NXP Semiconductors N.V. $NXPI Shares Newly Acquired by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC acquired a new stake in shares of NXP Semiconductors N.V. (NASDAQ:NXPI) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 5,902 shares of the semiconductor provider’s stock, valued at approximately $1,402,000.

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

NXP Semiconductors Trading Up 2.2%

NASDAQ:NXPI opened at $262.79 on Wednesday. NXP Semiconductors N.V. has a twelve month low of $183.00 and a twelve month high of $339.95. The company has a quick ratio of 1.47, a current ratio of 2.12 and a debt-to-equity ratio of 0.80. The business has a 50 day moving average price of $234.42 and a two-hundred day moving average price of $246.29. The company has a market cap of $66.24 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 0.87 and a beta of 1.83.

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

NXP Semiconductors Dividend Announcement

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

NXP Semiconductors announced that its board has initiated a share repurchase plan on Tuesday, October 27th that authorizes the company to buy back $5 billion in outstanding shares. This repurchase authorization authorizes the semiconductor provider to buy shares of its stock through open market purchases. Share repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

NXPI has been the topic of a number of research analyst reports. UBS Group lowered shares of NXP Semiconductors from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $305.00 to $270.00 in a report on Monday, August 3rd. Wall Street Zen cut shares of NXP Semiconductors from a “buy” rating to a “hold” rating in a research report on Saturday, October 17th. Truist Financial reduced their target price on shares of NXP Semiconductors from $310.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, October 28th. Wells Fargo & Company increased their target price on NXP Semiconductors from $235.00 to $245.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 28th. Finally, Oppenheimer lifted their price target on NXP Semiconductors from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Sixteen 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 stock. According to data from MarketBeat.com, NXP Semiconductors presently has an average rating of “Moderate Buy” and a consensus target price of $295.78.

Insiders Place Their Bets

In related news, EVP Christopher Jensen sold 3,355 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $240.00, for a total value of $805,200.00. Following the completion of the transaction, the executive vice president owned 288 shares of the company’s stock, 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 hyperlink. 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 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 completion of the sale, the executive vice president owned 7,942 shares in the company, valued at $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. 0.05% of the stock is currently owned by company insiders.

NXP Semiconductors 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.