UNIVEST FINANCIAL Corp Buys New Position in NXP Semiconductors N.V. $NXPI

UNIVEST FINANCIAL Corp purchased a new stake in NXP Semiconductors N.V. (NASDAQ:NXPI) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 17,192 shares of the semiconductor provider’s stock, valued at approximately $4,084,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of NXP Semiconductors during the second quarter worth $6,716,412,000. State Street Corp lifted its position in NXP Semiconductors by 6.4% in the 2nd quarter. State Street Corp now owns 11,699,143 shares of the semiconductor provider’s stock valued at $3,298,932,000 after acquiring an additional 702,099 shares in the last quarter. Wellington Management Group LLP acquired a new position in NXP Semiconductors in the 2nd quarter worth $21,099,000. Bank of America Corp DE acquired a new position in NXP Semiconductors in the 2nd quarter worth $1,169,846,000. Finally, Van ECK Associates Corp bought a new position in NXP Semiconductors during the 2nd quarter worth about $1,167,458,000. Institutional investors and hedge funds own 90.54% of the company’s stock.

NXP Semiconductors Trading Up 3.0%

Shares of NASDAQ:NXPI opened at $269.51 on Thursday. The company’s 50-day moving average price is $238.43 and its two-hundred day moving average price is $246.97. NXP Semiconductors N.V. has a one year low of $183.00 and a one year high of $339.95. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.12 and a quick ratio of 1.47. The stock has a market capitalization of $67.93 billion, a PE ratio of 21.19, a price-to-earnings-growth ratio of 0.88 and a beta of 1.83.

NXP Semiconductors (NASDAQ:NXPI) last announced its quarterly earnings data on Wednesday, October 28th. The semiconductor provider reported $4.20 earnings per share for the quarter, beating the consensus estimate of $4.12 by $0.08. NXP Semiconductors had a return on equity of 28.57% and a net margin of 23.40%. The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter last year, the company earned $3.11 EPS. NXP Semiconductors’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, equities analysts forecast that NXP Semiconductors N.V. will post 13.81 EPS for the current fiscal year.

NXP Semiconductors announced that its board has initiated a stock buyback program on Tuesday, October 27th that permits the company to buy back $5 billion in shares. This buyback authorization permits the semiconductor provider to repurchase shares of its stock through open market purchases. Share buyback programs are often an indication that the company’s management believes its shares are undervalued.

NXP Semiconductors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Wednesday, September 16th were paid a $1.0140 dividend. This represents a $4.06 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Wednesday, September 16th. NXP Semiconductors’s dividend payout ratio (DPR) is currently 31.92%.

Insiders Place Their Bets

In other news, Director Anthony R. Foxx sold 400 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $263.60, for a total value of $105,440.00. Following the completion of the sale, the director owned 2,942 shares of the company’s stock, valued at approximately $775,511.20. This represents a 11.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Christopher L. Jensen sold 3,355 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $240.00, for a total value of $805,200.00. Following the completion of the sale, the executive vice president directly owned 288 shares of the company’s stock, valued at approximately $69,120. The trade was a 92.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 4,755 shares of company stock valued at $1,136,680 in the last 90 days. 0.05% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on NXPI shares. Citigroup dropped their price target on NXP Semiconductors from $260.00 to $250.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 28th. Oppenheimer boosted their target price on NXP Semiconductors from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. KeyCorp cut their target price on NXP Semiconductors from $345.00 to $330.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 28th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $290.00 price target (up from $270.00) on shares of NXP Semiconductors in a research report on Wednesday, July 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price target on shares of NXP Semiconductors in a research note on Monday, October 26th. Sixteen investment 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $295.78.

NXP Semiconductors Profile

NXP Semiconductors is a global semiconductor company headquartered in Eindhoven, the Netherlands. It develops and supplies chips and related technologies for automotive, industrial and Internet of Things, mobile, and communications infrastructure applications. Its products include microcontrollers and processors, analog and mixed-signal components, connectivity solutions, and security technologies. In the automotive sector, NXP supplies technologies used in vehicle networking, radar, and safety systems; its other offerings support applications such as secure identification and near-field communication.