Summit Financial LLC Purchases New Stake in NXP Semiconductors (NASDAQ:NXPI)

Summit Financial LLC purchased a new position in NXP Semiconductors (NASDAQ:NXPI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,843 shares of the semiconductor provider’s stock, valued at approximately $498,000.

A number of other hedge funds have also recently modified their holdings of NXPI. Montag A & Associates Inc. raised its holdings in shares of NXP Semiconductors by 2.4% during the second quarter. Montag A & Associates Inc. now owns 6,085 shares of the semiconductor provider’s stock valued at $1,643,000 after acquiring an additional 140 shares in the last quarter. Berry Wealth Group LP increased its position in NXP Semiconductors by 13.9% during the 2nd quarter. Berry Wealth Group LP now owns 1,643 shares of the semiconductor provider’s stock valued at $442,000 after purchasing an additional 201 shares during the period. Essex Financial Services Inc. bought a new position in NXP Semiconductors in the 2nd quarter worth $255,000. Aptus Capital Advisors LLC lifted its position in shares of NXP Semiconductors by 5.5% in the 2nd quarter. Aptus Capital Advisors LLC now owns 1,593 shares of the semiconductor provider’s stock worth $429,000 after purchasing an additional 83 shares during the period. Finally, WR Wealth Planners LLC boosted its stake in shares of NXP Semiconductors by 5.8% during the 2nd quarter. WR Wealth Planners LLC now owns 2,790 shares of the semiconductor provider’s stock valued at $751,000 after purchasing an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Insider Buying and Selling at NXP Semiconductors

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

NXP Semiconductors Price Performance

Shares of NXPI opened at $236.14 on Wednesday. NXP Semiconductors has a twelve month low of $167.21 and a twelve month high of $296.08. The company has a market capitalization of $60.38 billion, a P/E ratio of 21.80, a price-to-earnings-growth ratio of 2.77 and a beta of 1.49. The firm has a 50 day moving average of $258.79 and a 200 day moving average of $255.51. The company has a quick ratio of 1.52, a current ratio of 2.21 and a debt-to-equity ratio of 1.04.

NXP Semiconductors (NASDAQ:NXPI) last posted its earnings results on Monday, July 22nd. The semiconductor provider reported $3.20 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.38. The business had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.13 billion. NXP Semiconductors had a return on equity of 35.65% and a net margin of 21.21%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $3.04 EPS. As a group, equities research analysts anticipate that NXP Semiconductors will post 11.97 earnings per share 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. Shareholders of record on Thursday, September 12th will be given a $1.014 dividend. This represents a $4.06 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Thursday, September 12th. NXP Semiconductors’s dividend payout ratio (DPR) is 37.40%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on NXPI shares. Needham & Company LLC increased their price target on shares of NXP Semiconductors from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Citigroup raised their target price on NXP Semiconductors from $150.00 to $220.00 and gave the company a “sell” rating in a research note on Monday, July 15th. Truist Financial reduced their price target on NXP Semiconductors from $291.00 to $287.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Wells Fargo & Company raised their price objective on NXP Semiconductors from $285.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, May 22nd. Finally, Oppenheimer boosted their target price on shares of NXP Semiconductors from $295.00 to $330.00 and gave the company an “outperform” rating in a report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, NXP Semiconductors presently has a consensus rating of “Moderate Buy” and an average target price of $294.89.

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.