NXP Semiconductors N.V. $NXPI Shares Bought by CIBC Asset Management Inc

Key Points

• CIBC Asset Management increased its stake in NXP Semiconductors by 38.1% in the fourth quarter, buying 26,832 additional shares to bring its total to 97,186 shares valued at about $21.1 million.
• NXP’s latest earnings beat expectations, reporting $3.05 per share on revenue of $3.18 billion, both ahead of estimates, while revenue rose 12.2% year over year.
• Wall Street remains constructive on NXPI, with several firms raising price targets and the stock carrying a consensus “Moderate Buy” rating and average target of $294.25.

CIBC Asset Management Inc raised its stake in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 38.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 97,186 shares of the semiconductor provider's stock after buying an additional 26,832 shares during the period. CIBC Asset Management Inc's holdings in NXP Semiconductors were worth $21,095,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of NXPI. Norges Bank acquired a new stake in shares of NXP Semiconductors during the 4th quarter valued at about $613,029,000. Wellington Management Group LLP raised its holdings in NXP Semiconductors by 11.9% in the 3rd quarter. Wellington Management Group LLP now owns 12,583,718 shares of the semiconductor provider's stock worth $2,865,690,000 after purchasing an additional 1,333,920 shares during the period. Rafferty Asset Management LLC boosted its position in NXP Semiconductors by 56.3% during the second quarter. Rafferty Asset Management LLC now owns 1,916,922 shares of the semiconductor provider's stock worth $418,828,000 after purchasing an additional 690,277 shares in the last quarter. Woodline Partners LP boosted its position in NXP Semiconductors by 6,342.2% during the third quarter. Woodline Partners LP now owns 673,403 shares of the semiconductor provider's stock worth $153,354,000 after purchasing an additional 662,950 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in NXP Semiconductors by 21.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,227,516 shares of the semiconductor provider's stock valued at $507,241,000 after purchasing an additional 398,250 shares during the period. Institutional investors and hedge funds own 90.54% of the company's stock.

NXP Semiconductors Stock Performance

Shares of NASDAQ:NXPI opened at $322.22 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.24 and a quick ratio of 1.55. The business's 50 day moving average price is $258.24 and its 200-day moving average price is $233.98. The firm has a market capitalization of $81.35 billion, a PE ratio of 30.83, a P/E/G ratio of 1.16 and a beta of 1.77. NXP Semiconductors N.V. has a 1 year low of $183.00 and a 1 year high of $339.95.

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

NXP Semiconductors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Wednesday, March 25th were given a $1.014 dividend. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Wednesday, March 25th. NXP Semiconductors's dividend payout ratio is 38.85%.

Analyst Upgrades and Downgrades

NXPI has been the subject of several research analyst reports. The Goldman Sachs Group reaffirmed a "buy" rating on shares of NXP Semiconductors in a research note on Wednesday, April 29th. Truist Financial lifted their price target on shares of NXP Semiconductors from $255.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Barclays boosted their price target on shares of NXP Semiconductors from $295.00 to $340.00 and gave the stock an "overweight" rating in a report on Tuesday, May 5th. Oppenheimer upped their price objective on shares of NXP Semiconductors from $250.00 to $300.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Finally, Bank of America reaffirmed a "neutral" rating and set a $230.00 price objective (down from $245.00) on shares of NXP Semiconductors in a report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $294.25.

Insider Transactions at NXP Semiconductors

In related news, EVP Christopher L. Jensen sold 4,576 shares of the company's 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 sale, the executive vice president owned 5,389 shares of the company's stock, valued at approximately $1,261,187.67. This represents a 45.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Micallef sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $194.58, for a total transaction of $194,580.00. Following the completion of the transaction, the executive vice president directly owned 9,942 shares in the company, valued at $1,934,514.36. This trade represents a 9.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 12,611 shares of company stock valued at $3,061,078. Corporate 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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