Oak Associates Ltd. OH Has $33.58 Million Stock Holdings in NXP Semiconductors N.V. $NXPI

Key Points

• Oak Associates Ltd. OH reduced its stake in NXP Semiconductors by 10.5% in the first quarter, but still held 170,563 shares valued at about $33.6 million. NXP remains one of the firm’s larger positions.
• NXP reported better-than-expected quarterly results, with EPS of $3.05 topping estimates and revenue of $3.18 billion also above forecasts. Revenue rose 12.2% year over year, and management’s earnings showed strong profitability.
• The company continues to return cash to shareholders and has drawn broadly positive analyst sentiment. NXP paid a quarterly dividend of $1.014 per share, while analysts currently rate the stock a Moderate Buy with an average price target of $306.59.

Oak Associates Ltd. OH decreased its position in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 10.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,563 shares of the semiconductor provider's stock after selling 20,000 shares during the period. NXP Semiconductors makes up 2.3% of Oak Associates Ltd. OH's holdings, making the stock its 13th biggest position. Oak Associates Ltd. OH owned 0.07% of NXP Semiconductors worth $33,577,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. JPL Wealth Management LLC bought a new position in NXP Semiconductors during the third quarter worth about $26,000. SHP Wealth Management acquired a new stake in NXP Semiconductors in the 4th quarter worth about $27,000. Acumen Wealth Advisors LLC bought a new stake in NXP Semiconductors in the 4th quarter valued at about $28,000. Jessup Wealth Management Inc acquired a new position in shares of NXP Semiconductors during the 4th quarter worth approximately $29,000. Finally, Wexford Capital LP acquired a new position in shares of NXP Semiconductors during the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 90.54% of the company's stock.

Insiders Place Their Bets

In other news, EVP Andrew Micallef sold 1,000 shares of the business's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $315.57, for a total transaction of $315,570.00. Following the completion of the transaction, the executive vice president owned 8,942 shares of the company's stock, valued at approximately $2,821,826.94. The trade was a 10.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher L. Jensen sold 1,746 shares of the company's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $316.53, for a total value of $552,661.38. Following the sale, the executive vice president owned 3,643 shares of the company's stock, valued at approximately $1,153,118.79. This represents a 32.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.05% of the stock is currently owned by insiders.

NXP Semiconductors Stock Performance

Shares of NXP Semiconductors stock opened at $277.29 on Friday. The company has a 50 day moving average of $296.33 and a 200-day moving average of $252.24. NXP Semiconductors N.V. has a 1-year low of $183.00 and a 1-year 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 company has a market cap of $70.01 billion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 1.16 and a beta of 1.79.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The semiconductor provider reported $3.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.98 by $0.07. NXP Semiconductors had a net margin of 21.03% and a return on equity of 26.75%. The business had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.14 billion. During the same period last year, the firm posted $2.64 earnings per share. The firm's quarterly revenue was up 12.2% compared to the same quarter last year. As a group, equities research analysts forecast that NXP Semiconductors N.V. will post 13.46 earnings per share for the current fiscal year.

NXP Semiconductors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Wednesday, June 24th were paid a $1.014 dividend. The ex-dividend date was Wednesday, June 24th. This represents a $4.06 annualized dividend and a dividend yield of 1.5%. NXP Semiconductors's dividend payout ratio (DPR) is presently 38.85%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NXPI shares. Susquehanna lifted their price target on shares of NXP Semiconductors from $210.00 to $250.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. TD Cowen increased their price target on NXP Semiconductors from $310.00 to $340.00 and gave the stock a "buy" rating in a research report on Monday, July 13th. Jefferies Financial Group raised their price objective on NXP Semiconductors from $265.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Wall Street Zen raised NXP Semiconductors from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of NXP Semiconductors in a research report on Wednesday, April 29th. Sixteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $306.59.

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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