NXP Semiconductors N.V. (NASDAQ:NXPI) Shares Purchased by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group Inc. increased its stake in NXP Semiconductors N.V. by 4.0%, holding 75,197 shares valued at $14.29 million as reported in their latest SEC filing.
• Multiple institutional investors have recently adjusted their positions in NXP Semiconductors, with several increasing stakes significantly, contributing to over 90% of the company's stock being owned by hedge funds and other institutions.
• Analysts are optimistic about NXP Semiconductors, with a consensus rating of "Moderate Buy" and an average price target of $256.05, reflecting increased interest and confidence in the company's future performance.

PNC Financial Services Group Inc. boosted its stake in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 4.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 75,197 shares of the semiconductor provider's stock after purchasing an additional 2,900 shares during the period. PNC Financial Services Group Inc.'s holdings in NXP Semiconductors were worth $14,292,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Valley National Advisers Inc. grew its position in shares of NXP Semiconductors by 118.9% in the first quarter. Valley National Advisers Inc. now owns 232 shares of the semiconductor provider's stock valued at $43,000 after purchasing an additional 126 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in shares of NXP Semiconductors in the fourth quarter valued at about $44,000. Rossby Financial LCC acquired a new stake in NXP Semiconductors during the first quarter worth about $46,000. GoalVest Advisory LLC boosted its holdings in NXP Semiconductors by 472.9% in the 1st quarter. GoalVest Advisory LLC now owns 275 shares of the semiconductor provider's stock valued at $52,000 after purchasing an additional 227 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its stake in shares of NXP Semiconductors by 112.1% in the 1st quarter. Cullen Frost Bankers Inc. now owns 316 shares of the semiconductor provider's stock valued at $60,000 after buying an additional 167 shares during the period. Institutional investors and hedge funds own 90.54% of the company's stock.

Insider Activity

In other news, CFO William Betz sold 6,785 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $227.34, for a total value of $1,542,501.90. Following the sale, the chief financial officer directly owned 1,520 shares in the company, valued at $345,556.80. This represents a 81.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jennifer Wuamett sold 9,132 shares of NXP Semiconductors stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $230.00, for a total value of $2,100,360.00. Following the transaction, the executive vice president owned 27,088 shares of the company's stock, valued at $6,230,240. This represents a 25.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NXPI shares. TD Cowen lifted their target price on NXP Semiconductors from $185.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on shares of NXP Semiconductors in a research report on Thursday, July 10th. They issued a "buy" rating and a $276.00 target price on the stock. Truist Financial boosted their price target on shares of NXP Semiconductors from $230.00 to $252.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. increased their price objective on shares of NXP Semiconductors from $205.00 to $240.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $250.00 target price on shares of NXP Semiconductors in a research note on Tuesday, July 22nd. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, NXP Semiconductors has a consensus rating of "Moderate Buy" and a consensus target price of $256.05.

NXP Semiconductors Stock Performance

Shares of NXPI stock traded down $2.55 during trading hours on Wednesday, hitting $205.92. The stock had a trading volume of 2,760,722 shares, compared to its average volume of 2,740,727. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.74 and a quick ratio of 1.20. The firm has a market capitalization of $51.92 billion, a PE ratio of 24.54, a PEG ratio of 2.37 and a beta of 1.41. The stock's 50 day moving average is $217.43 and its 200 day moving average is $206.82. NXP Semiconductors N.V. has a twelve month low of $148.09 and a twelve month high of $259.74.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The semiconductor provider reported $2.72 EPS for the quarter, beating analysts' consensus estimates of $2.66 by $0.06. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.90 billion. NXP Semiconductors had a net margin of 17.72% and a return on equity of 27.99%. NXP Semiconductors's quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.20 earnings per share. As a group, research analysts forecast that NXP Semiconductors N.V. will post 10.28 earnings per share for the current fiscal year.

NXP Semiconductors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 25th were paid a $1.014 dividend. The ex-dividend date was Wednesday, June 25th. This represents a $4.06 annualized dividend and a dividend yield of 2.0%. NXP Semiconductors's dividend payout ratio (DPR) is 48.39%.

NXP Semiconductors Company Profile

NXP Semiconductors N.V. offers various semiconductor products. The company's product portfolio includes microcontrollers; application processors, including i.MX application processors, and i.MX 8 and 9 family of applications processors; communication processors; wireless connectivity solutions, such as near field communications, ultra-wideband, Bluetooth low-energy, Zigbee, and Wi-Fi and Wi-Fi/Bluetooth integrated SoCs; analog and interface devices; radio frequency power amplifiers; and security controllers, as well as semiconductor-based environmental and inertial sensors, including pressure, inertial, magnetic, and gyroscopic sensors.