NXP Semiconductors N.V. $NXPI Shares Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its NXP Semiconductors stake by 22.1% in the third quarter, purchasing 81,965 additional shares for a total holding of 452,158 shares valued at approximately $107.4 million.
• Institutional investors own 90.54% of NXP, with major holders including BlackRock, State Street, Invesco, and Bank of America. The stock recently traded at $229.33, down 0.8%.
• NXP reported quarterly earnings of $3.61 per share and revenue of $3.50 billion, beating analyst estimates and reflecting 19.5% year-over-year revenue growth. Analysts maintain a “Moderate Buy” consensus with an average price target of $304.91, while the company pays an annualized dividend of $4.06 per share.

Assenagon Asset Management S.A. lifted its position in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 22.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 452,158 shares of the semiconductor provider's stock after acquiring an additional 81,965 shares during the period. Assenagon Asset Management S.A. owned 0.18% of NXP Semiconductors worth $107,401,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of NXPI. BlackRock Inc. acquired a new position in shares of NXP Semiconductors during the second quarter valued at $6,716,412,000. State Street Corp increased its position in shares of NXP Semiconductors by 6.4% during the 2nd quarter. State Street Corp now owns 11,699,143 shares of the semiconductor provider's stock valued at $3,298,932,000 after purchasing an additional 702,099 shares during the period. Wellington Management Group LLP acquired a new position in shares of NXP Semiconductors during the 2nd quarter valued at $21,099,000. Invesco Ltd. increased its position in shares of NXP Semiconductors by 17.2% during the 4th quarter. Invesco Ltd. now owns 5,574,672 shares of the semiconductor provider's stock valued at $1,210,038,000 after purchasing an additional 818,985 shares during the period. Finally, Bank of America Corp DE acquired a new stake in shares of NXP Semiconductors in the second quarter valued at $1,169,846,000. 90.54% of the stock is currently owned by institutional investors.

NXP Semiconductors Trading Down 0.8%

NXP Semiconductors stock opened at $229.33 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.04 and a quick ratio of 1.36. The company has a market capitalization of $57.83 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 0.78 and a beta of 1.80. NXP Semiconductors N.V. has a one year low of $183.00 and a one year high of $339.95. The company's fifty day moving average price is $229.94 and its two-hundred day moving average price is $255.96.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The semiconductor provider reported $3.61 EPS for the quarter, beating analysts' consensus estimates of $3.52 by $0.09. NXP Semiconductors had a return on equity of 27.83% and a net margin of 22.56%. The business had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the prior year, the firm posted $2.72 EPS. The firm's revenue for the quarter was up 19.5% on a year-over-year basis. On average, analysts forecast that NXP Semiconductors N.V. will post 13.75 earnings per share for the current fiscal year.

NXP Semiconductors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Wednesday, September 16th were paid 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 1.8%. NXP Semiconductors's dividend payout ratio (DPR) is presently 34.64%.

Analyst Ratings Changes

A number of research firms recently weighed in on NXPI. Citigroup reiterated a "neutral" rating on shares of NXP Semiconductors in a research report on Monday, July 13th. Wells Fargo & Company dropped their price target on NXP Semiconductors from $290.00 to $280.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 29th. Morgan Stanley boosted their price objective on NXP Semiconductors from $335.00 to $338.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Susquehanna upped their price objective on shares of NXP Semiconductors from $210.00 to $250.00 and gave the company a "neutral" rating in a research note on Tuesday, July 21st. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of NXP Semiconductors in a research report on Tuesday, September 8th. Sixteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $304.91.

Insiders Place Their Bets

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

NXP Semiconductors Company Profile

NXP Semiconductors N.V. is a global semiconductor company headquartered in Eindhoven, the Netherlands. The company develops and supplies secure connectivity and processing solutions for automotive, industrial and Internet of Things (IoT), mobile, and communication infrastructure applications.

Its product portfolio includes microcontrollers and application processors, automotive networking and processing chips, analog and power-management devices, radio-frequency and wireless connectivity products, sensors, and embedded security solutions.

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