NXP Semiconductors N.V. $NXPI Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its holdings in NXP Semiconductors N.V. (NASDAQ:NXPI) by 15.5% during the 1st quarter, Holdings Channel.com reports. The fund owned 3,842,220 shares of the semiconductor provider’s stock after selling 705,434 shares during the quarter. NXP Semiconductors accounts for about 0.8% of Pictet Asset Management Holding SA’s portfolio, making the stock its 20th biggest position. Pictet Asset Management Holding SA’s holdings in NXP Semiconductors were worth $755,981,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. JPL Wealth Management LLC acquired a new stake in shares of NXP Semiconductors during the 3rd quarter valued at $26,000. SHP Wealth Management acquired a new position in shares of NXP Semiconductors in the 4th quarter worth $27,000. Acumen Wealth Advisors LLC purchased a new stake in shares of NXP Semiconductors during the fourth quarter valued at $28,000. Jessup Wealth Management Inc purchased a new stake in shares of NXP Semiconductors during the fourth quarter valued at $29,000. Finally, Quattro Advisors LLC purchased a new stake in NXP Semiconductors during the fourth quarter valued at about $30,000. 90.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Jefferies Financial Group raised their price objective on shares of NXP Semiconductors from $265.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. KeyCorp lifted their price target on NXP Semiconductors from $300.00 to $345.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Wolfe Research upped their price target on NXP Semiconductors from $270.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Weiss Ratings raised NXP Semiconductors from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. Finally, Citigroup raised their price objective on NXP Semiconductors from $270.00 to $370.00 and gave the stock a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $300.08.

NXP Semiconductors Stock Down 7.2%

NXPI stock opened at $277.02 on Friday. The company has a 50 day moving average of $290.93 and a two-hundred day moving average of $245.06. The company has a market cap of $69.94 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 1.00 and a beta of 1.77. NXP Semiconductors N.V. has a 12-month low of $183.00 and a 12-month high of $339.95. The company has a quick ratio of 1.55, a current ratio of 2.24 and a debt-to-equity ratio of 1.00.

NXP Semiconductors (NASDAQ:NXPI) last posted its quarterly earnings results on Wednesday, April 29th. The semiconductor provider reported $3.05 EPS for the quarter, beating the consensus estimate of $2.98 by $0.07. NXP Semiconductors had a net margin of 21.03% and a return on equity of 26.75%. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the previous year, the company posted $2.64 EPS. NXP Semiconductors’s revenue was up 12.2% on a year-over-year basis. On average, equities analysts anticipate that NXP Semiconductors N.V. will post 13.4 earnings per share for the current fiscal year.

NXP Semiconductors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 24th will be paid a $1.014 dividend. The ex-dividend date is Wednesday, June 24th. This represents a $4.06 dividend on an annualized basis and a yield of 1.5%. NXP Semiconductors’s payout ratio is 38.85%.

Insider Buying and Selling at NXP Semiconductors

In other news, EVP Christopher L. Jensen sold 4,576 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $234.03, for a total transaction of $1,070,921.28. Following the completion of the sale, the executive vice president directly owned 5,389 shares of the company’s stock, valued at $1,261,187.67. This trade represents a 45.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Micallef sold 1,000 shares of NXP Semiconductors stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $315.57, for a total value of $315,570.00. Following the sale, the executive vice president owned 8,942 shares of the company’s stock, valued at approximately $2,821,826.94. This represents a 10.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,611 shares of company stock worth $3,182,068 over the last 90 days. 0.05% of the stock is currently owned by corporate insiders.

NXP Semiconductors Company 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.