Sumitomo Mitsui Trust Group Inc. Has $179.44 Million Stock Holdings in NXP Semiconductors N.V. $NXPI

Key Points

• Sumitomo Mitsui Trust Group trimmed its NXP Semiconductors stake by 0.7% in the first quarter, but still held 911,538 shares worth about $179.4 million as of its latest filing.
• NXP reported better-than-expected Q1 earnings, posting $3.05 EPS on $3.18 billion in revenue, with revenue up 12.2% year over year.
• Analysts remain cautiously positive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $302.27, while the company also recently paid a quarterly dividend of $1.014 per share.

Sumitomo Mitsui Trust Group Inc. decreased its position in NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 0.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 911,538 shares of the semiconductor provider's stock after selling 6,837 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.36% of NXP Semiconductors worth $179,445,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of NXPI. JPL Wealth Management LLC bought a new position in NXP Semiconductors in the 3rd quarter worth $26,000. SHP Wealth Management acquired a new position in NXP Semiconductors during the 4th quarter worth $27,000. Acumen Wealth Advisors LLC bought a new stake in NXP Semiconductors during the fourth quarter valued at about $28,000. Jessup Wealth Management Inc acquired a new stake in shares of NXP Semiconductors in the fourth quarter valued at about $29,000. Finally, Wexford Capital LP acquired a new stake in shares of NXP Semiconductors in the third quarter valued at about $31,000. 90.54% of the stock is currently owned by institutional investors and hedge funds.

NXP Semiconductors Stock Up 2.4%

NXPI stock opened at $290.54 on Friday. NXP Semiconductors N.V. has a twelve month low of $183.00 and a twelve month high of $339.95. 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 company has a market cap of $73.35 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 1.02 and a beta of 1.79. The business's 50-day simple moving average is $300.11 and its 200 day simple moving average is $248.42.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The semiconductor provider reported $3.05 EPS for the quarter, beating the consensus estimate of $2.98 by $0.07. NXP Semiconductors had a return on equity of 26.75% and a net margin of 21.03%.The firm had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $3.14 billion. During the same quarter in the prior year, the firm posted $2.64 EPS. The company's revenue for the quarter was up 12.2% on a year-over-year basis. On average, research analysts anticipate that NXP Semiconductors N.V. will post 13.4 earnings per share for the current year.

NXP Semiconductors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Wednesday, June 24th were given a $1.014 dividend. This represents a $4.06 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Wednesday, June 24th. NXP Semiconductors's dividend payout ratio (DPR) is 38.76%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Bank of America reissued a "neutral" rating and set a $230.00 price objective (down from $245.00) on shares of NXP Semiconductors in a research report on Monday, April 13th. JPMorgan Chase & Co. raised their target price on NXP Semiconductors from $250.00 to $295.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Truist Financial lifted their price target on NXP Semiconductors from $255.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Raymond James Financial increased their price objective on NXP Semiconductors from $250.00 to $300.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Finally, BNP Paribas Exane raised their price objective on shares of NXP Semiconductors from $270.00 to $310.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $302.27.

Insider Buying and Selling

In other NXP Semiconductors news, EVP Andrew Hardy sold 5,289 shares of NXP Semiconductors stock in a transaction on 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 sale, the executive vice president owned 2,020 shares in the company, valued at $474,700. The trade was a 72.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Micallef sold 1,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $315.57, for a total transaction of $315,570.00. Following the completion of the transaction, the executive vice president owned 8,942 shares of the company's stock, valued at approximately $2,821,826.94. This represents a 10.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 12,611 shares of company stock valued at $3,182,068 over the last ninety days. 0.05% of the stock is owned by company 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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