NXP Semiconductors N.V. $NXPI Position Trimmed by Morningstar Investment Management LLC

Key Points

• Morningstar Investment Management cut its NXP Semiconductors stake by 55.1% in the fourth quarter, leaving it with 15,216 shares worth about $3.3 million.
• NXP reported better-than-expected quarterly results, with EPS of $3.05 versus $2.98 expected and revenue of $3.18 billion, up 12.2% year over year.
• Analyst sentiment remains constructive overall, with a Moderate Buy consensus and a Street-average price target of $294.25, even as some firms mixed upgrades and downgrades.

Morningstar Investment Management LLC decreased its holdings in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 55.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,216 shares of the semiconductor provider's stock after selling 18,689 shares during the period. Morningstar Investment Management LLC's holdings in NXP Semiconductors were worth $3,303,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in NXP Semiconductors by 2.2% during 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 purchasing an additional 293,558 shares during the last quarter. Wellington Management Group LLP increased its stake in NXP Semiconductors by 11.9% during the third quarter. Wellington Management Group LLP now owns 12,583,718 shares of the semiconductor provider's stock valued at $2,865,690,000 after purchasing an additional 1,333,920 shares during the last quarter. State Street Corp increased its stake in NXP Semiconductors by 0.5% during the third quarter. State Street Corp now owns 10,988,061 shares of the semiconductor provider's stock valued at $2,512,283,000 after purchasing an additional 53,261 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in NXP Semiconductors by 1.6% during the fourth 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 purchasing an additional 121,419 shares during the last quarter. Finally, Invesco Ltd. increased its stake in NXP Semiconductors by 3.2% during the third quarter. Invesco Ltd. now owns 4,755,687 shares of the semiconductor provider's stock valued at $1,083,013,000 after purchasing an additional 147,192 shares during the last quarter. Institutional investors own 90.54% of the company's stock.

Analyst Upgrades and Downgrades

NXPI has been the subject of several recent research reports. Stifel Nicolaus boosted their target price on shares of NXP Semiconductors from $215.00 to $250.00 and gave the company a "hold" rating in a research note on Friday, April 24th. Bank of America restated a "neutral" rating and set a $230.00 price target (down from $245.00) on shares of NXP Semiconductors in a research report on Monday, April 13th. Wells Fargo & Company upped their price target on shares of NXP Semiconductors from $235.00 to $265.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 29th. Mizuho upped their price target on shares of NXP Semiconductors from $188.00 to $200.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 29th. Finally, Wolfe Research upped their price target on shares of NXP Semiconductors from $270.00 to $320.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, NXP Semiconductors has a consensus rating of "Moderate Buy" and a consensus price target of $294.25.

NXP Semiconductors Price Performance

NXP Semiconductors stock opened at $316.47 on Monday. The company has a 50-day simple moving average of $234.74 and a 200-day simple moving average of $226.43. The firm has a market capitalization of $79.90 billion, a P/E ratio of 30.28, a P/E/G ratio of 1.14 and a beta of 1.77. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.55 and a current ratio of 2.24. NXP Semiconductors N.V. has a one year low of $183.00 and a one year high of $316.81.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The semiconductor provider reported $3.05 EPS for the quarter, topping the consensus estimate of $2.98 by $0.07. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.14 billion. NXP Semiconductors had a net margin of 21.03% and a return on equity of 26.75%. The company's quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.64 earnings per share. As a group, equities analysts expect that NXP Semiconductors N.V. will post 13.38 earnings per share for the current year.

NXP Semiconductors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Investors of record on Wednesday, March 25th were given a $1.014 dividend. This represents a $4.06 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Wednesday, March 25th. NXP Semiconductors's dividend payout ratio is currently 38.76%.

Insider Activity at NXP Semiconductors

In related news, EVP Andrew Micallef sold 1,000 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $194.58, for a total value of $194,580.00. Following the completion of the transaction, the executive vice president owned 9,942 shares in the company, valued at $1,934,514.36. This represents a 9.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Christopher L. Jensen sold 4,576 shares of the stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $234.03, for a total transaction of $1,070,921.28. Following the completion of the transaction, the executive vice president owned 5,389 shares of the company's stock, valued at $1,261,187.67. This represents a 45.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 10,865 shares of company stock worth $2,508,416 in the last 90 days. Corporate insiders own 0.12% 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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