Soroban Capital Partners LP Buys New Stake in NXP Semiconductors N.V. $NXPI

Key Points

• Soroban Capital Partners acquired 863,266 NXP Semiconductors shares worth approximately $169.9 million, giving it a 0.34% stake. Institutional investors collectively own 90.54% of the company.
• NXP reported quarterly earnings of $3.05 per share and revenue of $3.18 billion, exceeding analyst estimates; revenue increased 12.2% year over year.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $307.73, while NXP pays a quarterly dividend of $1.014 per share, yielding about 1.5% annually.

Soroban Capital Partners LP bought a new position in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 863,266 shares of the semiconductor provider's stock, valued at approximately $169,943,000. NXP Semiconductors comprises 0.3% of Soroban Capital Partners LP's portfolio, making the stock its 20th largest position. Soroban Capital Partners LP owned 0.34% of NXP Semiconductors at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of NXP Semiconductors by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 13,612,546 shares of the semiconductor provider's stock worth $2,954,739,000 after purchasing an additional 293,558 shares during the period. State Street Corp boosted its stake in NXP Semiconductors by 0.5% during the 4th quarter. State Street Corp now owns 11,043,159 shares of the semiconductor provider's stock valued at $2,407,382,000 after purchasing an additional 55,098 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in NXP Semiconductors by 1.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,849,741 shares of the semiconductor provider's stock valued at $1,703,865,000 after buying an additional 121,419 shares during the last quarter. Invesco Ltd. grew its holdings in NXP Semiconductors by 17.2% in the 4th quarter. Invesco Ltd. now owns 5,574,672 shares of the semiconductor provider's stock valued at $1,210,038,000 after buying an additional 818,985 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in NXP Semiconductors by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 5,463,756 shares of the semiconductor provider's stock valued at $1,180,572,000 after buying an additional 30,804 shares during the last quarter. 90.54% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

NXP Semiconductors Trading Down 0.6%

Shares of NXPI opened at $267.67 on Tuesday. The stock's 50-day moving average price is $295.40 and its 200 day moving average price is $252.71. The company has a quick ratio of 1.55, a current ratio of 2.24 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $67.58 billion, a price-to-earnings ratio of 25.61, a P/E/G ratio of 1.12 and a beta of 1.79. NXP Semiconductors N.V. has a 12-month low of $183.00 and a 12-month high of $339.95.

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

NXP Semiconductors Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NXPI. Morgan Stanley upped their price target on NXP Semiconductors from $299.00 to $335.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. Citigroup restated a "neutral" rating on shares of NXP Semiconductors in a research note on Monday, July 13th. Evercore boosted their target price on shares of NXP Semiconductors from $260.00 to $320.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Weiss Ratings upgraded shares of NXP Semiconductors from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, May 4th. Finally, Sanford C. Bernstein upped their target price on shares of NXP Semiconductors from $240.00 to $270.00 and gave the company a "market perform" rating in a research note on Wednesday, April 29th. Sixteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, NXP Semiconductors currently has an average rating of "Moderate Buy" and an average price target of $307.73.

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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