Key Points
- EVP Andrew Hardy sold 1,643 NXP shares for about $437,843 at an average price of $266.49, under a pre-arranged Rule 10b5-1 plan. He retained 4,064 shares after the sale.
- NXP reported quarterly EPS of $4.20, beating the $4.12 consensus, while revenue rose 19.3% year over year to $3.79 billion.
- The board authorized a $5 billion share repurchase program; analysts’ consensus rating is “Moderate Buy,” with a $295.78 average price target.
NXP Semiconductors N.V. (NASDAQ:NXPI - Get Free Report) EVP Andrew Hardy sold 1,643 shares of NXP Semiconductors stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $266.49, for a total value of $437,843.07. Following the transaction, the executive vice president owned 4,064 shares in the company, valued at approximately $1,083,015.36. This represents a 28.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
NXP Semiconductors Trading Down 0.8%
Shares of NXPI traded down $2.20 during mid-day trading on Friday, reaching $265.09. The stock had a trading volume of 4,320,601 shares, compared to its average volume of 5,620,579. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.12 and a quick ratio of 1.47. NXP Semiconductors N.V. has a 52-week low of $183.00 and a 52-week high of $339.95. The business's fifty day moving average is $240.01 and its 200 day moving average is $247.33. The firm has a market cap of $66.82 billion, a price-to-earnings ratio of 20.84, a P/E/G ratio of 0.90 and a beta of 1.83.
NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last issued its earnings results on Wednesday, October 28th. The semiconductor provider reported $4.20 EPS for the quarter, topping analysts' consensus estimates of $4.12 by $0.08. The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.76 billion. NXP Semiconductors had a net margin of 23.40% and a return on equity of 28.57%. NXP Semiconductors's quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.11 earnings per share. On average, sell-side analysts predict that NXP Semiconductors N.V. will post 13.81 EPS for the current fiscal year.
NXP Semiconductors Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.5%. NXP Semiconductors's dividend payout ratio (DPR) is currently 31.92%.
NXP Semiconductors announced that its Board of Directors has initiated a share buyback program on Tuesday, October 27th that permits the company to repurchase $5 billion in outstanding shares. This buyback authorization permits the semiconductor provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.
Wall Street Analyst Weigh In
Several analysts have recently commented on NXPI shares. Jefferies Financial Group reduced their price target on shares of NXP Semiconductors from $370.00 to $350.00 and set a "buy" rating on the stock in a research report on Wednesday, October 28th. Needham & Company LLC reiterated a "buy" rating and issued a $300.00 price objective on shares of NXP Semiconductors in a research report on Wednesday, October 28th. Evercore reissued an "outperform" rating on shares of NXP Semiconductors in a research note on Wednesday, October 28th. Mizuho reduced their target price on NXP Semiconductors from $200.00 to $190.00 and set an "underperform" rating on the stock in a research report on Wednesday, July 29th. Finally, Susquehanna upped their price target on NXP Semiconductors from $210.00 to $250.00 and gave the company a "neutral" rating in a research note on Tuesday, July 21st. Sixteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $295.78.
View Our Latest Report on NXPI
Institutional Investors Weigh In On NXP Semiconductors
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in NXP Semiconductors during the second quarter worth $6,716,412,000. Wellington Management Group LLP purchased a new position in shares of NXP Semiconductors during the second quarter worth $21,099,000. Boston Partners purchased a new position in shares of NXP Semiconductors during the third quarter worth $1,212,081,000. Bank of America Corp DE acquired a new stake in shares of NXP Semiconductors in the second quarter valued at $1,169,846,000. Finally, Van ECK Associates Corp acquired a new stake in shares of NXP Semiconductors in the second quarter valued at $1,167,458,000. 90.54% of the stock is owned by hedge funds and other institutional investors.
NXP Semiconductors Company Profile
(
Get Free Report)
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.
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