Renaissance Investment Group LLC Has $9.07 Million Stock Position in NXP Semiconductors N.V. (NASDAQ:NXPI)

Renaissance Investment Group LLC lowered its holdings in shares of NXP Semiconductors N.V. (NASDAQ:NXPI) by 1.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,745 shares of the semiconductor provider’s stock after selling 805 shares during the period. NXP Semiconductors makes up about 2.2% of Renaissance Investment Group LLC’s holdings, making the stock its 23rd biggest position. Renaissance Investment Group LLC’s holdings in NXP Semiconductors were worth $9,074,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Meeder Advisory Services Inc. grew its stake in NXP Semiconductors by 5.0% in the first quarter. Meeder Advisory Services Inc. now owns 5,080 shares of the semiconductor provider’s stock valued at $965,000 after acquiring an additional 244 shares during the period. Clarendon Private LLC grew its stake in NXP Semiconductors by 12.4% in the first quarter. Clarendon Private LLC now owns 1,716 shares of the semiconductor provider’s stock valued at $326,000 after acquiring an additional 189 shares during the period. Fiera Capital Corp grew its stake in NXP Semiconductors by 37.2% in the first quarter. Fiera Capital Corp now owns 11,539 shares of the semiconductor provider’s stock valued at $2,193,000 after acquiring an additional 3,126 shares during the period. Marco Investment Management LLC grew its stake in NXP Semiconductors by 0.5% in the first quarter. Marco Investment Management LLC now owns 74,905 shares of the semiconductor provider’s stock valued at $14,236,000 after acquiring an additional 378 shares during the period. Finally, Nemes Rush Group LLC grew its stake in NXP Semiconductors by 5.0% in the first quarter. Nemes Rush Group LLC now owns 34,369 shares of the semiconductor provider’s stock valued at $6,532,000 after acquiring an additional 1,639 shares during the period. Institutional investors and hedge funds own 90.54% of the company’s stock.

Insider Buying and Selling

In related news, EVP Jennifer Wuamett sold 9,132 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $230.00, for a total transaction of $2,100,360.00. Following the completion of the transaction, the executive vice president directly owned 27,088 shares in the company, valued at $6,230,240. The trade was a 25.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.12% of the stock is currently owned by insiders.

NXP Semiconductors Stock Performance

NASDAQ:NXPI opened at $228.49 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.20 and a current ratio of 1.74. NXP Semiconductors N.V. has a 52-week low of $148.09 and a 52-week high of $264.54. The firm has a market cap of $57.72 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 2.52 and a beta of 1.40. The business’s fifty day moving average is $215.50 and its 200 day moving average is $206.63.

NXP Semiconductors (NASDAQ:NXPI) last released its quarterly earnings data on Monday, July 21st. The semiconductor provider reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.06. NXP Semiconductors had a return on equity of 27.99% and a net margin of 17.72%. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the previous year, the company posted $3.20 EPS. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. Research analysts predict that NXP Semiconductors N.V. will post 10.28 EPS for the current year.

NXP Semiconductors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 25th were given a dividend of $1.014 per share. This represents a $4.06 annualized dividend and a yield of 1.78%. The ex-dividend date was Wednesday, June 25th. NXP Semiconductors’s payout ratio is 48.39%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Susquehanna raised their price objective on NXP Semiconductors from $195.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Stifel Nicolaus lifted their target price on NXP Semiconductors from $170.00 to $210.00 and gave the company a “hold” rating in a research report on Friday, July 18th. Morgan Stanley set a $229.00 target price on NXP Semiconductors in a research report on Monday, April 21st. UBS Group lifted their target price on NXP Semiconductors from $250.00 to $276.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Finally, The Goldman Sachs Group started coverage on NXP Semiconductors in a research report on Thursday, July 10th. They set a “buy” rating and a $276.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $256.05.

NXP Semiconductors Company Profile

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.