Allspring Global Investments Holdings LLC Sells 62,637 Shares of NXP Semiconductors N.V. $NXPI

Allspring Global Investments Holdings LLC trimmed its position in NXP Semiconductors N.V. (NASDAQ:NXPI) by 26.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 170,272 shares of the semiconductor provider’s stock after selling 62,637 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in NXP Semiconductors were worth $33,302,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NXPI. Vanguard Group Inc. boosted its holdings in shares of 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 purchasing an additional 293,558 shares during the period. State Street Corp lifted its stake in shares of 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 purchasing an additional 55,098 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of NXP Semiconductors by 1.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,849,741 shares of the semiconductor provider’s stock valued at $1,703,865,000 after purchasing an additional 121,419 shares in the last quarter. Invesco Ltd. grew its stake in NXP Semiconductors by 17.2% in the fourth quarter. Invesco Ltd. now owns 5,574,672 shares of the semiconductor provider’s stock worth $1,210,038,000 after purchasing an additional 818,985 shares during the period. Finally, Geode Capital Management LLC grew its stake in NXP Semiconductors by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 5,463,756 shares of the semiconductor provider’s stock worth $1,180,572,000 after purchasing an additional 30,804 shares during the period. 90.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NXPI shares. Jefferies Financial Group boosted their target price on shares of NXP Semiconductors from $265.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Truist Financial lifted their target price on shares of NXP Semiconductors from $255.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Loop Capital boosted their price target on NXP Semiconductors from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Evercore upped their price target on NXP Semiconductors from $260.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Finally, Morgan Stanley raised their price objective on NXP Semiconductors from $299.00 to $335.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $307.27.

Insider Buying and Selling

In other news, EVP Andrew Hardy sold 5,289 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $235.00, for a total transaction of $1,242,915.00. Following the sale, the executive vice president owned 2,020 shares of the company’s stock, valued at $474,700. This trade represents a 72.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Micallef sold 1,000 shares of the business’s 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 transaction, the executive vice president directly owned 8,942 shares of the company’s stock, valued at $2,821,826.94. The trade was a 10.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 12,611 shares of company stock worth $3,182,068. 0.05% of the stock is owned by corporate insiders.

NXP Semiconductors Stock Performance

NASDAQ:NXPI opened at $266.53 on Monday. The stock has a market cap of $67.29 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 0.96 and a beta of 1.79. The company has a quick ratio of 1.55, a current ratio of 2.24 and a debt-to-equity ratio of 1.00. The company’s 50 day moving average price is $298.25 and its 200-day moving average price is $250.69. NXP Semiconductors N.V. has a 52 week low of $183.00 and a 52 week high of $339.95.

NXP Semiconductors (NASDAQ:NXPI) last announced its quarterly earnings data on Wednesday, April 29th. The semiconductor provider reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.98 by $0.07. The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.14 billion. NXP Semiconductors had a net margin of 21.03% and a return on equity of 26.75%. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.64 EPS. On average, equities research analysts forecast that NXP Semiconductors N.V. will post 13.49 earnings per share for the current fiscal year.

NXP Semiconductors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Wednesday, June 24th were issued a $1.014 dividend. This represents a $4.06 annualized dividend and a yield of 1.5%. The ex-dividend date was Wednesday, June 24th. NXP Semiconductors’s dividend payout ratio (DPR) is presently 38.85%.

About NXP Semiconductors

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.