NXP Semiconductors N.V. $NXPI Shares Sold by Zweig DiMenna Associates LLC

Key Points

• Zweig DiMenna Associates LLC cut its NXP Semiconductors stake by 35.3% in the first quarter, selling 22,088 shares and leaving it with 40,412 shares worth about $7.96 million.
• NXP reported better-than-expected Q1 earnings, with EPS of $3.05 versus $2.98 expected and revenue of $3.18 billion versus $3.14 billion estimated, while revenue rose 12.2% year over year.
• Analysts remain broadly constructive: the stock has a Moderate Buy consensus rating and a consensus price target of $307.27, even after several firms raised targets following the earnings report.

Zweig DiMenna Associates LLC lessened its holdings in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 35.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,412 shares of the semiconductor provider's stock after selling 22,088 shares during the period. Zweig DiMenna Associates LLC's holdings in NXP Semiconductors were worth $7,956,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of NXP Semiconductors during the 4th quarter worth $613,029,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of NXP Semiconductors by 34,719.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,680,395 shares of the semiconductor provider's stock valued at $581,807,000 after purchasing an additional 2,672,697 shares in the last quarter. Invesco Ltd. increased its holdings in shares of NXP Semiconductors by 17.2% in 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 in the last quarter. Amundi lifted its stake in shares of NXP Semiconductors by 46.6% in the fourth quarter. Amundi now owns 2,203,488 shares of the semiconductor provider's stock valued at $478,270,000 after purchasing an additional 700,753 shares during the period. Finally, Rafferty Asset Management LLC lifted its stake in shares of NXP Semiconductors by 56.3% in the second quarter. Rafferty Asset Management LLC now owns 1,916,922 shares of the semiconductor provider's stock valued at $418,828,000 after purchasing an additional 690,277 shares during the period. Hedge funds and other institutional investors own 90.54% of the company's stock.

NXP Semiconductors Stock Performance

NASDAQ NXPI opened at $283.87 on Wednesday. NXP Semiconductors N.V. has a fifty-two week low of $183.00 and a fifty-two week high of $339.95. The stock has a market cap of $71.67 billion, a price-to-earnings ratio of 27.16, a price-to-earnings-growth ratio of 1.00 and a beta of 1.79. The business has a fifty day moving average of $299.70 and a 200-day moving average of $249.65. The company has a quick ratio of 1.55, a current ratio of 2.24 and a debt-to-equity ratio of 1.00.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The semiconductor provider reported $3.05 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.64 earnings per share. As a group, analysts predict that NXP Semiconductors N.V. will post 13.4 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, July 9th. Shareholders of record on Wednesday, June 24th were issued a $1.014 dividend. This represents a $4.06 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Wednesday, June 24th. NXP Semiconductors's dividend payout ratio is 38.85%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. TD Cowen boosted their price objective on shares of NXP Semiconductors from $310.00 to $340.00 and gave the stock a "buy" rating in a report on Monday. Loop Capital increased their target price on shares of NXP Semiconductors from $275.00 to $290.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Mizuho lifted their price target on shares of NXP Semiconductors from $188.00 to $200.00 and gave the company an "underperform" rating in a research report on Wednesday, April 29th. Oppenheimer boosted their price target on NXP Semiconductors from $250.00 to $300.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Finally, Raymond James Financial upped their price target on NXP Semiconductors from $250.00 to $300.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $307.27.

Insiders Place Their Bets

In other NXP Semiconductors news, EVP Andrew Micallef sold 1,000 shares of the firm's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $315.57, for a total transaction of $315,570.00. Following the sale, the executive vice president directly owned 8,942 shares of the company's stock, valued at $2,821,826.94. This trade represents a 10.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Hardy sold 5,289 shares of NXP Semiconductors stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $235.00, for a total transaction of $1,242,915.00. Following the sale, the executive vice president owned 2,020 shares of the company's stock, valued at approximately $474,700. This trade represents a 72.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,611 shares of company stock valued at $3,182,068 in the last ninety days. 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.

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