Freestone Grove Partners LP Takes Position in NXP Semiconductors N.V. $NXPI

Freestone Grove Partners LP purchased a new stake in NXP Semiconductors N.V. (NASDAQ:NXPI) in the second quarter, Holdings Channel.com reports. The firm purchased 41,105 shares of the semiconductor provider’s stock, valued at approximately $11,552,000.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in NXP Semiconductors in the 2nd quarter worth approximately $6,716,412,000. State Street Corp boosted its position in NXP Semiconductors by 0.5% in the 4th quarter. State Street Corp now owns 11,043,159 shares of the semiconductor provider’s stock valued at $2,407,382,000 after buying an additional 55,098 shares during the last quarter. Invesco Ltd. increased its stake in shares of NXP Semiconductors by 17.2% in the 4th quarter. Invesco Ltd. now owns 5,574,672 shares of the semiconductor provider’s stock valued at $1,210,038,000 after buying an additional 818,985 shares during the period. Geode Capital Management LLC raised its position in shares of NXP Semiconductors by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 5,463,756 shares of the semiconductor provider’s stock worth $1,180,572,000 after acquiring an additional 30,804 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of NXP Semiconductors by 11.0% during the fourth quarter. Van ECK Associates Corp now owns 4,253,320 shares of the semiconductor provider’s stock worth $923,225,000 after acquiring an additional 421,011 shares during the last quarter. Institutional investors own 90.54% of the company’s stock.

NXP Semiconductors Trading Up 1.2%

Shares of NASDAQ:NXPI opened at $225.86 on Friday. The firm has a market cap of $56.95 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 0.76 and a beta of 1.81. NXP Semiconductors N.V. has a 12 month low of $183.00 and a 12 month high of $339.95. The company’s fifty day simple moving average is $259.27 and its 200 day simple moving average is $252.52. The company has a quick ratio of 1.36, a current ratio of 2.04 and a debt-to-equity ratio of 0.88.

NXP Semiconductors (NASDAQ:NXPI) last announced its earnings results on Wednesday, July 29th. The semiconductor provider reported $3.61 earnings per share for the quarter, topping analysts’ consensus estimates of $3.52 by $0.09. NXP Semiconductors had a net margin of 22.56% and a return on equity of 27.83%. The firm had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same period in the prior year, the business earned $2.72 EPS. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, research analysts forecast that NXP Semiconductors N.V. will post 13.73 EPS for the current fiscal year.

NXP Semiconductors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Wednesday, June 24th were paid a $1.014 dividend. The ex-dividend date was Wednesday, June 24th. This represents a $4.06 annualized dividend and a yield of 1.8%. NXP Semiconductors’s payout ratio is presently 34.56%.

Wall Street Analysts Forecast Growth

NXPI has been the topic of several recent research reports. Barclays raised their price target on NXP Semiconductors from $295.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Wall Street Zen downgraded shares of NXP Semiconductors from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 9th. Wells Fargo & Company reduced their price target on shares of NXP Semiconductors from $290.00 to $280.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Stifel Nicolaus set a $282.00 price objective on shares of NXP Semiconductors in a research report on Wednesday, July 29th. Finally, Mizuho reduced their target price on NXP Semiconductors from $200.00 to $190.00 and set an “underperform” rating on the stock in a report on Wednesday, July 29th. Sixteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $305.43.

Insider Buying and Selling

In other news, EVP Christopher L. Jensen sold 1,746 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $316.53, for a total transaction of $552,661.38. Following the completion of the transaction, the executive vice president directly owned 3,643 shares of the company’s stock, valued at $1,153,118.79. This trade represents a 32.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Micallef sold 1,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $315.57, for a total transaction of $315,570.00. Following the transaction, the executive vice president owned 8,942 shares of the company’s stock, valued at $2,821,826.94. The trade was a 10.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.05% of the company’s stock.

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.