NXP Semiconductors N.V. $NXPI Shares Newly Bought by Aberdeen Group plc

Key Points

• Aberdeen Group bought 2.60 million NXP shares in the third quarter, worth about $616 million, giving it a 1.03% stake and making NXP its 22nd-largest portfolio holding.
• NXP beat quarterly earnings and revenue estimates, with EPS of $4.20 and revenue of $3.79 billion; revenue rose 19.3% year over year. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $295.78.
• The board authorized a $5 billion share repurchase program. Company insiders also sold 6,398 shares worth about $1.57 million over the last quarter.

Aberdeen Group plc acquired a new stake in NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,595,296 shares of the semiconductor provider's stock, valued at approximately $616,461,000. NXP Semiconductors comprises approximately 0.6% of Aberdeen Group plc's investment portfolio, making the stock its 22nd biggest position. Aberdeen Group plc owned 1.03% of NXP Semiconductors at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL raised its holdings in shares of NXP Semiconductors by 2.0% during the first quarter. Gamco Investors INC. ET AL now owns 2,305 shares of the semiconductor provider's stock valued at $454,000 after acquiring an additional 45 shares in the last quarter. Howard Financial Services LTD. boosted its holdings in NXP Semiconductors by 2.9% in the third quarter. Howard Financial Services LTD. now owns 1,736 shares of the semiconductor provider's stock valued at $412,000 after acquiring an additional 49 shares in the last quarter. Ballast Advisors LLC increased its position in NXP Semiconductors by 0.7% during the 1st quarter. Ballast Advisors LLC now owns 9,078 shares of the semiconductor provider's stock valued at $1,787,000 after purchasing an additional 61 shares during the period. Chicago Partners Investment Group LLC increased its position in NXP Semiconductors by 6.1% during the 1st quarter. Chicago Partners Investment Group LLC now owns 1,200 shares of the semiconductor provider's stock valued at $236,000 after purchasing an additional 69 shares during the period. Finally, Allied Private Wealth LLC bought a new position in NXP Semiconductors in the 2nd quarter worth $28,000. 90.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NXPI shares. Needham & Company LLC reissued a "buy" rating and issued a $300.00 target price on shares of NXP Semiconductors in a research report on Wednesday, October 28th. TD Cowen boosted their target price on shares of NXP Semiconductors from $275.00 to $280.00 and gave the company a "buy" rating in a report on Wednesday, October 28th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $290.00 target price (up from $270.00) on shares of NXP Semiconductors in a research report on Wednesday, July 29th. Truist Financial decreased their price target on shares of NXP Semiconductors from $310.00 to $300.00 and set a "buy" rating for the company in a research note on Wednesday, October 28th. Finally, Wall Street Zen cut shares of NXP Semiconductors from a "buy" rating to a "hold" rating in a research report on Saturday, October 17th. Sixteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $295.78.

Insider Activity at NXP Semiconductors

In related news, Director Anthony R. Foxx sold 400 shares of the stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $263.60, for a total transaction of $105,440.00. Following the transaction, the director owned 2,942 shares in the company, valued at $775,511.20. This represents a 11.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew Hardy sold 1,643 shares of the firm's stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $266.49, for a total transaction of $437,843.07. Following the completion of the sale, the executive vice president owned 4,064 shares in the company, valued at $1,083,015.36. This represents a 28.79% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,398 shares of company stock worth $1,574,523 over the last quarter. 0.05% of the stock is currently owned by insiders.

NXP Semiconductors Trading Down 0.8%

NASDAQ:NXPI opened at $265.09 on Friday. The stock has a market cap of $66.82 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 0.90 and a beta of 1.83. The company has a quick ratio of 1.47, a current ratio of 2.12 and a debt-to-equity ratio of 0.80. The company's 50 day moving average price is $240.01 and its 200-day moving average price is $247.33. NXP Semiconductors N.V. has a 52 week low of $183.00 and a 52 week high of $339.95.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The semiconductor provider reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.12 by $0.08. The business had revenue of $3.79 billion for the quarter, compared to analysts' expectations of $3.76 billion. NXP Semiconductors had a return on equity of 28.57% and a net margin of 23.40%. The firm's quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.11 EPS. On average, equities research analysts forecast that NXP Semiconductors N.V. will post 13.81 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, October 8th. Shareholders of record on Wednesday, September 16th were given a $1.0140 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $4.06 dividend on an annualized basis and a yield of 1.5%. NXP Semiconductors's payout ratio is 31.92%.

NXP Semiconductors declared that its board has initiated a share buyback program on Tuesday, October 27th that permits the company to buy back $5 billion in shares. This repurchase authorization permits the semiconductor provider to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

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.

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