NXP Semiconductors N.V. $NXPI Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management trimmed its NXP stake by 2.2% in Q4, selling 100,953 shares and now holding 4,547,654 shares (about 1.81% of NXP) valued at roughly $987.3 million, making NXPI its 13th largest position.
• NXP beat expectations in its most recent quarter with $3.35 EPS vs. $3.31 est. and $3.34B revenue (up 7.2% YoY); the company has a $61.6B market cap, a P/E of 30.74, and pays a $1.014 quarterly dividend ($4.06 annual, 1.7% yield).
• Analyst sentiment is broadly positive — consensus is a “Moderate Buy” with an average price target of $250.59, and several firms (including KeyCorp) have recently raised targets or reiterated buy/overweight ratings.

Pictet Asset Management Holding SA reduced its position in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,547,654 shares of the semiconductor provider's stock after selling 100,953 shares during the period. NXP Semiconductors comprises approximately 1.0% of Pictet Asset Management Holding SA's portfolio, making the stock its 13th largest position. Pictet Asset Management Holding SA owned approximately 1.81% of NXP Semiconductors worth $987,294,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in NXP Semiconductors by 11.9% in the third quarter. Wellington Management Group LLP now owns 12,583,718 shares of the semiconductor provider's stock valued at $2,865,690,000 after buying an additional 1,333,920 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of NXP Semiconductors by 307.7% during the 3rd quarter. SG Americas Securities LLC now owns 1,179,129 shares of the semiconductor provider's stock worth $268,523,000 after acquiring an additional 889,883 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in shares of NXP Semiconductors by 56.3% in the 2nd quarter. Rafferty Asset Management LLC now owns 1,916,922 shares of the semiconductor provider's stock valued at $418,828,000 after acquiring an additional 690,277 shares during the last quarter. Woodline Partners LP increased its holdings in shares of NXP Semiconductors by 6,342.2% in the 3rd quarter. Woodline Partners LP now owns 673,403 shares of the semiconductor provider's stock valued at $153,354,000 after acquiring an additional 662,950 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of NXP Semiconductors by 21.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,227,516 shares of the semiconductor provider's stock worth $507,241,000 after acquiring an additional 398,250 shares in the last quarter. Institutional investors and hedge funds own 90.54% of the company's stock.

NXP Semiconductors Price Performance

Shares of NASDAQ:NXPI opened at $244.04 on Monday. The stock has a market cap of $61.63 billion, a P/E ratio of 30.74, a P/E/G ratio of 1.12 and a beta of 1.46. The firm has a fifty day moving average price of $210.76 and a 200 day moving average price of $216.89. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.05 and a quick ratio of 1.38. NXP Semiconductors N.V. has a 1-year low of $176.26 and a 1-year high of $256.36.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 3rd. The semiconductor provider reported $3.35 EPS for the quarter, beating analysts' consensus estimates of $3.31 by $0.04. NXP Semiconductors had a net margin of 16.47% and a return on equity of 26.72%. The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.30 billion. During the same period in the previous year, the business posted $3.18 earnings per share. NXP Semiconductors's quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts predict that NXP Semiconductors N.V. will post 12.51 EPS for the current year.

NXP Semiconductors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Investors of record on Wednesday, March 25th were issued a dividend of $1.014 per share. The ex-dividend date of this dividend was Wednesday, March 25th. This represents a $4.06 annualized dividend and a dividend yield of 1.7%. NXP Semiconductors's dividend payout ratio (DPR) is currently 51.13%.

Insider Activity at NXP Semiconductors

In other news, EVP Andrew Micallef sold 1,000 shares of the firm's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $194.58, for a total value of $194,580.00. Following the completion of the sale, the executive vice president owned 9,942 shares in the company, valued at approximately $1,934,514.36. This trade represents a 9.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.12% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. KeyCorp upped their price target on NXP Semiconductors from $280.00 to $300.00 and gave the company an "overweight" rating in a report on Wednesday, February 4th. JPMorgan Chase & Co. raised their price objective on shares of NXP Semiconductors from $245.00 to $250.00 and gave the stock a "neutral" rating in a report on Wednesday, February 4th. Needham & Company LLC restated a "buy" rating and issued a $250.00 target price on shares of NXP Semiconductors in a report on Tuesday, February 3rd. Stifel Nicolaus increased their target price on shares of NXP Semiconductors from $215.00 to $250.00 and gave the company a "hold" rating in a research report on Friday. Finally, Morgan Stanley reiterated an "overweight" rating on shares of NXP Semiconductors in a research note on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, NXP Semiconductors currently has a consensus rating of "Moderate Buy" and a consensus price target of $250.59.

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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