Federated Hermes Inc. Acquires 406 Shares of NXP Semiconductors (NASDAQ:NXPI)

Federated Hermes Inc. raised its holdings in shares of NXP Semiconductors (NASDAQ:NXPI) by 33.5% in the second quarter, Holdings Channel.com reports. The firm owned 1,617 shares of the semiconductor provider’s stock after purchasing an additional 406 shares during the period. Federated Hermes Inc.’s holdings in NXP Semiconductors were worth $435,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Drive Wealth Management LLC increased its position in NXP Semiconductors by 4.3% during the 2nd quarter. Drive Wealth Management LLC now owns 953 shares of the semiconductor provider’s stock valued at $257,000 after buying an additional 39 shares in the last quarter. Beacon Capital Management LLC boosted its stake in NXP Semiconductors by 36.4% in the 1st quarter. Beacon Capital Management LLC now owns 150 shares of the semiconductor provider’s stock worth $37,000 after purchasing an additional 40 shares in the last quarter. Patten Group Inc. grew its position in NXP Semiconductors by 1.2% during the 2nd quarter. Patten Group Inc. now owns 3,454 shares of the semiconductor provider’s stock valued at $929,000 after purchasing an additional 42 shares during the last quarter. West Paces Advisors Inc. increased its stake in NXP Semiconductors by 3.1% during the 2nd quarter. West Paces Advisors Inc. now owns 1,500 shares of the semiconductor provider’s stock valued at $404,000 after purchasing an additional 45 shares in the last quarter. Finally, Octavia Wealth Advisors LLC raised its holdings in NXP Semiconductors by 5.4% in the second quarter. Octavia Wealth Advisors LLC now owns 880 shares of the semiconductor provider’s stock worth $238,000 after buying an additional 45 shares during the last quarter. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of NXP Semiconductors from $240.00 to $275.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Morgan Stanley decreased their price target on NXP Semiconductors from $275.00 to $271.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Truist Financial dropped their price objective on NXP Semiconductors from $291.00 to $287.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Needham & Company LLC boosted their target price on NXP Semiconductors from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Oppenheimer raised their price target 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 issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, NXP Semiconductors has an average rating of “Moderate Buy” and a consensus target price of $294.89.

Insider Buying and Selling

In other news, EVP Jennifer Wuamett sold 3,500 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $232.35, for a total value of $813,225.00. Following the transaction, the executive vice president now directly owns 30,269 shares in the company, valued at $7,033,002.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Jennifer Wuamett sold 3,500 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $232.35, for a total transaction of $813,225.00. Following the completion of the transaction, the executive vice president now owns 30,269 shares in the company, valued at $7,033,002.15. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Julie Southern purchased 146 shares of NXP Semiconductors stock in a transaction 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 acquisition, the insider now owns 11,297 shares in the company, valued at approximately $2,909,429.38. The disclosure for this purchase can be found here. 0.11% of the stock is currently owned by insiders.

NXP Semiconductors Stock Performance

Shares of NXPI opened at $231.86 on Tuesday. The business has a 50-day simple moving average of $246.99 and a two-hundred day simple moving average of $254.17. 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 has a 52 week low of $167.21 and a 52 week high of $296.08. The stock has a market cap of $59.28 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 2.50 and a beta of 1.49.

NXP Semiconductors (NASDAQ:NXPI) last released its earnings results on Monday, July 22nd. The semiconductor provider reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.38. NXP Semiconductors had a net margin of 21.21% and a return on equity of 35.65%. The company had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period in the prior year, the firm posted $3.04 EPS. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, analysts expect that NXP Semiconductors will post 11.97 EPS for the current year.

NXP Semiconductors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Thursday, September 12th will be paid a dividend of $1.014 per share. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Thursday, September 12th. NXP Semiconductors’s dividend payout ratio (DPR) is 37.40%.

NXP Semiconductors 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.