NXP Semiconductors N.V. $NXPI Shares Sold by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management trimmed its NXP Semiconductors stake by 4.9% in the fourth quarter, selling 3,328 shares and ending with 64,317 shares worth about $14.0 million.
• NXP beat quarterly expectations, reporting EPS of $3.05 versus the $2.98 estimate and revenue of $3.18 billion, up 12.2% year over year.
• Analyst sentiment remains constructive: several firms raised price targets, and the stock carries a consensus “Moderate Buy” rating with an average target of $294.25.

Resona Asset Management Co. Ltd. cut its holdings in NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 64,317 shares of the semiconductor provider's stock after selling 3,328 shares during the period. Resona Asset Management Co. Ltd.'s holdings in NXP Semiconductors were worth $13,961,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. MGO One Seven LLC lifted its holdings in NXP Semiconductors by 63.0% in the fourth quarter. MGO One Seven LLC now owns 13,870 shares of the semiconductor provider's stock valued at $3,011,000 after acquiring an additional 5,359 shares during the last quarter. ING Groep NV lifted its holdings in NXP Semiconductors by 27.5% in the third quarter. ING Groep NV now owns 104,850 shares of the semiconductor provider's stock valued at $23,877,000 after acquiring an additional 22,631 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in NXP Semiconductors by 16.4% in the fourth quarter. Teacher Retirement System of Texas now owns 45,366 shares of the semiconductor provider's stock valued at $9,847,000 after acquiring an additional 6,379 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in NXP Semiconductors by 21.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,227,516 shares of the semiconductor provider's stock valued at $507,241,000 after acquiring an additional 398,250 shares during the last quarter. Finally, Cibc World Market Inc. lifted its holdings in NXP Semiconductors by 293.6% in the third quarter. Cibc World Market Inc. now owns 38,543 shares of the semiconductor provider's stock valued at $8,777,000 after acquiring an additional 28,751 shares during the last quarter. 90.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Needham & Company LLC boosted their target price on NXP Semiconductors from $250.00 to $300.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Truist Financial boosted their target price on NXP Semiconductors from $255.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Susquehanna boosted their target price on NXP Semiconductors from $210.00 to $250.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Oppenheimer boosted their target price on NXP Semiconductors from $250.00 to $300.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. boosted their target price on NXP Semiconductors from $250.00 to $295.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, NXP Semiconductors currently has a consensus rating of "Moderate Buy" and a consensus price target of $294.25.

NXP Semiconductors Stock Up 5.4%

NXP Semiconductors stock opened at $310.15 on Thursday. NXP Semiconductors N.V. has a twelve month low of $183.00 and a twelve month high of $311.04. The stock's fifty day simple moving average is $230.48 and its 200-day simple moving average is $225.04. 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 capitalization of $78.30 billion, a P/E ratio of 29.68, a P/E/G ratio of 1.06 and a beta of 1.77.

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

NXP Semiconductors Announces Dividend

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

Insider Transactions at NXP Semiconductors

In related news, EVP Andrew Micallef sold 1,000 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $194.58, for a total value of $194,580.00. Following the transaction, the executive vice president owned 9,942 shares of the company's stock, valued at $1,934,514.36. This represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Christopher L. Jensen sold 4,576 shares of the stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $234.03, for a total value of $1,070,921.28. Following the completion of the transaction, the executive vice president directly owned 5,389 shares in the company, valued at $1,261,187.67. This trade represents a 45.92% 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. Over the last 90 days, insiders have sold 10,865 shares of company stock valued at $2,508,416. 0.12% of the stock is currently owned by company insiders.

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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