HGK Asset Management Inc. Increases Stock Holdings in NXP Semiconductors NV (NASDAQ:NXPI)
HGK Asset Management Inc. raised its stake in NXP Semiconductors NV (NASDAQ:NXPI) by 66.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,691 shares of the semiconductor provider’s stock after purchasing an additional 1,865 shares during the quarter. HGK Asset Management Inc.’s holdings in NXP Semiconductors were worth $458,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in NXPI. Somerville Kurt F purchased a new stake in shares of NXP Semiconductors in the first quarter valued at approximately $312,000. Cohen Klingenstein LLC purchased a new stake in shares of NXP Semiconductors in the first quarter valued at approximately $353,000. Lantz Financial LLC purchased a new stake in shares of NXP Semiconductors in the first quarter valued at approximately $1,217,000. Jacobs & Co. CA boosted its stake in shares of NXP Semiconductors by 277.7% in the first quarter. Jacobs & Co. CA now owns 40,720 shares of the semiconductor provider’s stock valued at $3,599,000 after buying an additional 29,938 shares in the last quarter. Finally, Pennsylvania Trust Co boosted its stake in shares of NXP Semiconductors by 18.6% in the first quarter. Pennsylvania Trust Co now owns 18,760 shares of the semiconductor provider’s stock valued at $1,658,000 after buying an additional 2,940 shares in the last quarter. Institutional investors own 76.05% of the company’s stock.
NXPI has been the subject of several research reports. Piper Jaffray Companies set a $55.00 price objective on Pacira Biosciences and gave the stock a “buy” rating in a report on Tuesday, April 9th. Morgan Stanley reaffirmed a “neutral” rating and set a $230.00 price objective on shares of Tesla in a report on Wednesday, June 12th. Bank of America reaffirmed a “buy” rating and set a $105.00 price objective (up from $100.00) on shares of Zendesk in a report on Wednesday, May 1st. Zacks Investment Research cut ZEALAND PHARMA/S from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Mizuho lifted their price objective on NXP Semiconductors from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $103.83.
NXP Semiconductors (NASDAQ:NXPI) last released its quarterly earnings results on Monday, April 29th. The semiconductor provider reported $1.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.47. NXP Semiconductors had a return on equity of 18.33% and a net margin of 23.06%. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Equities research analysts expect that NXP Semiconductors NV will post 6.56 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were issued a $0.25 dividend. The ex-dividend date was Thursday, June 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.96%. NXP Semiconductors’s dividend payout ratio (DPR) is 16.84%.
NXP Semiconductors Profile
NXP Semiconductors N.V., a semiconductor company, provides high performance mixed signal solutions for radio frequency (RF), analog, power management, interface, security, and digital processing products worldwide. The company offers products for audio and visual head-end unit applications, such as single-chip radio solutions, multi-standard radios, audio amplifiers and power analog products, and i.MX applications processors; in-vehicle networking products; two-way secure entry products; various sensors and microcontrollers; power management solutions; battery cell controllers; and solutions for radar, vision, vehicle-to-vehicle, and vehicle-to-infrastructure systems.
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