Kornitzer Capital Management Inc. KS Buys Shares of 760 NXP Semiconductors (NASDAQ:NXPI)

Kornitzer Capital Management Inc. KS bought a new stake in NXP Semiconductors (NASDAQ:NXPI) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 760 shares of the semiconductor provider’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of NXP Semiconductors during the 4th quarter valued at about $762,077,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of NXP Semiconductors by 893.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,332,578 shares of the semiconductor provider’s stock valued at $535,747,000 after acquiring an additional 2,097,727 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of NXP Semiconductors by 17.3% during the 1st quarter. Vanguard Group Inc. now owns 12,921,432 shares of the semiconductor provider’s stock valued at $3,201,543,000 after acquiring an additional 1,909,898 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new position in shares of NXP Semiconductors during the 4th quarter valued at about $164,044,000. Finally, Kodai Capital Management LP acquired a new position in shares of NXP Semiconductors during the 4th quarter valued at about $125,319,000. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

NXP Semiconductors Stock Performance

NXP Semiconductors stock opened at $226.70 on Friday. The stock has a market cap of $57.96 billion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 2.77 and a beta of 1.49. The company has a current ratio of 2.21, a quick ratio of 1.52 and a debt-to-equity ratio of 1.04. The stock has a 50 day moving average of $256.79 and a 200-day moving average of $255.22. NXP Semiconductors has a 52 week low of $167.21 and a 52 week high of $296.08.

NXP Semiconductors (NASDAQ:NXPI) last released its earnings results on Monday, July 22nd. The semiconductor provider reported $3.20 EPS for the quarter, beating the consensus estimate of $2.82 by $0.38. The company had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.13 billion. NXP Semiconductors had a return on equity of 35.65% and a net margin of 21.21%. The business’s revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $3.04 EPS. On average, analysts expect that NXP Semiconductors will post 11.97 EPS for the current fiscal year.

NXP Semiconductors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Thursday, September 12th will be paid a dividend of $1.014 per share. This represents a $4.06 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Thursday, September 12th. NXP Semiconductors’s dividend payout ratio (DPR) is currently 37.40%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NXPI shares. TD Cowen dropped their price objective on shares of NXP Semiconductors from $330.00 to $310.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Stifel Nicolaus increased their target price on shares of NXP Semiconductors from $240.00 to $275.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Oppenheimer increased their target price on shares of NXP Semiconductors from $295.00 to $330.00 and gave the stock an “outperform” rating in a research report on Friday, July 12th. Citigroup increased their target price on shares of NXP Semiconductors from $150.00 to $220.00 and gave the stock a “sell” rating in a research report on Monday, July 15th. Finally, Truist Financial dropped their target price on shares of NXP Semiconductors from $291.00 to $287.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, NXP Semiconductors currently has a consensus rating of “Moderate Buy” and an average price target of $294.89.

Insider Activity

In related news, CEO Kurt Sievers sold 8,548 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $275.75, for a total transaction of $2,357,111.00. Following the transaction, the chief executive officer now directly owns 177,889 shares in the company, valued at $49,052,891.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Julie Southern acquired 146 shares of NXP Semiconductors stock in a transaction that occurred on Tuesday, July 30th. The shares were purchased at an average cost of $257.54 per share, for a total transaction of $37,600.84. Following the completion of the purchase, the insider now directly owns 11,297 shares of the company’s stock, valued at approximately $2,909,429.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kurt Sievers sold 8,548 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $275.75, for a total value of $2,357,111.00. Following the transaction, the chief executive officer now owns 177,889 shares in the company, valued at $49,052,891.75. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

About NXP Semiconductors

NXP Semiconductors N.V. offers various semiconductor products. The company's product portfolio includes microcontrollers; application processors, including i.MX application processors, and i.MX 8 and 9 family of applications processors; communication processors; wireless connectivity solutions, such as near field communications, ultra-wideband, Bluetooth low-energy, Zigbee, and Wi-Fi and Wi-Fi/Bluetooth integrated SoCs; analog and interface devices; radio frequency power amplifiers; and security controllers, as well as semiconductor-based environmental and inertial sensors, including pressure, inertial, magnetic, and gyroscopic sensors.