NXP Semiconductors N.V. $NXPI Shares Newly Purchased by Codex Capital Asset Management L.L.C.

Key Points

• Codex Capital Asset Management initiated a position in NXP Semiconductors, buying 5,500 shares worth approximately $1.306 million in the third quarter; institutional investors and hedge funds own 90.54% of the stock.
• NXP reported quarterly earnings of $4.20 per share, beating estimates of $4.12, while revenue rose 19.3% year over year to $3.79 billion.
• The board authorized a $5 billion share repurchase plan. The company also pays an annualized dividend of $4.06 per share, a yield of about 1.5%.

Codex Capital Asset Management L.L.C. purchased a new position in NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,500 shares of the semiconductor provider's stock, valued at approximately $1,306,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of NXPI. Farther Finance Advisors LLC acquired a new position in shares of NXP Semiconductors in the 3rd quarter worth $1,126,000. Ieq Capital LLC acquired a new stake in shares of NXP Semiconductors during the second quarter worth $1,208,000. BlackRock Inc. acquired a new stake in shares of NXP Semiconductors during the second quarter worth $6,716,412,000. The Manufacturers Life Insurance Company purchased a new stake in shares of NXP Semiconductors during the second quarter valued at $36,657,000. Finally, Pure Financial Advisors LLC purchased a new stake in shares of NXP Semiconductors during the second quarter valued at $695,000. 90.54% of the stock is owned by institutional investors and hedge funds.

NXP Semiconductors Price Performance

Shares of NXPI opened at $265.01 on Thursday. The company has a market capitalization of $66.80 billion, a price-to-earnings ratio of 20.83, a P/E/G ratio of 0.89 and a beta of 1.83. NXP Semiconductors N.V. has a fifty-two week low of $183.00 and a fifty-two week high of $339.95. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.12 and a quick ratio of 1.47. The business's 50-day moving average is $235.22 and its 200-day moving average is $246.42.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The semiconductor provider reported $4.20 EPS for the quarter, topping the consensus estimate of $4.12 by $0.08. NXP Semiconductors had a net margin of 23.40% and a return on equity of 28.57%. The business had revenue of $3.79 billion during the quarter, compared to analysts' expectations of $3.76 billion. During the same period last year, the company posted $3.11 earnings per share. The firm's quarterly revenue was up 19.3% compared to the same quarter last year. Equities research analysts expect that NXP Semiconductors N.V. will post 13.81 EPS for the current fiscal year.

NXP Semiconductors announced that its board has initiated a share repurchase plan on Tuesday, October 27th that permits the company to repurchase $5 billion in outstanding shares. This buyback authorization permits the semiconductor provider to buy shares of its stock through open market purchases. Share buyback plans are often a sign that the company's board believes its stock is undervalued.

NXP Semiconductors Dividend Announcement

The business 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 was Wednesday, September 16th. This represents a $4.06 dividend on an annualized basis and a yield of 1.5%. NXP Semiconductors's dividend payout ratio is presently 31.92%.

Insiders Place Their Bets

In other news, EVP Andrew Micallef sold 1,000 shares of the company's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $226.04, for a total value of $226,040.00. Following the transaction, the executive vice president directly owned 7,942 shares of the company's stock, valued at approximately $1,795,209.68. This represents a 11.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher L. Jensen sold 3,355 shares of the company's stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $240.00, for a total transaction of $805,200.00. Following the completion of the transaction, the executive vice president directly owned 288 shares in the company, valued at $69,120. This trade represents a 92.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NXPI shares. UBS Group cut NXP Semiconductors from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $305.00 to $270.00 in a research note on Monday, August 3rd. Mizuho reduced their price objective on shares of NXP Semiconductors from $200.00 to $190.00 and set an "underperform" rating for the company in a research note on Wednesday, July 29th. Stifel Nicolaus decreased their target price on shares of NXP Semiconductors from $265.00 to $250.00 and set a "hold" rating for the company in a report on Wednesday, October 28th. Wall Street Zen cut shares of NXP Semiconductors from a "buy" rating to a "hold" rating in a report on Saturday, October 17th. Finally, JPMorgan Chase & Co. lifted their target price on shares of NXP Semiconductors from $295.00 to $300.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 29th. Sixteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, NXP Semiconductors has a consensus rating of "Moderate Buy" and a consensus price target of $295.78.

NXP Semiconductors Profile

NXP Semiconductors N.V. is a global semiconductor company that develops technologies for automotive, industrial, communications infrastructure, mobile, and Internet of Things applications. The company provides processing, connectivity, security, sensing, and power-management solutions that help enable connected and automated systems.

Its product portfolio includes microcontrollers and application processors, automotive networking and radar solutions, secure identification and authentication technologies, near-field communication products, radio-frequency power amplifiers, analog and mixed-signal devices, and wireless connectivity solutions.

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