NXP Semiconductors N.V. $NXPI Shares Sold by Generate Investment Management Ltd

Key Points

• Generate Investment Management Ltd cut its NXP Semiconductors stake by 44.6% in the first quarter, selling 22,764 shares and ending with 28,293 shares valued at about $5.57 million.
• NXP posted a strong quarterly report, with EPS of $3.05 beating estimates and revenue of $3.18 billion topping expectations; revenue rose 12.2% year over year.
• Analyst sentiment remains constructive, with a Moderate Buy consensus and a target price of $295.92, while the stock recently traded above that level at $323.24 and also carries a quarterly dividend of $1.014 per share.

Generate Investment Management Ltd decreased its position in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 44.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,293 shares of the semiconductor provider's stock after selling 22,764 shares during the period. Generate Investment Management Ltd's holdings in NXP Semiconductors were worth $5,570,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Brookstone Capital Management increased its position in shares of NXP Semiconductors by 30.2% during the first quarter. Brookstone Capital Management now owns 1,428 shares of the semiconductor provider's stock worth $281,000 after acquiring an additional 331 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of NXP Semiconductors by 53.6% in the first quarter. SG Americas Securities LLC now owns 768,773 shares of the semiconductor provider's stock worth $151,341,000 after acquiring an additional 268,290 shares in the last quarter. Smith Salley Wealth Management boosted its holdings in NXP Semiconductors by 0.7% in the first quarter. Smith Salley Wealth Management now owns 82,143 shares of the semiconductor provider's stock valued at $16,171,000 after purchasing an additional 545 shares during the last quarter. Evolve Private Wealth LLC boosted its holdings in NXP Semiconductors by 12.6% in the first quarter. Evolve Private Wealth LLC now owns 2,343 shares of the semiconductor provider's stock valued at $461,000 after purchasing an additional 263 shares during the last quarter. Finally, Old North State Trust LLC grew its stake in NXP Semiconductors by 20.9% during the 4th quarter. Old North State Trust LLC now owns 1,418 shares of the semiconductor provider's stock valued at $308,000 after purchasing an additional 245 shares in the last quarter. Institutional investors and hedge funds own 90.54% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NXPI shares. BNP Paribas Exane lifted their price objective on NXP Semiconductors from $270.00 to $310.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Bank of America reiterated a "neutral" rating and set a $230.00 target price (down from $245.00) on shares of NXP Semiconductors in a research note on Monday, April 13th. Cantor Fitzgerald raised their price target on shares of NXP Semiconductors from $380.00 to $400.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 13th. Wells Fargo & Company lifted their price target on shares of NXP Semiconductors from $265.00 to $305.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 9th. Finally, Citigroup increased their price objective on shares of NXP Semiconductors from $255.00 to $270.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have given a Hold rating and one has assigned 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 target price of $295.92.

NXP Semiconductors Price Performance

Shares of NXPI opened at $323.24 on Tuesday. NXP Semiconductors N.V. has a 52 week low of $183.00 and a 52 week high of $339.95. The company has a current ratio of 2.24, a quick ratio of 1.55 and a debt-to-equity ratio of 1.00. The firm has a market cap of $81.61 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 1.13 and a beta of 1.77. The stock has a 50 day moving average of $284.18 and a 200-day moving average of $243.35.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The semiconductor provider reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.07. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.14 billion. NXP Semiconductors had a return on equity of 26.75% and a net margin of 21.03%.The business's revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.64 EPS. As a group, analysts forecast that NXP Semiconductors N.V. will post 13.4 EPS for the current year.

NXP Semiconductors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 24th will be 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 is Wednesday, June 24th. NXP Semiconductors's dividend payout ratio (DPR) is presently 38.85%.

Insider Activity

In related news, EVP Andrew Micallef sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $315.57, for a total value of $315,570.00. Following the sale, the executive vice president owned 8,942 shares of the company's stock, valued at approximately $2,821,826.94. This trade represents a 10.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Hardy sold 5,289 shares of the business's stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $235.00, for a total value of $1,242,915.00. Following the transaction, the executive vice president owned 2,020 shares of the company's stock, valued at $474,700. This represents a 72.36% 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. In the last three months, insiders sold 12,611 shares of company stock valued at $3,182,068. Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.