Skandinaviska Enskilda Banken AB publ Decreases Stake in NXP Semiconductors N.V. (NASDAQ:NXPI)

Key Points

• Skandinaviska Enskilda Banken AB reduced its holdings in NXP Semiconductors by 7.3% in Q1, selling 4,258 shares and retaining 54,326 shares valued at approximately $10.3 million.
• NXP Semiconductors reported earnings of $2.72 per share for Q2, exceeding analyst expectations of $2.66, despite a revenue decline of 6.4% year-over-year.
• Several analysts have raised their price targets for NXP Semiconductors, with Citigroup setting a new target of $275 and Goldman Sachs issuing a $276 target, indicating strong buy sentiment.

Skandinaviska Enskilda Banken AB publ cut its position in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 7.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,326 shares of the semiconductor provider's stock after selling 4,258 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in NXP Semiconductors were worth $10,325,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Dynamic Advisor Solutions LLC boosted its position in NXP Semiconductors by 15.2% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 5,281 shares of the semiconductor provider's stock valued at $1,004,000 after buying an additional 698 shares during the period. Sowell Financial Services LLC purchased a new stake in shares of NXP Semiconductors in the 1st quarter worth approximately $320,000. Farther Finance Advisors LLC lifted its position in shares of NXP Semiconductors by 133.5% in the 1st quarter. Farther Finance Advisors LLC now owns 2,153 shares of the semiconductor provider's stock worth $409,000 after purchasing an additional 1,231 shares during the period. M&T Bank Corp lifted its position in shares of NXP Semiconductors by 14.5% in the 1st quarter. M&T Bank Corp now owns 7,436 shares of the semiconductor provider's stock worth $1,413,000 after purchasing an additional 943 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in shares of NXP Semiconductors by 18.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 12,653 shares of the semiconductor provider's stock worth $2,418,000 after purchasing an additional 1,951 shares during the period. 90.54% of the stock is owned by hedge funds and other institutional investors.

NXP Semiconductors Stock Performance

Shares of NASDAQ:NXPI traded down $3.91 during midday trading on Wednesday, reaching $222.83. The company's stock had a trading volume of 399,413 shares, compared to its average volume of 3,028,060. The firm has a market capitalization of $56.18 billion, a PE ratio of 26.57, a P/E/G ratio of 2.58 and a beta of 1.40. The company has a quick ratio of 1.20, a current ratio of 1.74 and a debt-to-equity ratio of 0.99. The stock has a fifty day moving average of $215.83 and a 200 day moving average of $206.77. NXP Semiconductors N.V. has a twelve month low of $148.09 and a twelve month high of $264.54.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The semiconductor provider reported $2.72 EPS for the quarter, beating the consensus estimate 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%. The firm's revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the business earned $3.20 earnings per share. On average, equities analysts expect that NXP Semiconductors N.V. will post 10.28 EPS for the current fiscal year.

NXP Semiconductors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 25th were issued a dividend of $1.014 per share. This represents a $4.06 annualized dividend and a yield of 1.82%. The ex-dividend date was Wednesday, June 25th. NXP Semiconductors's payout ratio is 48.27%.

Wall Street Analyst Weigh In

NXPI has been the subject of several research reports. Truist Financial upped their price target on shares of NXP Semiconductors from $230.00 to $252.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Stifel Nicolaus upped their price target on shares of NXP Semiconductors from $170.00 to $210.00 and gave the stock a "hold" rating in a research report on Friday, July 18th. TD Cowen upped their price target on shares of NXP Semiconductors from $185.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group started coverage on shares of NXP Semiconductors in a research report on Thursday, July 10th. They set a "buy" rating and a $276.00 target price for the company. Finally, UBS Group increased their target price on shares of NXP Semiconductors from $250.00 to $276.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $256.05.

Insider Buying and Selling at NXP Semiconductors

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

About NXP Semiconductors

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.