DNB Asset Management AS Raises Stock Position in NXP Semiconductors N.V. $NXPI

DNB Asset Management AS boosted its stake in shares of NXP Semiconductors N.V. (NASDAQ:NXPI) by 4.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 48,976 shares of the semiconductor provider’s stock after purchasing an additional 2,008 shares during the period. DNB Asset Management AS’s holdings in NXP Semiconductors were worth $10,631,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. JPL Wealth Management LLC purchased a new stake in shares of NXP Semiconductors during the third quarter worth about $26,000. CNB Bank purchased a new position in NXP Semiconductors in the 3rd quarter valued at about $28,000. Wexford Capital LP acquired a new stake in NXP Semiconductors in the 3rd quarter worth about $31,000. Kelleher Financial Advisors acquired a new stake in NXP Semiconductors in the 3rd quarter worth about $31,000. Finally, Community Bank N.A. purchased a new stake in NXP Semiconductors during the 3rd quarter worth approximately $37,000. 90.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NXPI shares. 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 research report on Wednesday, April 29th. Mizuho boosted their price target on NXP Semiconductors from $188.00 to $200.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 29th. TD Cowen increased their price objective on NXP Semiconductors from $250.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Truist Financial raised their price objective on NXP Semiconductors from $255.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Morgan Stanley upped their target price on shares of NXP Semiconductors from $299.00 to $335.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $294.25.

Insider Activity

In related news, EVP Andrew Micallef sold 1,000 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $194.58, for a total value of $194,580.00. Following the completion of the transaction, the executive vice president directly owned 9,942 shares in the company, valued at approximately $1,934,514.36. This represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Andrew Hardy sold 5,289 shares of the firm’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $235.00, for a total value of $1,242,915.00. Following the sale, the executive vice president directly owned 2,020 shares of the company’s stock, valued at approximately $474,700. This trade represents a 72.36% 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. In the last 90 days, insiders have sold 10,865 shares of company stock valued at $2,508,416. 0.12% of the stock is currently owned by company insiders.

NXP Semiconductors Price Performance

NASDAQ NXPI opened at $291.50 on Monday. The business’s fifty day simple moving average is $224.91 and its 200-day simple moving average is $223.13. 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 firm has a market cap of $73.60 billion, a PE ratio of 27.89, a P/E/G ratio of 1.05 and a beta of 1.77. NXP Semiconductors N.V. has a 52 week low of $183.00 and a 52 week high of $306.62.

NXP Semiconductors (NASDAQ:NXPI) last released its quarterly earnings data on Wednesday, April 29th. The semiconductor provider reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period last year, the business earned $2.64 earnings per share. NXP Semiconductors’s revenue was up 12.2% compared to the same quarter last year. As a group, equities analysts anticipate that NXP Semiconductors N.V. will post 13.38 earnings per share for the current year.

NXP Semiconductors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Wednesday, March 25th were issued a dividend of $1.014 per share. The ex-dividend date was Wednesday, March 25th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.4%. NXP Semiconductors’s dividend payout ratio (DPR) is currently 38.85%.

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.