State Street Corp Boosts Position in NXP Semiconductors N.V. $NXPI

Key Points

• State Street increased its NXP Semiconductors position by 6.4% in the second quarter, adding 702,099 shares to own 11.7 million shares valued at approximately $3.3 billion. Institutional investors collectively hold 90.54% of NXPI’s outstanding stock.
• NXP reported quarterly earnings of $3.61 per share on $3.50 billion in revenue, exceeding analyst estimates, while revenue rose 19.5% year over year. The company also declared a $1.014 quarterly dividend, equivalent to a 1.7% yield.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $305.65 versus the reported share price of $237.57. Ratings range from “underperform” to “overweight,” reflecting differing views on the stock’s outlook.

State Street Corp grew its position in NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 6.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,699,143 shares of the semiconductor provider's stock after buying an additional 702,099 shares during the period. State Street Corp owned 4.64% of NXP Semiconductors worth $3,298,932,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. MCF Advisors LLC increased its position in shares of NXP Semiconductors by 25.3% in the 4th quarter. MCF Advisors LLC now owns 213 shares of the semiconductor provider's stock valued at $46,000 after purchasing an additional 43 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in NXP Semiconductors by 2.0% in the first quarter. Gamco Investors INC. ET AL now owns 2,305 shares of the semiconductor provider's stock valued at $454,000 after purchasing an additional 45 shares in the last quarter. CNB Bank boosted its holdings in NXP Semiconductors by 48.8% in the fourth quarter. CNB Bank now owns 180 shares of the semiconductor provider's stock valued at $39,000 after purchasing an additional 59 shares in the last quarter. Ballast Advisors LLC increased its stake in NXP Semiconductors by 0.7% in the first quarter. Ballast Advisors LLC now owns 9,078 shares of the semiconductor provider's stock valued at $1,787,000 after purchasing an additional 61 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its holdings in NXP Semiconductors by 6.1% during the first quarter. Chicago Partners Investment Group LLC now owns 1,200 shares of the semiconductor provider's stock worth $236,000 after purchasing an additional 69 shares in the last quarter. Institutional investors and hedge funds own 90.54% of the company's stock.

NXP Semiconductors Stock Up 2.2%

Shares of NASDAQ NXPI opened at $237.57 on Wednesday. The company has a quick ratio of 1.36, a current ratio of 2.04 and a debt-to-equity ratio of 0.88. NXP Semiconductors N.V. has a 52 week low of $183.00 and a 52 week high of $339.95. The firm has a 50-day moving average price of $237.52 and a 200 day moving average price of $251.65. The stock has a market capitalization of $59.91 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 0.79 and a beta of 1.81.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last posted its earnings results on Wednesday, July 29th. The semiconductor provider reported $3.61 earnings per share for the quarter, beating the consensus estimate of $3.52 by $0.09. The firm had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.47 billion. NXP Semiconductors had a net margin of 22.56% and a return on equity of 27.83%. The firm's revenue for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the firm posted $2.72 EPS. Equities research analysts anticipate that NXP Semiconductors N.V. will post 13.73 EPS for the current fiscal year.

NXP Semiconductors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 16th will be given a dividend of $1.014 per share. The ex-dividend date is Wednesday, September 16th. This represents a $4.06 annualized dividend and a yield of 1.7%. NXP Semiconductors's dividend payout ratio is 34.64%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NXPI shares. Citigroup reissued a "neutral" rating on shares of NXP Semiconductors in a research report on Monday, July 13th. Morgan Stanley lifted their target price on NXP Semiconductors from $335.00 to $338.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. UBS Group reissued a "neutral" rating and issued a $270.00 target price (down from $305.00) on shares of NXP Semiconductors in a report on Monday, August 3rd. Mizuho decreased their price objective on NXP Semiconductors from $200.00 to $190.00 and set an "underperform" rating for the company in a report on Wednesday, July 29th. Finally, Needham & Company LLC restated a "buy" rating and set a $300.00 target price on shares of NXP Semiconductors in a research report on Wednesday, July 29th. Sixteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $305.65.

Insider Transactions at NXP Semiconductors

In related news, EVP Andrew Micallef sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $226.04, for a total value of $226,040.00. Following the sale, the executive vice president directly owned 7,942 shares of the company's stock, valued at approximately $1,795,209.68. This trade represents a 11.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.05% of the company's stock.

About NXP Semiconductors

NXP Semiconductors N.V. NASDAQ: NXPI is a global semiconductor company headquartered in Eindhoven, the Netherlands. The company develops and sells high-performance mixed-signal and standard semiconductor products used in automotive, industrial, communications infrastructure, mobile, and consumer applications.

Its product portfolio includes microcontrollers and application processors, automotive networking and radar solutions, connectivity chips, analog and interface devices, radio-frequency power products, and security technologies.

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