NXP Semiconductors N.V. $NXPI Shares Sold by SummitTX Capital L.P.

SummitTX Capital L.P. reduced its position in NXP Semiconductors N.V. (NASDAQ:NXPI) by 30.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 55,209 shares of the semiconductor provider’s stock after selling 24,515 shares during the quarter. SummitTX Capital L.P.’s holdings in NXP Semiconductors were worth $10,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. MGO One Seven LLC grew its holdings in NXP Semiconductors by 63.0% in the fourth quarter. MGO One Seven LLC now owns 13,870 shares of the semiconductor provider’s stock valued at $3,011,000 after purchasing an additional 5,359 shares during the period. Teacher Retirement System of Texas raised its stake in shares of NXP Semiconductors by 16.4% during the 4th quarter. Teacher Retirement System of Texas now owns 45,366 shares of the semiconductor provider’s stock worth $9,847,000 after buying an additional 6,379 shares during the period. Deutsche Bank AG lifted its position in shares of NXP Semiconductors by 5.1% during the 4th quarter. Deutsche Bank AG now owns 1,928,214 shares of the semiconductor provider’s stock valued at $418,538,000 after buying an additional 93,316 shares in the last quarter. Barclays PLC lifted its position in shares of NXP Semiconductors by 31.5% during the 4th quarter. Barclays PLC now owns 2,283,397 shares of the semiconductor provider’s stock valued at $495,634,000 after buying an additional 546,790 shares in the last quarter. Finally, Zevenbergen Capital Investments LLC grew its stake in NXP Semiconductors by 43.5% in the 4th quarter. Zevenbergen Capital Investments LLC now owns 26,400 shares of the semiconductor provider’s stock valued at $5,730,000 after acquiring an additional 8,000 shares during the period. 90.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Stifel Nicolaus upped their price objective on shares of NXP Semiconductors from $215.00 to $250.00 and gave the stock a “hold” rating in a research report on Friday, April 24th. Susquehanna lifted their target price on shares of NXP Semiconductors from $210.00 to $250.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Barclays boosted their target price on shares of NXP Semiconductors from $295.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Jefferies Financial Group raised their price target on shares of NXP Semiconductors from $265.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Citigroup reiterated a “neutral” rating on shares of NXP Semiconductors in a report on Monday, July 13th. Sixteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, NXP Semiconductors presently has a consensus rating of “Moderate Buy” and an average price target of $307.73.

Insider Activity at NXP Semiconductors

In other NXP Semiconductors news, EVP Christopher L. Jensen sold 1,746 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $316.53, for a total transaction of $552,661.38. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Micallef sold 1,000 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $315.57, for a total value of $315,570.00. Following the completion of the transaction, the executive vice president directly owned 8,942 shares in the company, valued at approximately $2,821,826.94. This trade represents a 10.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.05% of the company’s stock.

NXP Semiconductors Stock Performance

Shares of NXP Semiconductors stock opened at $269.24 on Monday. NXP Semiconductors N.V. has a 1-year low of $183.00 and a 1-year high of $339.95. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.24 and a quick ratio of 1.55. The stock’s 50 day simple moving average is $295.88 and its 200-day simple moving average is $252.56. The stock has a market cap of $67.98 billion, a P/E ratio of 25.76, a P/E/G ratio of 1.12 and a beta of 1.79.

NXP Semiconductors (NASDAQ:NXPI) last posted its earnings results on Wednesday, April 29th. The semiconductor provider reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.07. NXP Semiconductors had a net margin of 21.03% and a return on equity of 26.75%. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the business posted $2.64 EPS. NXP Semiconductors’s revenue was up 12.2% on a year-over-year basis. Analysts predict that NXP Semiconductors N.V. will post 13.46 EPS for the current fiscal year.

NXP Semiconductors Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 1.5%. The ex-dividend date was Wednesday, June 24th. NXP Semiconductors’s dividend payout ratio is presently 38.85%.

NXP Semiconductors Company 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.