NXP Semiconductors N.V. $NXPI Shares Sold by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services trimmed its NXP Semiconductors stake by 6.9% in the fourth quarter, selling 4,995 shares and leaving it with 67,148 shares valued at about $14.6 million.
• Analysts remain broadly positive on NXPI, with several firms raising price targets and the stock now carrying a consensus “Moderate Buy” rating and average target of $294.25.
• Recent insider selling included two EVP transactions under 10b5-1 plans, while NXP also reported stronger-than-expected quarterly results, including EPS of $3.05 and revenue of $3.18 billion.

PNC Financial Services Group Inc. reduced its position in NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,148 shares of the semiconductor provider's stock after selling 4,995 shares during the quarter. PNC Financial Services Group Inc.'s holdings in NXP Semiconductors were worth $14,575,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in NXP Semiconductors by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 13,612,546 shares of the semiconductor provider's stock valued at $2,954,739,000 after acquiring an additional 293,558 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of NXP Semiconductors by 11.9% in the 3rd 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 during the period. State Street Corp boosted its stake in shares of NXP Semiconductors by 0.5% in the 3rd quarter. State Street Corp now owns 10,988,061 shares of the semiconductor provider's stock valued at $2,512,283,000 after buying an additional 53,261 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of NXP Semiconductors by 1.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,849,741 shares of the semiconductor provider's stock valued at $1,703,865,000 after buying an additional 121,419 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of NXP Semiconductors by 3.2% in the 3rd quarter. Invesco Ltd. now owns 4,755,687 shares of the semiconductor provider's stock valued at $1,083,013,000 after buying an additional 147,192 shares during the period. 90.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NXPI. Morgan Stanley lifted their price objective on NXP Semiconductors from $299.00 to $335.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. Stifel Nicolaus lifted their price objective on NXP Semiconductors from $215.00 to $250.00 and gave the company a "hold" rating in a research note on Friday, April 24th. Citigroup lifted their price objective on NXP Semiconductors from $255.00 to $270.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Oppenheimer lifted their price objective on NXP Semiconductors from $250.00 to $300.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of NXP Semiconductors in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $294.25.

Insider Buying and Selling at NXP Semiconductors

In other NXP Semiconductors news, EVP Andrew Hardy sold 5,289 shares of the 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 directly owned 2,020 shares in the company, valued at $474,700. This represents a 72.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher L. Jensen sold 4,576 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $234.03, for a total transaction of $1,070,921.28. Following the completion of the transaction, the executive vice president owned 5,389 shares in the company, valued at $1,261,187.67. This represents a 45.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 10,865 shares of company stock worth $2,508,416 over the last three months. Insiders own 0.12% of the company's stock.

NXP Semiconductors Price Performance

NXPI stock opened at $316.47 on Friday. The stock has a market cap of $79.90 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 1.14 and a beta of 1.77. NXP Semiconductors N.V. has a fifty-two week low of $183.00 and a fifty-two week high of $316.81. The company has a quick ratio of 1.55, a current ratio of 2.24 and a debt-to-equity ratio of 1.00. The business has a 50 day moving average price of $234.74 and a 200 day moving average price of $226.31.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The semiconductor provider reported $3.05 EPS for the quarter, beating the consensus estimate of $2.98 by $0.07. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.14 billion. NXP Semiconductors had a net margin of 21.03% and a return on equity of 26.75%. The firm's revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.64 earnings per share. Equities research analysts anticipate that NXP Semiconductors N.V. will post 13.38 earnings per share for the current fiscal year.

NXP Semiconductors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Wednesday, March 25th were paid a $1.014 dividend. This represents a $4.06 annualized dividend and a yield of 1.3%. The ex-dividend date was Wednesday, March 25th. NXP Semiconductors's dividend payout ratio is currently 38.85%.

About NXP Semiconductors

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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