Carret Asset Management LLC Acquires 2,690 Shares of NXP Semiconductors N.V. $NXPI

Carret Asset Management LLC acquired a new stake in NXP Semiconductors N.V. (NASDAQ:NXPI) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,690 shares of the semiconductor provider’s stock, valued at approximately $639,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of NXP Semiconductors in the second quarter valued at $6,716,412,000. State Street Corp boosted its position in NXP Semiconductors by 6.4% during the second quarter. State Street Corp now owns 11,699,143 shares of the semiconductor provider’s stock worth $3,298,932,000 after acquiring an additional 702,099 shares during the last quarter. Wellington Management Group LLP purchased a new stake in NXP Semiconductors in the 2nd quarter worth approximately $21,099,000. Bank of America Corp DE purchased a new stake in NXP Semiconductors in the 2nd quarter worth approximately $1,169,846,000. Finally, Van ECK Associates Corp purchased a new stake in NXP Semiconductors in the 2nd quarter worth approximately $1,167,458,000. 90.54% of the stock is owned by hedge funds and other institutional investors.

NXP Semiconductors Stock Up 3.3%

Shares of NXPI opened at $256.42 on Tuesday. NXP Semiconductors N.V. has a fifty-two week low of $183.00 and a fifty-two week high of $339.95. The company’s fifty day moving average is $236.75 and its two-hundred day moving average is $246.66. The firm has a market cap of $64.63 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 0.90 and a beta of 1.83. The company has a quick ratio of 1.47, a current ratio of 2.12 and a debt-to-equity ratio of 0.80.

NXP Semiconductors (NASDAQ:NXPI) last released its quarterly earnings data on Wednesday, October 28th. The semiconductor provider reported $4.20 EPS for the quarter, topping analysts’ consensus estimates of $4.12 by $0.08. The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.76 billion. NXP Semiconductors had a return on equity of 28.57% and a net margin of 23.40%. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.11 EPS. Analysts forecast that NXP Semiconductors N.V. will post 13.81 earnings per share for the current year.

NXP Semiconductors declared that its Board of Directors has authorized a share repurchase plan on Tuesday, October 27th that allows the company to buy back $5 billion in shares. This buyback authorization allows the semiconductor provider to buy shares of its stock through open market purchases. Share buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

NXP Semiconductors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Wednesday, September 16th were given a dividend of $1.0140 per share. This represents a $4.06 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, September 16th. NXP Semiconductors’s payout ratio is 31.92%.

Insider Buying and Selling at NXP Semiconductors

In other NXP Semiconductors news, EVP Andrew Micallef sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $226.04, for a total transaction of $226,040.00. Following the completion of the sale, the executive vice president directly owned 7,942 shares in the company, valued at $1,795,209.68. This represents a 11.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Foxx sold 400 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $263.60, for a total value of $105,440.00. Following the completion of the transaction, the director owned 2,942 shares in the company, valued at approximately $775,511.20. This trade represents a 11.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 4,755 shares of company stock valued at $1,136,680. Company insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on NXPI shares. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price target on shares of NXP Semiconductors in a report on Wednesday, October 28th. JPMorgan Chase & Co. lifted their price objective on NXP Semiconductors from $295.00 to $300.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Susquehanna upped their target price on NXP Semiconductors from $210.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. UBS Group downgraded NXP Semiconductors from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $305.00 to $270.00 in a research report on Monday, August 3rd. Finally, Stifel Nicolaus reduced their target price on NXP Semiconductors from $265.00 to $250.00 and set a “hold” rating on the stock in a research report on Wednesday, October 28th. Sixteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $295.78.

NXP Semiconductors Profile

NXP Semiconductors is a global semiconductor company headquartered in Eindhoven, the Netherlands. It develops and supplies chips and related technologies for automotive, industrial and Internet of Things, mobile, and communications infrastructure applications.

Its products include microcontrollers and processors, analog and mixed-signal components, connectivity solutions, and security technologies. In the automotive sector, NXP supplies technologies used in vehicle networking, radar, and safety systems; its other offerings support applications such as secure identification and near-field communication.

The company traces its origins to Philips’ semiconductor business, which became an independent company in 2006.