Palisade Capital Management LP Takes $812,000 Position in NXP Semiconductors N.V. $NXPI

Palisade Capital Management LP bought a new position in NXP Semiconductors N.V. (NASDAQ:NXPI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,890 shares of the semiconductor provider’s stock, valued at approximately $812,000.

Other large investors have also bought and sold shares of the company. JPL Wealth Management LLC acquired a new position in NXP Semiconductors in the third quarter worth $26,000. SHP Wealth Management bought a new position in shares of NXP Semiconductors in the fourth quarter valued at about $27,000. Allied Private Wealth LLC bought a new position in shares of NXP Semiconductors in the second quarter worth about $28,000. Fiduciary Financial Advisors acquired a new position in shares of NXP Semiconductors during the second quarter worth approximately $28,000. Finally, Acumen Wealth Advisors LLC bought a new stake in shares of NXP Semiconductors during the fourth quarter valued at approximately $28,000. 90.54% of the stock is currently owned by institutional investors.

NXP Semiconductors Stock Down 0.7%

Shares of NXP Semiconductors stock opened at $223.15 on Thursday. The business has a fifty day simple moving average of $261.02 and a 200 day simple moving average of $252.51. The stock has a market cap of $56.27 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 0.76 and a beta of 1.81. The company has a quick ratio of 1.36, a current ratio of 2.04 and a debt-to-equity ratio of 0.88. NXP Semiconductors N.V. has a 12 month low of $183.00 and a 12 month high of $339.95.

NXP Semiconductors (NASDAQ:NXPI) last released its earnings results on Wednesday, July 29th. The semiconductor provider reported $3.61 earnings per share for the quarter, beating the consensus estimate of $3.52 by $0.09. NXP Semiconductors had a return on equity of 27.83% and a net margin of 22.56%.The firm had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the prior year, the firm posted $2.72 earnings per share. The company’s quarterly revenue was up 19.5% on a year-over-year basis. Research analysts predict that NXP Semiconductors N.V. will post 13.73 EPS 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 given a $1.014 dividend. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Wednesday, June 24th. NXP Semiconductors’s dividend payout ratio (DPR) is currently 34.64%.

Insider Buying and Selling

In related news, EVP Christopher L. Jensen sold 1,746 shares of NXP Semiconductors stock in a transaction that occurred 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 transaction, the executive vice president owned 3,643 shares of the company’s stock, valued at $1,153,118.79. This trade represents a 32.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $315.57, for a total transaction of $315,570.00. Following the transaction, the executive vice president owned 8,942 shares of the company’s stock, valued at approximately $2,821,826.94. This represents a 10.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Raymond James Financial raised their price target on shares of NXP Semiconductors from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Jefferies Financial Group lifted their target price on NXP Semiconductors from $265.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Citigroup restated a “neutral” rating on shares of NXP Semiconductors in a research report on Monday, July 13th. Truist Financial upped their price target on NXP Semiconductors from $255.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Wolfe Research raised their price target on NXP Semiconductors from $270.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Sixteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, NXP Semiconductors has an average rating of “Moderate Buy” and an average target price of $305.43.

NXP Semiconductors 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.