Swiss National Bank Sells 2,900 Shares of NXP Semiconductors N.V. (NASDAQ:NXPI)

Key Points

• The Swiss National Bank reduced its stake in NXP Semiconductors N.V. by 0.4%, resulting in ownership of 716,729 shares worth approximately $136 million.
• Multiple institutional investors, including Massachusetts Financial Services and Pictet Asset Management, have increased their stakes in NXP Semiconductors during the first quarter of 2023, reflecting investor confidence in the company.
• NXP Semiconductors reported earnings that exceeded analysts' expectations, with a $2.72 EPS for the quarter and a revenue of $2.93 billion, although this represents a 6.4% decline compared to the previous year.

Swiss National Bank lowered its position in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 0.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 716,729 shares of the semiconductor provider's stock after selling 2,900 shares during the quarter. Swiss National Bank owned 0.28% of NXP Semiconductors worth $136,222,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Hemington Wealth Management boosted its position in NXP Semiconductors by 50.0% during the 1st quarter. Hemington Wealth Management now owns 177 shares of the semiconductor provider's stock worth $33,000 after acquiring an additional 59 shares during the period. Valley National Advisers Inc. raised its stake in shares of NXP Semiconductors by 118.9% during the 1st quarter. Valley National Advisers Inc. now owns 232 shares of the semiconductor provider's stock worth $43,000 after purchasing an additional 126 shares in the last quarter. Ameriflex Group Inc. bought a new position in shares of NXP Semiconductors in the 4th quarter valued at approximately $44,000. Rossby Financial LCC bought a new position in shares of NXP Semiconductors in the 1st quarter valued at approximately $46,000. Finally, GoalVest Advisory LLC raised its stake in shares of NXP Semiconductors by 472.9% in the 1st quarter. GoalVest Advisory LLC now owns 275 shares of the semiconductor provider's stock valued at $52,000 after acquiring an additional 227 shares in the last quarter. Institutional investors own 90.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. The Goldman Sachs Group began coverage on NXP Semiconductors in a report on Thursday, July 10th. They issued a "buy" rating and a $276.00 target price on the stock. TD Cowen lifted their price objective on NXP Semiconductors from $185.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Susquehanna lifted their price objective on NXP Semiconductors from $195.00 to $210.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Needham & Company LLC lifted their price objective on NXP Semiconductors from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Finally, KeyCorp lifted their price objective on NXP Semiconductors from $240.00 to $275.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy 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 $256.05.

NXP Semiconductors Trading Up 3.2%

Shares of NXPI stock traded up $7.00 on Wednesday, reaching $227.05. 1,453,397 shares of the stock were exchanged, compared to its average volume of 3,013,509. The stock has a market cap of $57.24 billion, a PE ratio of 27.14, a P/E/G ratio of 2.33 and a beta of 1.41. NXP Semiconductors N.V. has a one year low of $148.09 and a one year high of $259.74. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.74 and a quick ratio of 1.20. The stock has a 50 day moving average price of $218.85 and a 200 day moving average price of $206.58.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last released its earnings results on Monday, July 21st. The semiconductor provider reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.66 by $0.06. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.90 billion. NXP Semiconductors had a return on equity of 27.99% and a net margin of 17.72%. The firm's quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.20 earnings per share. Equities research analysts forecast that NXP Semiconductors N.V. will post 10.28 EPS for the current fiscal year.

NXP Semiconductors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 25th were given a dividend of $1.014 per share. The ex-dividend date was Wednesday, June 25th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.8%. NXP Semiconductors's payout ratio is presently 48.39%.

Insiders Place Their Bets

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