Prudential PLC Has $3.06 Million Stock Holdings in NXP Semiconductors N.V. $NXPI

Key Points

• Prudential PLC cut its NXP Semiconductors stake by 60.5% in the fourth quarter, selling 21,533 shares and leaving it with 14,081 shares valued at about $3.06 million.
• NXP Semiconductors reported stronger-than-expected quarterly results, with EPS of $3.05 versus $2.98 expected and revenue of $3.18 billion, up 12.2% year over year.
• Wall Street remains broadly positive on the stock: the consensus rating is Moderate Buy, with an average price target of $294.25, while several analysts recently raised their targets and maintained bullish ratings.

Prudential PLC decreased its holdings in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 60.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,081 shares of the semiconductor provider's stock after selling 21,533 shares during the period. Prudential PLC's holdings in NXP Semiconductors were worth $3,056,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Tokio Marine Asset Management Co. Ltd. raised its holdings in NXP Semiconductors by 0.6% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,426 shares of the semiconductor provider's stock worth $1,829,000 after buying an additional 50 shares during the last quarter. IHT Wealth Management LLC raised its holdings in NXP Semiconductors by 4.6% during the second quarter. IHT Wealth Management LLC now owns 1,193 shares of the semiconductor provider's stock worth $261,000 after buying an additional 52 shares during the last quarter. Washington Capital Management Inc. raised its holdings in NXP Semiconductors by 1.8% during the fourth quarter. Washington Capital Management Inc. now owns 3,035 shares of the semiconductor provider's stock worth $659,000 after buying an additional 55 shares during the last quarter. Equitable Trust Co. raised its holdings in NXP Semiconductors by 0.7% during the fourth quarter. Equitable Trust Co. now owns 7,706 shares of the semiconductor provider's stock worth $1,673,000 after buying an additional 56 shares during the last quarter. Finally, Perigon Wealth Management LLC raised its holdings in NXP Semiconductors by 5.8% during the fourth quarter. Perigon Wealth Management LLC now owns 1,053 shares of the semiconductor provider's stock worth $229,000 after buying an additional 58 shares during the last quarter. Institutional investors and hedge funds own 90.54% of the company's stock.

NXP Semiconductors Stock Performance

NASDAQ NXPI opened at $295.96 on Friday. NXP Semiconductors N.V. has a 1 year low of $183.00 and a 1 year high of $339.95. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.24 and a quick ratio of 1.55. The firm has a market cap of $74.72 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 1.07 and a beta of 1.77. The company has a fifty day moving average price of $260.21 and a 200-day moving average price of $234.41.

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

NXP Semiconductors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Wednesday, March 25th were paid a $1.014 dividend. The ex-dividend date was Wednesday, March 25th. This represents a $4.06 annualized dividend and a dividend yield of 1.4%. NXP Semiconductors's dividend payout ratio is presently 38.85%.

Wall Street Analyst Weigh In

Several research firms have weighed in on NXPI. Morgan Stanley upped their price objective on shares of NXP Semiconductors from $299.00 to $335.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. The Goldman Sachs Group restated a "buy" rating on shares of NXP Semiconductors in a report on Wednesday, April 29th. Oppenheimer upped their price objective on shares of NXP Semiconductors from $250.00 to $300.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Bank of America restated a "neutral" rating and set a $230.00 price objective (down from $245.00) on shares of NXP Semiconductors in a report on Monday, April 13th. Finally, TD Cowen upped their price objective on shares of NXP Semiconductors from $250.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $294.25.

Insider Transactions at NXP Semiconductors

In related news, EVP Andrew Hardy sold 5,289 shares of the stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $235.00, for a total transaction of $1,242,915.00. Following the completion of the transaction, the executive vice president owned 2,020 shares in the company, valued at approximately $474,700. This represents a 72.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher L. Jensen sold 1,746 shares of NXP Semiconductors stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $316.53, for a total transaction of $552,661.38. Following the completion of the sale, the executive vice president directly owned 3,643 shares in the company, valued at approximately $1,153,118.79. This represents a 32.40% decrease in their position. 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 sold a total of 12,611 shares of company stock worth $3,061,078 in the last quarter. 0.05% of the stock is currently owned by corporate 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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