Sound Shore Management Inc. CT Acquires New Position in NXP Semiconductors N.V. $NXPI

Sound Shore Management Inc. CT bought a new position in NXP Semiconductors N.V. (NASDAQ:NXPI) in the first quarter, Holdings Channel reports. The firm bought 410,653 shares of the semiconductor provider’s stock, valued at approximately $80,841,000. NXP Semiconductors accounts for approximately 2.7% of Sound Shore Management Inc. CT’s investment portfolio, making the stock its 11th largest position.

Several other large investors also recently bought and sold shares of NXPI. Norges Bank acquired a new position in NXP Semiconductors during the 4th quarter valued at approximately $613,029,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of NXP Semiconductors by 34,719.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,680,395 shares of the semiconductor provider’s stock worth $581,807,000 after buying an additional 2,672,697 shares during the period. Invesco Ltd. grew its holdings in shares of NXP Semiconductors by 17.2% during the fourth quarter. Invesco Ltd. now owns 5,574,672 shares of the semiconductor provider’s stock valued at $1,210,038,000 after buying an additional 818,985 shares during the last quarter. Amundi grew its holdings in shares of NXP Semiconductors by 46.6% during the fourth quarter. Amundi now owns 2,203,488 shares of the semiconductor provider’s stock valued at $478,270,000 after buying an additional 700,753 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its position in shares of NXP Semiconductors by 56.3% in the 2nd quarter. Rafferty Asset Management LLC now owns 1,916,922 shares of the semiconductor provider’s stock valued at $418,828,000 after acquiring an additional 690,277 shares during the period. Hedge funds and other institutional investors own 90.54% of the company’s stock.

NXP Semiconductors Price Performance

NXP Semiconductors stock opened at $266.53 on Monday. The business’s 50-day moving average price is $298.25 and its 200 day moving average price is $250.69. 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 $67.29 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 0.96 and a beta of 1.79. NXP Semiconductors N.V. has a 52 week low of $183.00 and a 52 week high of $339.95.

NXP Semiconductors (NASDAQ:NXPI) last announced its quarterly earnings results on Wednesday, April 29th. The semiconductor provider reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.98 by $0.07. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.14 billion. NXP Semiconductors had a return on equity of 26.75% and a net margin of 21.03%.NXP Semiconductors’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.64 earnings per share. As a group, sell-side analysts anticipate that NXP Semiconductors N.V. will post 13.49 earnings per share for the current year.

NXP Semiconductors Dividend Announcement

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

Insider Activity at NXP Semiconductors

In related news, EVP Christopher L. Jensen sold 1,746 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $316.53, for a total transaction of $552,661.38. Following the sale, the executive vice president owned 3,643 shares in the company, valued at approximately $1,153,118.79. This trade represents a 32.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the transaction, the executive vice president directly owned 2,020 shares of the company’s stock, valued at $474,700. The trade was a 72.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 12,611 shares of company stock worth $3,182,068. 0.05% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Raymond James Financial raised their target price on NXP Semiconductors from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. The Goldman Sachs Group reissued a “buy” rating on shares of NXP Semiconductors in a report on Wednesday, April 29th. Jefferies Financial Group raised their price objective on NXP Semiconductors from $265.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. 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. Finally, Evercore increased their price target on shares of NXP Semiconductors from $260.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, NXP Semiconductors has a consensus rating of “Moderate Buy” and a consensus price target of $307.27.

NXP Semiconductors Company 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.