NXP Semiconductors (NASDAQ:NXPI) Announces Quarterly Dividend of $1.01

Posted by Lindsey Winhoffer on May 26th, 2023

NXP Semiconductors (NASDAQ:NXPI – Get Rating) announced a quarterly dividend on Thursday, May 25th, Zacks reports. Investors of record on Wednesday, June 14th will be given a dividend of 1.014 per share by the semiconductor provider on Thursday, July 6th. This represents a $4.06 annualized dividend and a yield of 2.37%. The ex-dividend date is Tuesday, June 13th.

NXP Semiconductors has raised its dividend payment by an average of 39.3% per year over the last three years and has raised its dividend every year for the last 3 years. NXP Semiconductors has a dividend payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect NXP Semiconductors to earn $12.71 per share next year, which means the company should continue to be able to cover its $4.06 annual dividend with an expected future payout ratio of 31.9%.

NXP Semiconductors Trading Up 2.9 %

NXPI opened at $171.34 on Friday. NXP Semiconductors has a twelve month low of $132.08 and a twelve month high of $198.28. The company has a 50-day simple moving average of $171.86 and a 200 day simple moving average of $172.44. The company has a quick ratio of 1.28, a current ratio of 1.75 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $44.46 billion, a price-to-earnings ratio of 16.43, a P/E/G ratio of 0.65 and a beta of 1.51.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Citigroup dropped their target price on shares of NXP Semiconductors from $180.00 to $175.00 in a report on Wednesday, May 3rd. Deutsche Bank Aktiengesellschaft upped their price objective on NXP Semiconductors from $185.00 to $200.00 in a research note on Wednesday, February 1st. Morgan Stanley upped their price objective on NXP Semiconductors from $174.00 to $177.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 1st. StockNews.com assumed coverage on NXP Semiconductors in a research note on Thursday, May 18th. They issued a “buy” rating for the company. Finally, Barclays increased their target price on shares of NXP Semiconductors from $160.00 to $170.00 in a research report on Wednesday, May 3rd. Ten analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, NXP Semiconductors has a consensus rating of “Moderate Buy” and an average price target of $190.09.

Insider Buying and Selling

In other NXP Semiconductors news, EVP Jennifer Wuamett sold 15,000 shares of the firm’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $166.52, for a total transaction of $2,497,800.00. Following the transaction, the executive vice president now directly owns 30,569 shares in the company, valued at approximately $5,090,349.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On NXP Semiconductors

Several large investors have recently bought and sold shares of the stock. Centaurus Financial Inc. bought a new position in NXP Semiconductors during the 1st quarter valued at $121,000. Rockefeller Capital Management L.P. lifted its stake in NXP Semiconductors by 14.4% during the 1st quarter. Rockefeller Capital Management L.P. now owns 6,263 shares of the semiconductor provider’s stock valued at $1,166,000 after acquiring an additional 790 shares in the last quarter. Chevy Chase Trust Holdings LLC raised its stake in shares of NXP Semiconductors by 1.0% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 150,617 shares of the semiconductor provider’s stock worth $28,086,000 after purchasing an additional 1,544 shares during the period. Sunbelt Securities Inc. raised its stake in shares of NXP Semiconductors by 1.5% during the 1st quarter. Sunbelt Securities Inc. now owns 4,213 shares of the semiconductor provider’s stock worth $765,000 after purchasing an additional 63 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of NXP Semiconductors by 12.9% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 10,481 shares of the semiconductor provider’s stock worth $1,954,000 after purchasing an additional 1,201 shares during the period. 88.70% of the stock is currently owned by institutional investors.

NXP Semiconductors Company Profile

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NXP Semiconductors NV is a holding company, which engages in the provision of semiconductor solutions. Its portfolio includes intellectual property, deep application knowledge, process technology and manufacturing expertise in the domains of cryptography-security, high-speed interface, radio frequency (RF), mixed-signal analog-digital, power management, digital signal processing, and embedded system design.