Legal & General Group Plc Buys 35,104 Shares of NXP Semiconductors (NASDAQ:NXPI)

Legal & General Group Plc raised its stake in shares of NXP Semiconductors (NASDAQ:NXPI) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,271,866 shares of the semiconductor provider’s stock after acquiring an additional 35,104 shares during the period. Legal & General Group Plc owned about 0.89% of NXP Semiconductors worth $611,336,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of NXPI. Drive Wealth Management LLC grew its holdings 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 increased its stake in shares of NXP Semiconductors by 36.4% during the first quarter. Beacon Capital Management LLC now owns 150 shares of the semiconductor provider’s stock valued at $37,000 after buying an additional 40 shares during the period. Patten Group Inc. increased its stake in shares of NXP Semiconductors by 1.2% during the second quarter. Patten Group Inc. now owns 3,454 shares of the semiconductor provider’s stock valued at $929,000 after buying an additional 42 shares during the period. West Paces Advisors Inc. increased its stake in shares of NXP Semiconductors by 3.1% during the second quarter. West Paces Advisors Inc. now owns 1,500 shares of the semiconductor provider’s stock valued at $404,000 after buying an additional 45 shares during the period. Finally, Octavia Wealth Advisors LLC increased its stake in shares of NXP Semiconductors by 5.4% during the second quarter. Octavia Wealth Advisors LLC now owns 880 shares of the semiconductor provider’s stock valued at $238,000 after buying an additional 45 shares during the period. 90.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Oppenheimer upped their price target on NXP Semiconductors from $295.00 to $330.00 and gave the stock an “outperform” rating in a research note on Friday, July 12th. StockNews.com downgraded NXP Semiconductors from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Truist Financial dropped their target price on NXP Semiconductors from $291.00 to $287.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $350.00 price target on shares of NXP Semiconductors in a report on Tuesday, July 23rd. Finally, Citigroup upped their price target on NXP Semiconductors from $150.00 to $220.00 and gave the company a “sell” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, NXP Semiconductors has a consensus rating of “Moderate Buy” and an average price target of $294.89.

NXP Semiconductors Stock Performance

Shares of NXPI stock opened at $244.93 on Friday. The company has a market capitalization of $62.62 billion, a P/E ratio of 22.62, a P/E/G ratio of 2.51 and a beta of 1.49. The business’s 50 day moving average is $244.27 and its two-hundred day moving average is $253.82. The company has a current ratio of 2.21, a quick ratio of 1.52 and a debt-to-equity ratio of 1.04. NXP Semiconductors has a 12-month low of $167.21 and a 12-month high of $296.08.

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

NXP Semiconductors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Thursday, September 12th will be paid a $1.014 dividend. This represents a $4.06 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Thursday, September 12th. NXP Semiconductors’s dividend payout ratio is presently 37.40%.

Insider Buying and Selling at NXP Semiconductors

In related news, insider Julie Southern purchased 146 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were purchased at an average price of $257.54 per share, for a total transaction of $37,600.84. Following the transaction, the insider now directly owns 11,297 shares of the company’s stock, valued at approximately $2,909,429.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Julie Southern purchased 146 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were acquired at an average price of $257.54 per share, with a total value of $37,600.84. Following the purchase, the insider now directly owns 11,297 shares of the company’s stock, valued at $2,909,429.38. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jennifer Wuamett sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $232.35, for a total value of $813,225.00. Following the sale, the executive vice president now directly owns 30,269 shares in the company, valued at approximately $7,033,002.15. The disclosure for this sale can be found here. 0.11% of the stock is owned by insiders.

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.