NXP Semiconductors (NASDAQ:NXPI) Director Anthony Foxx Sells 400 Shares of Stock

Key Points

• Director Anthony Foxx sold 400 NXP shares for $263.60 each, totaling $105,440. After the sale, he held 2,942 shares, an 11.97% reduction in his position.
• NXP beat quarterly expectations, reporting earnings of $4.20 per share and revenue of $3.79 billion; revenue rose 19.3% year over year. The board also authorized a $5 billion stock repurchase program.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $295.78.

NXP Semiconductors N.V. (NASDAQ:NXPI - Get Free Report) Director Anthony Foxx sold 400 shares of NXP Semiconductors stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $263.60, for a total transaction of $105,440.00. Following the completion of the sale, the director directly owned 2,942 shares in the company, valued at $775,511.20. This represents a 11.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

NXP Semiconductors Price Performance

Shares of NASDAQ NXPI opened at $244.43 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.47 and a current ratio of 2.12. The firm has a fifty day moving average of $235.65 and a 200 day moving average of $246.45. The firm has a market cap of $61.61 billion, a PE ratio of 19.22, a PEG ratio of 0.90 and a beta of 1.83. NXP Semiconductors N.V. has a one year low of $183.00 and a one year high of $339.95.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The semiconductor provider reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.12 by $0.08. NXP Semiconductors had a net margin of 23.40% and a return on equity of 28.57%. The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same period last year, the firm posted $3.11 earnings per share. The company's revenue was up 19.3% compared to the same quarter last year. As a group, research analysts predict that NXP Semiconductors N.V. will post 13.81 EPS for the current fiscal year.

NXP Semiconductors declared that its board has authorized a stock repurchase program on Tuesday, October 27th that authorizes the company to repurchase $5 billion in outstanding shares. This buyback authorization authorizes the semiconductor provider to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

NXP Semiconductors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Wednesday, September 16th were given a dividend of $1.0140 per share. This represents a $4.06 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Wednesday, September 16th. NXP Semiconductors's dividend payout ratio is 31.84%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a "hold (c+)" rating on shares of NXP Semiconductors in a report on Thursday, October 29th. Sanford C. Bernstein reiterated a "market perform" rating and set a $290.00 price objective (up from $270.00) on shares of NXP Semiconductors in a research note on Wednesday, July 29th. Cantor Fitzgerald reissued an "overweight" rating and set a $400.00 target price on shares of NXP Semiconductors in a report on Monday, October 26th. Mizuho decreased their target price on NXP Semiconductors from $200.00 to $190.00 and set an "underperform" rating on the stock in a research report on Wednesday, July 29th. Finally, Oppenheimer lifted their price target on NXP Semiconductors from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Sixteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $295.78.

Institutional Investors Weigh In On NXP Semiconductors

A number of hedge funds have recently modified their holdings of NXPI. Eurizon Capital SGR S.p.A. purchased a new position in shares of NXP Semiconductors during the third quarter worth about $185,059,000. Nikulski Financial Inc. purchased a new stake in shares of NXP Semiconductors in the 3rd quarter valued at about $206,000. CENTRAL TRUST Co purchased a new stake in shares of NXP Semiconductors in the 3rd quarter valued at about $92,000. Fifth Third Bancorp lifted its holdings in shares of NXP Semiconductors by 16.7% in the 3rd quarter. Fifth Third Bancorp now owns 19,619 shares of the semiconductor provider's stock valued at $4,660,000 after purchasing an additional 2,801 shares during the last quarter. Finally, FDx Advisors Inc. acquired a new stake in shares of NXP Semiconductors in the 3rd quarter valued at about $298,000. 90.54% of the stock is currently owned by institutional investors and hedge funds.

NXP Semiconductors Company Profile

NXP Semiconductors N.V. is a global semiconductor company that develops technologies for automotive, industrial, communications infrastructure, mobile, and Internet of Things applications. The company provides processing, connectivity, security, sensing, and power-management solutions that help enable connected and automated systems.

Its product portfolio includes microcontrollers and application processors, automotive networking and radar solutions, secure identification and authentication technologies, near-field communication products, radio-frequency power amplifiers, analog and mixed-signal devices, and wireless connectivity solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.