Principal Financial Group Inc. Buys 5,722 Shares of NXP Semiconductors (NASDAQ:NXPI)

Principal Financial Group Inc. grew its stake in shares of NXP Semiconductors (NASDAQ:NXPI) by 1.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 303,895 shares of the semiconductor provider’s stock after acquiring an additional 5,722 shares during the period. Principal Financial Group Inc.’s holdings in NXP Semiconductors were worth $72,938,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NXPI. Family Firm Inc. purchased a new position in NXP Semiconductors during the second quarter valued at approximately $27,000. Addison Advisors LLC grew its position in shares of NXP Semiconductors by 224.2% during the 2nd quarter. Addison Advisors LLC now owns 107 shares of the semiconductor provider’s stock valued at $29,000 after purchasing an additional 74 shares in the last quarter. FSA Wealth Management LLC bought a new position in shares of NXP Semiconductors in the third quarter worth $33,000. Valley Wealth Managers Inc. purchased a new stake in shares of NXP Semiconductors in the second quarter worth $48,000. Finally, Avior Wealth Management LLC boosted its stake in NXP Semiconductors by 182.1% during the third quarter. Avior Wealth Management LLC now owns 220 shares of the semiconductor provider’s stock valued at $53,000 after buying an additional 142 shares during the period. 90.54% of the stock is currently owned by institutional investors.

NXP Semiconductors Trading Up 1.4 %

NXPI opened at $210.24 on Friday. NXP Semiconductors has a one year low of $201.58 and a one year high of $296.08. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.35 and a quick ratio of 1.60. The business has a 50 day simple moving average of $227.92 and a two-hundred day simple moving average of $244.59. The firm has a market capitalization of $53.43 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 4.37 and a beta of 1.46.

NXP Semiconductors (NASDAQ:NXPI) last announced its earnings results on Monday, November 4th. The semiconductor provider reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.02. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.25 billion. NXP Semiconductors had a return on equity of 33.57% and a net margin of 20.98%. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.31 earnings per share. Analysts predict that NXP Semiconductors will post 11.33 EPS for the current year.

NXP Semiconductors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Thursday, December 5th will be paid a dividend of $1.014 per share. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Thursday, December 5th. NXP Semiconductors’s payout ratio is 38.65%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Oppenheimer lowered their price target on NXP Semiconductors from $330.00 to $300.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Evercore ISI dropped their target price on shares of NXP Semiconductors from $370.00 to $315.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Truist Financial cut their price target on shares of NXP Semiconductors from $287.00 to $252.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Wells Fargo & Company began coverage on shares of NXP Semiconductors in a report on Friday, November 22nd. They set an “overweight” rating and a $250.00 price objective for the company. Finally, Susquehanna reduced their target price on NXP Semiconductors from $260.00 to $250.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $274.14.

NXP Semiconductors Profile

NXP Semiconductors N.V. offers various semiconductor products. The company's product portfolio includes microcontrollers; application processors, including i.MX application processors, and i.MX 8 and 9 family of applications processors; communication processors; wireless connectivity solutions, such as near field communications, ultra-wideband, Bluetooth low-energy, Zigbee, and Wi-Fi and Wi-Fi/Bluetooth integrated SoCs; analog and interface devices; radio frequency power amplifiers; and security controllers, as well as semiconductor-based environmental and inertial sensors, including pressure, inertial, magnetic, and gyroscopic sensors.