Point72 Asset Management L.P. Buys 1,893,827 Shares of NXP Semiconductors NV (NASDAQ:NXPI)

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Point72 Asset Management L.P. boosted its stake in NXP Semiconductors NV (NASDAQ:NXPI) by 221.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,747,433 shares of the semiconductor provider’s stock after acquiring an additional 1,893,827 shares during the quarter. NXP Semiconductors accounts for about 1.4% of Point72 Asset Management L.P.’s portfolio, making the stock its 5th biggest holding. Point72 Asset Management L.P. owned 0.84% of NXP Semiconductors worth $268,177,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. purchased a new position in NXP Semiconductors in the 2nd quarter valued at $25,000. Next Capital Management LLC purchased a new position in NXP Semiconductors in the 2nd quarter valued at $26,000. Global Trust Asset Management LLC purchased a new position in NXP Semiconductors in the 2nd quarter valued at $26,000. Citizens Financial Group Inc RI lifted its holdings in NXP Semiconductors by 56.3% in the 1st quarter. Citizens Financial Group Inc RI now owns 358 shares of the semiconductor provider’s stock valued at $32,000 after purchasing an additional 129 shares in the last quarter. Finally, Cornerstone Advisors Inc. lifted its holdings in NXP Semiconductors by 55.8% in the 2nd quarter. Cornerstone Advisors Inc. now owns 374 shares of the semiconductor provider’s stock valued at $37,000 after purchasing an additional 134 shares in the last quarter. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on the company. Evercore ISI upgraded NXP Semiconductors from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $110.00 to $125.00 in a report on Monday, July 29th. BidaskClub upgraded NXP Semiconductors from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Morgan Stanley lifted their price target on NXP Semiconductors from $114.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Raymond James started coverage on NXP Semiconductors in a report on Monday, August 19th. They set an “outperform” rating and a $115.00 price target on the stock. Finally, Loop Capital started coverage on NXP Semiconductors in a report on Wednesday, August 28th. They set a “buy” rating and a $118.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $105.40.

In related news, EVP Keith M. Shull sold 4,196 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $108.14, for a total value of $453,755.44. Following the sale, the executive vice president now directly owns 9,587 shares in the company, valued at approximately $1,036,738.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Peter L. Bonfield sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $98.36, for a total transaction of $983,600.00. Following the completion of the sale, the chairman now owns 24,404 shares in the company, valued at $2,400,377.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,765 shares of company stock worth $1,919,522.

NXPI traded down $2.86 on Friday, hitting $105.50. The company had a trading volume of 91,759 shares, compared to its average volume of 2,223,537. The firm has a market cap of $35.42 billion, a P/E ratio of 17.74, a PEG ratio of 1.36 and a beta of 1.24. NXP Semiconductors NV has a 1 year low of $67.62 and a 1 year high of $112.06. The company’s fifty day moving average price is $102.88 and its 200 day moving average price is $97.88. The company has a current ratio of 1.82, a quick ratio of 1.44 and a debt-to-equity ratio of 0.79.

NXP Semiconductors (NASDAQ:NXPI) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor provider reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.52. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. NXP Semiconductors had a net margin of 23.10% and a return on equity of 22.22%. On average, analysts predict that NXP Semiconductors NV will post 6.34 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Monday, September 16th will be issued a $0.375 dividend. This is a positive change from NXP Semiconductors’s previous quarterly dividend of $0.25. This represents a $1.50 annualized dividend and a yield of 1.42%. The ex-dividend date is Friday, September 13th. NXP Semiconductors’s payout ratio is 25.25%.

NXP Semiconductors Company Profile

NXP Semiconductors N.V., a semiconductor company, provides high performance mixed signal solutions for radio frequency (RF), analog, power management, interface, security, and digital processing products worldwide. The company offers products for audio and visual head-end unit applications, such as single-chip radio solutions, multi-standard radios, audio amplifiers and power analog products, and i.MX applications processors; in-vehicle networking products; two-way secure entry products; various sensors and microcontrollers; power management solutions; battery cell controllers; and solutions for radar, vision, vehicle-to-vehicle, and vehicle-to-infrastructure systems.

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Institutional Ownership by Quarter for NXP Semiconductors (NASDAQ:NXPI)

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