First Trust Direct Indexing L.P. Buys 648 Shares of NXP Semiconductors (NASDAQ:NXPI)

First Trust Direct Indexing L.P. lifted its stake in NXP Semiconductors (NASDAQ:NXPI) by 13.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,381 shares of the semiconductor provider’s stock after purchasing an additional 648 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in NXP Semiconductors were worth $1,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings in NXP Semiconductors by 46.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 89,297 shares of the semiconductor provider’s stock valued at $20,510,000 after buying an additional 28,518 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of NXP Semiconductors by 29.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 125,594 shares of the semiconductor provider’s stock worth $28,846,000 after purchasing an additional 28,758 shares during the period. Stratos Wealth Partners LTD. raised its stake in shares of NXP Semiconductors by 27.0% during the 4th quarter. Stratos Wealth Partners LTD. now owns 4,788 shares of the semiconductor provider’s stock worth $1,100,000 after buying an additional 1,019 shares during the period. Handelsbanken Fonder AB grew its holdings in shares of NXP Semiconductors by 33.4% during the fourth quarter. Handelsbanken Fonder AB now owns 136,364 shares of the semiconductor provider’s stock worth $31,320,000 after buying an additional 34,131 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of NXP Semiconductors by 15.2% during the 4th quarter. Mackenzie Financial Corp now owns 115,992 shares of the semiconductor provider’s stock worth $26,641,000 after buying an additional 15,283 shares during the last quarter. 90.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NXPI shares. Evercore ISI upped their target price on shares of NXP Semiconductors from $300.00 to $370.00 and gave the stock an “outperform” rating in a research note on Wednesday. Argus upped their target price on shares of NXP Semiconductors from $260.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday. Barclays upgraded NXP Semiconductors from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $200.00 to $260.00 in a research note on Tuesday, January 16th. TD Cowen lifted their price target on shares of NXP Semiconductors from $270.00 to $300.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 12th. Finally, Truist Financial boosted their price target on shares of NXP Semiconductors from $265.00 to $291.00 and gave the company a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $257.72.

NXP Semiconductors Stock Up 2.4 %

NASDAQ:NXPI traded up $6.09 during trading hours on Friday, reaching $260.35. 222,137 shares of the stock were exchanged, compared to its average volume of 2,372,868. The stock has a market cap of $66.57 billion, a PE ratio of 24.17, a PEG ratio of 0.95 and a beta of 1.54. NXP Semiconductors has a twelve month low of $161.23 and a twelve month high of $264.26. The firm has a 50 day moving average of $242.58 and a 200 day moving average of $221.15. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.35 and a quick ratio of 1.39.

NXP Semiconductors (NASDAQ:NXPI) last released its earnings results on Monday, February 5th. The semiconductor provider reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.33 by $0.04. NXP Semiconductors had a net margin of 21.24% and a return on equity of 37.65%. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.40 billion. On average, equities analysts expect that NXP Semiconductors will post 12.21 earnings per share for the current year.

NXP Semiconductors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Thursday, March 21st were issued a $1.014 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $4.06 dividend on an annualized basis and a yield of 1.56%. NXP Semiconductors’s payout ratio is 37.40%.

About NXP Semiconductors

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.