SEB Asset Management AB Takes $11.45 Million Position in NXP Semiconductors N.V. $NXPI

Key Points

• SEB Asset Management AB opened a new position in NXP Semiconductors, buying 58,152 shares valued at about $11.45 million in the first quarter.
• NXP reported strong quarterly results, with earnings of $3.05 per share versus $2.98 expected and revenue of $3.18 billion, up 12.2% year over year.
• Wall Street remains generally positive on the stock, with an average Moderate Buy rating and a consensus price target of $306.59, while the company also pays a quarterly dividend yielding about 1.5%.

SEB Asset Management AB acquired a new position in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 58,152 shares of the semiconductor provider's stock, valued at approximately $11,448,000.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its holdings in NXP Semiconductors by 20.6% during the 4th quarter. Brighton Jones LLC now owns 1,276 shares of the semiconductor provider's stock worth $265,000 after acquiring an additional 218 shares during the period. NewEdge Advisors LLC boosted its position in shares of NXP Semiconductors by 3.4% during the 1st quarter. NewEdge Advisors LLC now owns 7,021 shares of the semiconductor provider's stock valued at $1,334,000 after purchasing an additional 234 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in NXP Semiconductors by 31.7% during the second quarter. EverSource Wealth Advisors LLC now owns 777 shares of the semiconductor provider's stock worth $170,000 after purchasing an additional 187 shares during the period. Marshall Wace LLP grew its stake in NXP Semiconductors by 887.0% during the second quarter. Marshall Wace LLP now owns 36,659 shares of the semiconductor provider's stock worth $8,010,000 after purchasing an additional 32,945 shares during the period. Finally, Gamco Investors INC. ET AL bought a new stake in NXP Semiconductors in the second quarter worth approximately $555,000. Institutional investors own 90.54% of the company's stock.

NXP Semiconductors Trading Up 0.2%

Shares of NXP Semiconductors stock opened at $267.18 on Tuesday. The company has a market capitalization of $67.45 billion, a P/E ratio of 25.57, a price-to-earnings-growth ratio of 0.96 and a beta of 1.79. The stock has a fifty day simple moving average of $297.48 and a 200 day simple moving average of $251.02. NXP Semiconductors N.V. has a 12-month low of $183.00 and a 12-month 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.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The semiconductor provider reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.07. The business had revenue of $3.18 billion for the quarter, compared to analysts' expectations 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 was up 12.2% on a year-over-year basis. During the same period last year, the business earned $2.64 EPS. On average, sell-side analysts anticipate that NXP Semiconductors N.V. will post 13.49 earnings per share for the current fiscal year.

NXP Semiconductors Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Evercore boosted their price target on NXP Semiconductors from $260.00 to $320.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Morgan Stanley raised their price objective on shares of NXP Semiconductors from $299.00 to $335.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. Stifel Nicolaus lifted their price objective on shares of NXP Semiconductors from $215.00 to $250.00 and gave the company a "hold" rating in a research note on Friday, April 24th. Wolfe Research boosted their target price on shares of NXP Semiconductors from $270.00 to $320.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Finally, Citigroup reissued a "neutral" rating on shares of NXP Semiconductors in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $306.59.

Insider Activity at NXP Semiconductors

In other NXP Semiconductors news, EVP Andrew Micallef sold 1,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $315.57, for a total value of $315,570.00. Following the completion of the sale, the executive vice president owned 8,942 shares in the company, valued at approximately $2,821,826.94. This trade represents a 10.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher L. Jensen sold 4,576 shares of the stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $234.03, for a total transaction of $1,070,921.28. Following the completion of the sale, the executive vice president owned 5,389 shares of the company's stock, valued at approximately $1,261,187.67. This trade represents a 45.92% 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 have sold 12,611 shares of company stock valued at $3,182,068 over the last ninety days. Corporate insiders own 0.05% of the company's stock.

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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