Waycross Partners LLC Buys 178,813 Shares of NXP Semiconductors N.V. $NXPI

Waycross Partners LLC bought a new stake in NXP Semiconductors N.V. (NASDAQ:NXPI) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 178,813 shares of the semiconductor provider’s stock, valued at approximately $42,473,000. NXP Semiconductors accounts for 3.3% of Waycross Partners LLC’s investment portfolio, making the stock its 10th biggest position. Waycross Partners LLC owned 0.07% of NXP Semiconductors as of its most recent SEC filing.

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

Insider Buying and Selling

In other NXP Semiconductors news, EVP Andrew Micallef sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $226.04, for a total value of $226,040.00. Following the completion of the transaction, the executive vice president owned 7,942 shares in the company, valued at $1,795,209.68. The trade was a 11.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony R. Foxx sold 400 shares of the company’s stock in a transaction 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 sale, the director directly owned 2,942 shares in the company, valued at $775,511.20. This represents a 11.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,755 shares of company stock valued at $1,136,680 in the last ninety days. Company insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

NXPI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of NXP Semiconductors from $295.00 to $300.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Jefferies Financial Group lowered their price objective on shares of NXP Semiconductors from $370.00 to $350.00 and set a “buy” rating for the company in a research report on Wednesday, October 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of NXP Semiconductors in a report on Thursday, October 29th. Mizuho dropped their target price on shares of NXP Semiconductors from $200.00 to $190.00 and set an “underperform” rating for the company in a report on Wednesday, July 29th. Finally, Morgan Stanley cut their target price on NXP Semiconductors from $338.00 to $313.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 28th. Sixteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, NXP Semiconductors currently has a consensus rating of “Moderate Buy” and an average price target of $295.78.

NXP Semiconductors Trading Up 1.6%

NXP Semiconductors stock traded up $3.86 during midday trading on Friday, reaching $248.29. 7,155,641 shares of the stock traded hands, compared to its average volume of 4,473,671. The firm has a market cap of $62.58 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 0.87 and a beta of 1.83. The company has a current ratio of 2.12, a quick ratio of 1.47 and a debt-to-equity ratio of 0.80. The company has a 50-day simple moving average of $236.09 and a two-hundred day simple moving average of $246.54. NXP Semiconductors N.V. has a 12-month low of $183.00 and a 12-month high of $339.95.

NXP Semiconductors (NASDAQ:NXPI) last issued its quarterly earnings results on Wednesday, October 28th. The semiconductor provider reported $4.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.12 by $0.08. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.76 billion. NXP Semiconductors had a net margin of 23.40% and a return on equity of 28.57%. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.11 earnings per share. Research analysts expect that NXP Semiconductors N.V. will post 13.81 earnings per share for the current fiscal year.

NXP Semiconductors declared that its board has initiated a share buyback plan on Tuesday, October 27th that authorizes the company to repurchase $5 billion in shares. This repurchase authorization authorizes the semiconductor provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

NXP Semiconductors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Wednesday, September 16th were paid a dividend of $1.0140 per share. This represents a $4.06 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, September 16th. NXP Semiconductors’s dividend payout ratio is presently 31.92%.

About NXP Semiconductors

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.

The company traces its origins to Philips’ semiconductor business, which became an independent company in 2006.