DAVENPORT & Co LLC Boosts Stock Holdings in NXP Semiconductors N.V. $NXPI

DAVENPORT & Co LLC increased its position in NXP Semiconductors N.V. (NASDAQ:NXPI) by 24.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,214 shares of the semiconductor provider’s stock after acquiring an additional 4,908 shares during the period. DAVENPORT & Co LLC’s holdings in NXP Semiconductors were worth $5,742,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NXPI. Transcend Capital Advisors LLC raised its stake in shares of NXP Semiconductors by 2.8% in the second quarter. Transcend Capital Advisors LLC now owns 1,824 shares of the semiconductor provider’s stock worth $399,000 after purchasing an additional 50 shares during the last quarter. IHT Wealth Management LLC raised its position in NXP Semiconductors by 4.6% in the 2nd quarter. IHT Wealth Management LLC now owns 1,193 shares of the semiconductor provider’s stock worth $261,000 after buying an additional 52 shares during the last quarter. Oarsman Capital Inc. lifted its stake in NXP Semiconductors by 6.1% during the 2nd quarter. Oarsman Capital Inc. now owns 1,144 shares of the semiconductor provider’s stock valued at $250,000 after acquiring an additional 66 shares during the period. Clark Capital Management Group Inc. lifted its stake in NXP Semiconductors by 5.3% during the 1st quarter. Clark Capital Management Group Inc. now owns 1,445 shares of the semiconductor provider’s stock valued at $275,000 after acquiring an additional 73 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in shares of NXP Semiconductors by 2.7% in the second quarter. Geneos Wealth Management Inc. now owns 2,757 shares of the semiconductor provider’s stock worth $602,000 after acquiring an additional 73 shares during the period. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NXPI has been the topic of a number of research analyst reports. Truist Financial increased their price objective on shares of NXP Semiconductors from $254.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Arete increased their price target on NXP Semiconductors from $273.90 to $324.40 and gave the company a “buy” rating in a report on Monday, December 8th. Stifel Nicolaus set a $215.00 price objective on NXP Semiconductors in a report on Tuesday, October 28th. Sanford C. Bernstein set a $220.00 target price on NXP Semiconductors and gave the company a “market perform” rating in a report on Wednesday, October 29th. Finally, Arete Research raised their target price on NXP Semiconductors from $273.90 to $324.40 and gave the stock a “buy” rating in a research report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $260.62.

NXP Semiconductors Trading Down 0.3%

NASDAQ:NXPI opened at $225.23 on Friday. NXP Semiconductors N.V. has a one year low of $148.09 and a one year high of $255.45. The business has a fifty day moving average price of $212.14 and a 200-day moving average price of $219.16. The firm has a market capitalization of $56.68 billion, a price-to-earnings ratio of 27.88, a price-to-earnings-growth ratio of 3.35 and a beta of 1.46. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.37 and a quick ratio of 1.69.

NXP Semiconductors (NASDAQ:NXPI) last released its earnings results on Tuesday, October 28th. The semiconductor provider reported $3.11 earnings per share for the quarter, missing the consensus estimate of $3.12 by ($0.01). The company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.15 billion. NXP Semiconductors had a net margin of 17.11% and a return on equity of 26.92%. NXP Semiconductors’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.45 earnings per share. Sell-side analysts forecast that NXP Semiconductors N.V. will post 10.28 EPS for the current year.

NXP Semiconductors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 7th. Investors of record on Wednesday, December 10th will be issued a $1.014 dividend. This represents a $4.06 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, December 10th. NXP Semiconductors’s dividend payout ratio is currently 50.25%.

Insiders Place Their Bets

In other news, EVP Jennifer Wuamett sold 8,372 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $207.01, for a total transaction of $1,733,087.72. Following the sale, the executive vice president directly owned 19,175 shares in the company, valued at $3,969,416.75. This trade represents a 30.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christopher L. Jensen sold 2,300 shares of NXP Semiconductors stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $228.17, for a total transaction of $524,791.00. Following the transaction, the executive vice president owned 9,965 shares in the company, valued at approximately $2,273,714.05. This trade represents a 18.75% decrease in their position. The SEC filing for this sale provides additional information. 0.12% of the stock is owned by company insiders.

NXP Semiconductors 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.