Wellington Management Group LLP Buys Shares of 6,719,522 NXP Semiconductors N.V. $NXPI

Wellington Management Group LLP purchased a new position in shares of NXP Semiconductors N.V. (NASDAQ:NXPI) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,719,522 shares of the semiconductor provider’s stock, valued at approximately $21,099,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. JPL Wealth Management LLC bought a new stake in shares of NXP Semiconductors during the third quarter valued at about $26,000. SHP Wealth Management bought a new position in NXP Semiconductors in the 4th quarter valued at about $27,000. Allied Private Wealth LLC acquired a new position in NXP Semiconductors during the 2nd quarter valued at about $28,000. Fiduciary Financial Advisors acquired a new position in NXP Semiconductors during the 2nd quarter valued at about $28,000. Finally, Acumen Wealth Advisors LLC bought a new stake in shares of NXP Semiconductors during the 4th quarter worth about $28,000. Institutional investors own 90.54% of the company’s stock.

Insider Activity

In related news, EVP Andrew Micallef sold 1,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $315.57, for a total value of $315,570.00. Following the completion of the transaction, the executive vice president owned 8,942 shares in the company, valued at $2,821,826.94. This trade represents a 10.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.05% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Oppenheimer increased their price objective on shares of NXP Semiconductors from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Wall Street Zen upgraded NXP Semiconductors from a “hold” rating to a “buy” rating in a research report on Sunday. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price target on shares of NXP Semiconductors in a research note on Wednesday, July 29th. Morgan Stanley lifted their price target on NXP Semiconductors from $335.00 to $338.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Finally, Citigroup reissued a “neutral” rating on shares of NXP Semiconductors in a research note on Monday, July 13th. Sixteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $305.43.

NXP Semiconductors Price Performance

NXPI stock opened at $227.84 on Monday. NXP Semiconductors N.V. has a 12 month low of $183.00 and a 12 month high of $339.95. The firm has a market cap of $57.45 billion, a PE ratio of 19.44, a P/E/G ratio of 0.77 and a beta of 1.81. The firm has a 50 day simple moving average of $250.20 and a 200 day simple moving average of $251.85. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.04 and a quick ratio of 1.36.

NXP Semiconductors (NASDAQ:NXPI) last posted its quarterly earnings results on Wednesday, July 29th. The semiconductor provider reported $3.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.09. The firm had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.47 billion. NXP Semiconductors had a net margin of 22.56% and a return on equity of 27.83%. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.72 earnings per share. Equities research analysts forecast that NXP Semiconductors N.V. will post 13.73 earnings per share for the current fiscal year.

NXP Semiconductors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 16th will be issued a $1.014 dividend. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Wednesday, September 16th. NXP Semiconductors’s payout ratio is presently 34.64%.

NXP Semiconductors Company Profile

NXP Semiconductors N.V. is a global semiconductor company headquartered in Eindhoven, the Netherlands, that designs and supplies mixed-signal and standard product solutions for a broad range of end markets. The company focuses on enabling secure connections and infrastructure for embedded applications, developing technologies used across automotive, industrial and Internet of Things (IoT), mobile, and communication infrastructure segments. NXP’s offerings target customers that require reliable, secure, and high-performance semiconductor components for connected devices and systems.

Product lines include microcontrollers and application processors, secure elements and authentication technologies, RF and high-power analog components, connectivity solutions, and vehicle networking and infotainment systems.