PNC Financial Services Group Inc. Decreases Stock Holdings in NXP Semiconductors N.V. $NXPI

PNC Financial Services Group Inc. reduced its stake in shares of NXP Semiconductors N.V. (NASDAQ:NXPI) by 10.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,379 shares of the semiconductor provider’s stock after selling 6,769 shares during the period. PNC Financial Services Group Inc.’s holdings in NXP Semiconductors were worth $11,886,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in NXP Semiconductors by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 13,612,546 shares of the semiconductor provider’s stock worth $2,954,739,000 after buying an additional 293,558 shares in the last quarter. State Street Corp grew its holdings in NXP Semiconductors by 0.5% in the 4th quarter. State Street Corp now owns 11,043,159 shares of the semiconductor provider’s stock valued at $2,407,382,000 after buying an additional 55,098 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of NXP Semiconductors by 1.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,849,741 shares of the semiconductor provider’s stock worth $1,703,865,000 after acquiring an additional 121,419 shares during the last quarter. Invesco Ltd. increased its stake in shares of NXP Semiconductors by 17.2% in the 4th quarter. Invesco Ltd. now owns 5,574,672 shares of the semiconductor provider’s stock worth $1,210,038,000 after acquiring an additional 818,985 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of NXP Semiconductors by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 5,463,756 shares of the semiconductor provider’s stock worth $1,180,572,000 after acquiring an additional 30,804 shares during the period. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Christopher L. Jensen sold 1,746 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $316.53, for a total transaction of $552,661.38. Following the completion of the transaction, the executive vice president owned 3,643 shares of the company’s stock, valued at approximately $1,153,118.79. This trade represents a 32.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Micallef sold 1,000 shares of NXP Semiconductors stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $315.57, for a total transaction of $315,570.00. Following the completion of the sale, the executive vice president owned 8,942 shares of the company’s stock, valued at $2,821,826.94. This trade represents a 10.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.05% of the stock is currently owned by insiders.

NXP Semiconductors Stock Performance

NASDAQ NXPI opened at $269.24 on Friday. The stock has a fifty day simple moving average of $295.88 and a 200-day simple moving average of $252.36. The company has a current ratio of 2.24, a quick ratio of 1.55 and a debt-to-equity ratio of 1.00. The stock has a market cap of $67.98 billion, a PE ratio of 25.76, a P/E/G ratio of 1.12 and a beta of 1.79. NXP Semiconductors N.V. has a twelve month low of $183.00 and a twelve month high of $339.95.

NXP Semiconductors (NASDAQ:NXPI) last issued its quarterly earnings data on Wednesday, April 29th. The semiconductor provider reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.07. NXP Semiconductors had a net margin of 21.03% and a return on equity of 26.75%. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the firm earned $2.64 EPS. NXP Semiconductors’s revenue was up 12.2% on a year-over-year basis. Equities analysts anticipate that NXP Semiconductors N.V. will post 13.46 earnings per share for the current year.

NXP Semiconductors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Wednesday, June 24th were given a dividend of $1.014 per share. The ex-dividend date was Wednesday, June 24th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.5%. NXP Semiconductors’s dividend payout ratio (DPR) is currently 38.85%.

Analyst Ratings Changes

Several brokerages have recently weighed in on NXPI. Evercore boosted their price target on shares of NXP Semiconductors from $260.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Oppenheimer raised their price objective on shares of NXP Semiconductors from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. boosted their target price on shares of NXP Semiconductors from $250.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Morgan Stanley increased their price target on shares of NXP Semiconductors from $299.00 to $335.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Finally, Truist Financial raised their price target on shares of NXP Semiconductors from $255.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Sixteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $307.73.

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.