NXP Semiconductors (NASDAQ:NXPI) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its stake in NXP Semiconductors (NASDAQ:NXPI) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 283,136 shares of the semiconductor provider’s stock after selling 7,836 shares during the period. Truist Financial Corp owned approximately 0.11% of NXP Semiconductors worth $76,189,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in NXPI. Old North State Trust LLC boosted its stake in shares of NXP Semiconductors by 10.1% during the 2nd quarter. Old North State Trust LLC now owns 1,230 shares of the semiconductor provider’s stock worth $331,000 after acquiring an additional 113 shares in the last quarter. NewEdge Advisors LLC grew its holdings in NXP Semiconductors by 50.7% in the second quarter. NewEdge Advisors LLC now owns 9,560 shares of the semiconductor provider’s stock valued at $2,572,000 after purchasing an additional 3,216 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of NXP Semiconductors by 6.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 65,103 shares of the semiconductor provider’s stock valued at $17,521,000 after buying an additional 3,935 shares in the last quarter. Nemes Rush Group LLC increased its position in shares of NXP Semiconductors by 1.5% in the second quarter. Nemes Rush Group LLC now owns 30,835 shares of the semiconductor provider’s stock valued at $8,297,000 after buying an additional 467 shares in the last quarter. Finally, Magnolia Capital Advisors LLC purchased a new stake in shares of NXP Semiconductors in the 2nd quarter worth about $1,097,000. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Analyst Upgrades and Downgrades

NXPI has been the subject of a number of research reports. Needham & Company LLC lifted their target price on shares of NXP Semiconductors from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com downgraded NXP Semiconductors from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Oppenheimer increased their price objective on NXP Semiconductors from $295.00 to $330.00 and gave the company an “outperform” rating in a research note on Friday, July 12th. Barclays boosted their target price on shares of NXP Semiconductors from $280.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Finally, Citigroup boosted their price objective on shares of NXP Semiconductors from $150.00 to $220.00 and gave the company a “sell” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $294.89.

NXP Semiconductors Stock Performance

Shares of NASDAQ:NXPI opened at $232.22 on Wednesday. The firm has a market capitalization of $59.37 billion, a PE ratio of 21.44, a P/E/G ratio of 2.51 and a beta of 1.49. NXP Semiconductors has a 12 month low of $167.21 and a 12 month high of $296.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.21 and a quick ratio of 1.52. The business has a 50-day moving average of $242.30 and a two-hundred day moving average of $253.69.

NXP Semiconductors (NASDAQ:NXPI) last announced its earnings results on Monday, July 22nd. The semiconductor provider reported $3.20 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.38. The company had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.13 billion. NXP Semiconductors had a return on equity of 35.65% and a net margin of 21.21%. The company’s revenue was down 5.2% on a year-over-year basis. During the same period last year, the firm earned $3.04 earnings per share. As a group, research analysts forecast that NXP Semiconductors will post 11.97 earnings per share for the current year.

NXP Semiconductors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Thursday, September 12th will be paid a $1.014 dividend. The ex-dividend date is Thursday, September 12th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.75%. NXP Semiconductors’s dividend payout ratio (DPR) is presently 37.40%.

Insider Activity at NXP Semiconductors

In related news, insider Julie Southern acquired 146 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was bought at an average cost of $257.54 per share, with a total value of $37,600.84. Following the acquisition, the insider now directly owns 11,297 shares in the company, valued at $2,909,429.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other NXP Semiconductors news, EVP Jennifer Wuamett sold 3,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $232.35, for a total transaction of $813,225.00. Following the transaction, the executive vice president now owns 30,269 shares of the company’s stock, valued at approximately $7,033,002.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Julie Southern purchased 146 shares of the stock in a transaction dated Tuesday, July 30th. The stock was purchased at an average price of $257.54 per share, with a total value of $37,600.84. Following the completion of the acquisition, the insider now directly owns 11,297 shares in the company, valued at approximately $2,909,429.38. The disclosure for this purchase can be found here. 0.11% of the stock is currently owned by corporate insiders.

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.