105,970 Shares in NXP Semiconductors N.V. $NXPI Purchased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. acquired a new stake in shares of NXP Semiconductors N.V. (NASDAQ:NXPI) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 105,970 shares of the semiconductor provider’s stock, valued at approximately $25,059,000.

Other hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC purchased a new position in NXP Semiconductors in the 3rd quarter worth about $1,126,000. Ieq Capital LLC purchased a new stake in NXP Semiconductors in the 2nd quarter valued at about $1,208,000. BlackRock Inc. purchased a new stake in NXP Semiconductors in the 2nd quarter valued at about $6,716,412,000. The Manufacturers Life Insurance Company purchased a new stake in NXP Semiconductors in the 2nd quarter valued at about $36,657,000. Finally, Pure Financial Advisors LLC bought a new position in NXP Semiconductors in the 2nd quarter worth about $695,000. Institutional investors own 90.54% of the company’s stock.

NXP Semiconductors Stock Performance

NXPI stock opened at $262.79 on Wednesday. NXP Semiconductors N.V. has a 1-year low of $183.00 and a 1-year high of $339.95. The business has a 50-day moving average price of $234.42 and a 200 day moving average price of $246.29. The company has a market capitalization of $66.24 billion, a P/E ratio of 20.66, a PEG ratio of 0.87 and a beta of 1.83. 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 earnings results on Tuesday, October 27th. The semiconductor provider reported $4.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.12 by $0.08. The company had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.76 billion. NXP Semiconductors had a net margin of 23.40% and a return on equity of 28.57%. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the business earned $3.11 EPS. As a group, equities research analysts forecast that NXP Semiconductors N.V. will post 13.81 EPS for the current fiscal year.

NXP Semiconductors Dividend Announcement

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

NXP Semiconductors declared that its board has approved a stock buyback program on Tuesday, October 27th that authorizes the company to repurchase $5 billion in shares. This repurchase authorization authorizes the semiconductor provider to buy shares of its stock through open market purchases. Share repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have recently commented on NXPI. Bank of America reaffirmed a “neutral” rating and set a $280.00 target price on shares of NXP Semiconductors in a research report on Wednesday, October 28th. Truist Financial lowered their price target on NXP Semiconductors from $310.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, October 28th. Morgan Stanley lowered their price target on NXP Semiconductors from $338.00 to $313.00 and set an “overweight” rating for the company in a report on Wednesday, October 28th. Stifel Nicolaus dropped their price objective on NXP Semiconductors from $265.00 to $250.00 and set a “hold” rating on the stock in a research note on Wednesday, October 28th. Finally, Citigroup reduced their price objective on NXP Semiconductors from $260.00 to $250.00 and set a “neutral” rating on the stock in a report on Wednesday, October 28th. Sixteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $295.78.

Insider Activity at NXP Semiconductors

In other news, EVP Christopher Jensen sold 3,355 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $240.00, for a total transaction of $805,200.00. Following the transaction, the executive vice president directly owned 288 shares in the company, valued at approximately $69,120. This trade represents a 92.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Micallef sold 1,000 shares of NXP Semiconductors stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $226.04, for a total transaction of $226,040.00. Following the transaction, the executive vice president directly owned 7,942 shares in the company, valued at approximately $1,795,209.68. The trade was 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 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.