 to $240.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Stifel Nicolaus increased their price objective on NXP Semiconductors from $170.00 to $210.00 and gave the company a "hold" rating in a research report on Friday, July 18th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $256.05.

Insiders Place Their Bets

In other NXP Semiconductors news, CFO William Betz sold 6,785 shares of the stock in a transaction on Monday, July 28th. The shares were sold at an average price of $227.34, for a total transaction of $1,542,501.90. Following the transaction, the chief financial officer directly owned 1,520 shares of the company's stock, valued at $345,556.80. This represents a 81.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jennifer Wuamett sold 9,132 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $230.00, for a total transaction of $2,100,360.00. Following the transaction, the executive vice president directly owned 27,088 shares in the company, valued at $6,230,240. The trade was a 25.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,917 shares of company stock valued at $4,082,002 over the last three months. 0.12% of the stock is currently owned by insiders.

NXP Semiconductors Price Performance

Shares of NASDAQ:NXPI opened at $228.78 on Monday. The company has a current ratio of 1.74, a quick ratio of 1.20 and a debt-to-equity ratio of 0.99. NXP Semiconductors N.V. has a 1 year low of $148.09 and a 1 year high of $259.74. The business has a fifty day simple moving average of $220.17 and a 200 day simple moving average of $206.89. The firm has a market cap of $57.68 billion, a price-to-earnings ratio of 27.27, a P/E/G ratio of 2.59 and a beta of 1.41.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.90 billion. NXP Semiconductors had a return on equity of 27.99% and a net margin of 17.72%. NXP Semiconductors's quarterly revenue was down 6.4% compared to the same quarter last year. During the same period last year, the company earned $3.20 earnings per share. As a group, sell-side analysts predict that NXP Semiconductors N.V. will post 10.28 earnings per share for the current fiscal year.

NXP Semiconductors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 25th were given a dividend of $1.014 per share. This represents a $4.06 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Wednesday, June 25th. NXP Semiconductors's dividend payout ratio is presently 48.27%.

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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