Letko Brosseau & Associates Inc. Purchases 2,075 Shares of NXP Semiconductors N.V. $NXPI

Letko Brosseau & Associates Inc. acquired a new position in shares of NXP Semiconductors N.V. (NASDAQ:NXPI) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,075 shares of the semiconductor provider’s stock, valued at approximately $493,000.

A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in NXP Semiconductors during the second quarter valued at $6,716,412,000. State Street Corp increased its stake in shares of NXP Semiconductors by 6.4% during the second 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 in the last quarter. Wellington Management Group LLP purchased a new stake in shares of NXP Semiconductors during the second quarter worth about $21,099,000. Bank of America Corp DE purchased a new stake in shares of NXP Semiconductors during the second quarter worth about $1,169,846,000. Finally, Van ECK Associates Corp acquired a new position in shares of NXP Semiconductors during the 2nd quarter worth about $1,167,458,000. 90.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Anthony Foxx sold 400 shares of the company’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $263.60, for a total value of $105,440.00. Following the completion of the sale, the director owned 2,942 shares of the company’s stock, valued at approximately $775,511.20. This represents a 11.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Andrew Micallef sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $226.04, for a total transaction of $226,040.00. Following the sale, the executive vice president owned 7,942 shares of the company’s stock, valued at approximately $1,795,209.68. The trade was a 11.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 4,755 shares of company stock valued at $1,136,680. 0.05% of the stock is currently owned by insiders.

NXP Semiconductors Stock Performance

NASDAQ NXPI opened at $267.29 on Friday. The stock’s fifty day moving average is $239.21 and its two-hundred day moving average is $247.15. The firm has a market capitalization of $67.37 billion, a P/E ratio of 21.01, a price-to-earnings-growth ratio of 0.91 and a beta of 1.83. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.47 and a current ratio of 2.12. NXP Semiconductors N.V. has a fifty-two week low of $183.00 and a fifty-two week high of $339.95.

NXP Semiconductors (NASDAQ:NXPI) last issued its earnings results on Wednesday, October 28th. The semiconductor provider reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.12 by $0.08. NXP Semiconductors had a return on equity of 28.57% and a net margin of 23.40%. The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the prior year, the business earned $3.11 EPS. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. On average, research analysts anticipate that NXP Semiconductors N.V. will post 13.81 earnings per share for the current year.

NXP Semiconductors announced that its board has authorized a stock repurchase plan on Tuesday, October 27th that permits the company to repurchase $5 billion in outstanding shares. This repurchase authorization permits the semiconductor provider to reacquire shares of its stock through open market purchases. Share repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

NXP Semiconductors Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently weighed in on NXPI. Susquehanna raised their price target on shares of NXP Semiconductors from $210.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. Jefferies Financial Group cut their price objective on NXP Semiconductors from $370.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, October 28th. KeyCorp reduced their target price on NXP Semiconductors from $345.00 to $330.00 and set an “overweight” rating for the company in a report on Wednesday, October 28th. Wells Fargo & Company increased their target price on NXP Semiconductors from $235.00 to $245.00 and gave the company an “equal weight” rating in a report on Wednesday, October 28th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of NXP Semiconductors in a research report on Thursday, October 29th. 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $295.78.

NXP Semiconductors Profile

NXP Semiconductors is a global semiconductor company headquartered in Eindhoven, the Netherlands. It develops and supplies chips and related technologies for automotive, industrial and Internet of Things, mobile, and communications infrastructure applications. Its products include microcontrollers and processors, analog and mixed-signal components, connectivity solutions, and security technologies. In the automotive sector, NXP supplies technologies used in vehicle networking, radar, and safety systems; its other offerings support applications such as secure identification and near-field communication.