SummitTX Capital L.P. Sells 24,515 Shares of NXP Semiconductors N.V. $NXPI

Key Points

• SummitTX Capital reduced its NXP Semiconductors stake by 30.7%, selling 24,515 shares in the first quarter and retaining 55,209 shares valued at approximately $10.9 million. Institutional investors collectively own 90.54% of the company.
• Analysts maintain a generally positive outlook, with 16 Buy ratings, eight Holds, and one Sell. NXP has an average “Moderate Buy” rating and an average price target of $307.73.
• NXP exceeded quarterly expectations with earnings of $3.05 per share and revenue of $3.18 billion, up 12.2% year over year. The company also pays a quarterly dividend of $1.014, representing an annualized yield of about 1.5%.

SummitTX Capital L.P. cut its stake in NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 30.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,209 shares of the semiconductor provider's stock after selling 24,515 shares during the quarter. SummitTX Capital L.P.'s holdings in NXP Semiconductors were worth $10,868,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MCF Advisors LLC lifted its position in NXP Semiconductors by 25.3% during the fourth quarter. MCF Advisors LLC now owns 213 shares of the semiconductor provider's stock valued at $46,000 after purchasing an additional 43 shares in the last quarter. Aptus Capital Advisors LLC lifted its holdings in NXP Semiconductors by 1.3% in the 4th quarter. Aptus Capital Advisors LLC now owns 3,464 shares of the semiconductor provider's stock worth $752,000 after purchasing an additional 43 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in NXP Semiconductors by 2.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 2,305 shares of the semiconductor provider's stock worth $454,000 after purchasing an additional 45 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its holdings in NXP Semiconductors by 0.6% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,426 shares of the semiconductor provider's stock valued at $1,829,000 after buying an additional 50 shares in the last quarter. Finally, IHT Wealth Management LLC raised its position in shares of NXP Semiconductors by 4.6% during the second quarter. IHT Wealth Management LLC now owns 1,193 shares of the semiconductor provider's stock valued at $261,000 after buying an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 90.54% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of NXP Semiconductors from $299.00 to $335.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. Barclays increased their price objective on shares of NXP Semiconductors from $295.00 to $340.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. Mizuho lifted their target price on NXP Semiconductors from $188.00 to $200.00 and gave the stock an "underperform" rating in a report on Wednesday, April 29th. The Goldman Sachs Group reissued a "buy" rating on shares of NXP Semiconductors in a research note on Wednesday, April 29th. Finally, Susquehanna lifted their price objective on NXP Semiconductors from $210.00 to $250.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. Sixteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $307.73.

NXP Semiconductors Price Performance

Shares of NASDAQ:NXPI opened at $269.24 on Monday. NXP Semiconductors N.V. has a 1 year low of $183.00 and a 1 year high of $339.95. The business has a 50 day simple moving average of $295.88 and a two-hundred day simple moving average of $252.56. The firm has a market capitalization of $67.98 billion, a PE ratio of 25.76, a price-to-earnings-growth ratio of 1.12 and a beta of 1.79. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.24 and a quick ratio of 1.55.

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, topping analysts' consensus estimates of $2.98 by $0.07. NXP Semiconductors had a net margin of 21.03% and a return on equity of 26.75%. The firm had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.14 billion. During the same period in the prior year, the business posted $2.64 earnings per share. The business's revenue for the quarter was up 12.2% on a year-over-year basis. On average, equities analysts predict that NXP Semiconductors N.V. will post 13.46 EPS for the current year.

NXP Semiconductors Announces Dividend

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

Insider Buying and Selling

In other news, EVP Andrew Micallef sold 1,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $315.57, for a total transaction 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 represents a 10.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher L. Jensen sold 1,746 shares of the firm's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $316.53, for a total value of $552,661.38. Following the completion of the transaction, the executive vice president owned 3,643 shares of the company's stock, valued at $1,153,118.79. This trade represents a 32.40% 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. Corporate insiders own 0.05% of the company's stock.

NXP Semiconductors Profile

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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