Nemes Rush Group LLC Acquires New Stake in NXP Semiconductors N.V. $NXPI

Nemes Rush Group LLC acquired a new stake in shares of NXP Semiconductors N.V. (NASDAQ:NXPI) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 47,218 shares of the semiconductor provider’s stock, valued at approximately $11,216,000.

A number of other large investors have also bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of NXP Semiconductors in the second quarter valued at $6,716,412,000. State Street Corp grew its stake in shares of NXP Semiconductors by 6.4% during the 2nd quarter. State Street Corp now owns 11,699,143 shares of the semiconductor provider’s stock worth $3,298,932,000 after acquiring an additional 702,099 shares during the period. Wellington Management Group LLP bought a new position in shares of NXP Semiconductors during the 2nd quarter worth $21,099,000. Bank of America Corp DE purchased a new stake in NXP Semiconductors in the 2nd quarter worth about $1,169,846,000. Finally, Van ECK Associates Corp purchased a new stake in NXP Semiconductors in the 2nd quarter worth about $1,167,458,000. 90.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NXPI shares. Evercore reaffirmed an “outperform” rating on shares of NXP Semiconductors in a report on Wednesday, October 28th. Bank of America reiterated a “neutral” rating and set a $280.00 price target on shares of NXP Semiconductors in a research report on Wednesday, October 28th. Stifel Nicolaus reduced their price objective on shares of NXP Semiconductors from $265.00 to $250.00 and set a “hold” rating for the company in a research note on Wednesday, October 28th. Mizuho decreased their target price on shares of NXP Semiconductors from $200.00 to $190.00 and set an “underperform” rating on the stock in a report on Wednesday, July 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of NXP Semiconductors in a research note on Monday, October 26th. Sixteen equities research 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $295.78.

Insider Activity

In other news, EVP Christopher L. Jensen sold 3,355 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $240.00, for a total value of $805,200.00. Following the completion of the sale, the executive vice president owned 288 shares of the company’s stock, valued at approximately $69,120. The trade was a 92.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony R. Foxx sold 400 shares of the 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 sale, the director owned 2,942 shares of the company’s stock, valued at $775,511.20. This represents a 11.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, 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 Price Performance

Shares of NXP Semiconductors stock opened at $256.42 on Tuesday. The firm has a market capitalization of $64.63 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 0.90 and a beta of 1.83. The company has a current ratio of 2.12, a quick ratio of 1.47 and a debt-to-equity ratio of 0.80. NXP Semiconductors N.V. has a 12 month low of $183.00 and a 12 month high of $339.95. The business’s 50-day moving average price is $236.75 and its 200-day moving average price is $246.66.

NXP Semiconductors (NASDAQ:NXPI) last issued its quarterly earnings results on Wednesday, October 28th. The semiconductor provider reported $4.20 EPS for the quarter, beating analysts’ consensus estimates of $4.12 by $0.08. The business 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 business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the business earned $3.11 earnings per share. Sell-side analysts forecast that NXP Semiconductors N.V. will post 13.81 EPS for the current fiscal year.

NXP Semiconductors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Wednesday, September 16th were given a dividend of $1.0140 per share. This represents a $4.06 annualized dividend and a yield of 1.6%. The ex-dividend date was Wednesday, September 16th. NXP Semiconductors’s dividend payout ratio is presently 31.92%.

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

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.

The company traces its origins to Philips’ semiconductor business, which became an independent company in 2006.