Provenance Wealth Advisors LLC Acquires New Shares in NXP Semiconductors N.V. $NXPI

Provenance Wealth Advisors LLC acquired a new stake in NXP Semiconductors N.V. (NASDAQ:NXPI) in the 3rd quarter, HoldingsChannel reports. The fund acquired 5,902 shares of the semiconductor provider’s stock, valued at approximately $1,402,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NXPI. BlackRock Inc. bought a new position in shares of NXP Semiconductors in the 2nd quarter valued at about $6,716,412,000. State Street Corp increased its stake in shares of NXP Semiconductors by 6.4% during the 2nd quarter. State Street Corp now owns 11,699,143 shares of the semiconductor provider’s stock worth $3,298,932,000 after purchasing an additional 702,099 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of NXP Semiconductors in the 2nd quarter valued at about $1,169,846,000. Van ECK Associates Corp bought a new stake in shares of NXP Semiconductors in the 2nd quarter valued at about $1,167,458,000. Finally, Jupiter Topco LLC bought a new stake in shares of NXP Semiconductors in the 2nd quarter valued at about $742,385,000. 90.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NXPI. JPMorgan Chase & Co. raised their target price on shares of NXP Semiconductors from $295.00 to $300.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. UBS Group downgraded NXP Semiconductors from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $305.00 to $270.00 in a research report on Monday, August 3rd. Wall Street Zen lowered NXP Semiconductors from a “buy” rating to a “hold” rating in a research note on Saturday, October 17th. Oppenheimer raised their price objective on NXP Semiconductors from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Finally, Evercore reaffirmed an “outperform” rating on shares of NXP Semiconductors in a research report on Wednesday, October 28th. Sixteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $295.78.

Insider Transactions at NXP Semiconductors

In other NXP Semiconductors news, EVP Christopher Jensen sold 3,355 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $240.00, for a total value of $805,200.00. Following the transaction, the executive vice president directly owned 288 shares of the company’s stock, valued at $69,120. This represents a 92.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Micallef sold 1,000 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $226.04, for a total transaction of $226,040.00. Following the completion of the transaction, the executive vice president directly owned 7,942 shares in the company, valued at approximately $1,795,209.68. This represents a 11.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.05% of the stock is currently owned by corporate insiders.

NXP Semiconductors Price Performance

NASDAQ:NXPI opened at $262.79 on Wednesday. NXP Semiconductors N.V. has a one year low of $183.00 and a one year high of $339.95. The company has a market cap of $66.24 billion, a P/E ratio of 20.66, a P/E/G ratio of 0.87 and a beta of 1.83. The firm’s fifty day moving average price is $234.42 and its two-hundred day moving average price is $246.29. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.12 and a quick ratio of 1.47.

NXP Semiconductors (NASDAQ:NXPI) last issued its quarterly earnings data on Tuesday, October 27th. The semiconductor provider reported $4.20 earnings per share for the quarter, beating the consensus estimate of $4.12 by $0.08. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.76 billion. NXP Semiconductors had a net margin of 23.40% and a return on equity of 28.57%. The company’s revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.11 earnings per share. Equities analysts expect that NXP Semiconductors N.V. will post 13.81 earnings per share for the current year.

NXP Semiconductors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Wednesday, September 16th were paid a $1.0140 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $4.06 dividend on an annualized basis and a yield of 1.5%. NXP Semiconductors’s dividend payout ratio is 31.92%.

NXP Semiconductors declared that its Board of Directors has authorized a share buyback program on Tuesday, October 27th that permits the company to buy back $5 billion in outstanding shares. This buyback authorization permits the semiconductor provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

About NXP Semiconductors

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.