NXP Semiconductors (NASDAQ:NXPI) Shares Sold by Prelude Capital Management LLC

Prelude Capital Management LLC reduced its stake in NXP Semiconductors (NASDAQ:NXPI – Get Rating) by 49.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,968 shares of the semiconductor provider’s stock after selling 2,941 shares during the quarter. Prelude Capital Management LLC’s holdings in NXP Semiconductors were worth $438,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. ARS Investment Partners LLC purchased a new position in shares of NXP Semiconductors during the third quarter worth $30,000. Rosenberg Matthew Hamilton boosted its holdings in NXP Semiconductors by 455.0% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 222 shares of the semiconductor provider’s stock valued at $33,000 after acquiring an additional 182 shares during the period. Old North State Trust LLC acquired a new position in NXP Semiconductors in the 3rd quarter valued at about $39,000. CoreCap Advisors LLC purchased a new stake in NXP Semiconductors during the second quarter worth about $51,000. Finally, GHP Investment Advisors Inc. purchased a new position in shares of NXP Semiconductors in the third quarter valued at approximately $61,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on NXPI. Barclays increased their target price on shares of NXP Semiconductors from $140.00 to $160.00 and gave the stock an “equal weight” rating in a report on Monday, January 23rd. Oppenheimer lifted their target price on NXP Semiconductors from $175.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, February 1st. Deutsche Bank Aktiengesellschaft upped their price target on NXP Semiconductors from $185.00 to $200.00 in a report on Wednesday, February 1st. Raymond James lifted their price objective on NXP Semiconductors from $190.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, February 1st. Finally, Cowen upped their target price on shares of NXP Semiconductors from $200.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 1st. Ten research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $188.95.

NXP Semiconductors Stock Performance

Shares of NXPI opened at $174.93 on Tuesday. The stock has a market capitalization of $45.40 billion, a P/E ratio of 16.57, a P/E/G ratio of 0.74 and a beta of 1.53. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.58 and a current ratio of 2.12. NXP Semiconductors has a 1 year low of $132.08 and a 1 year high of $198.28. The company’s fifty day moving average is $178.14 and its two-hundred day moving average is $165.89.

NXP Semiconductors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 15th will be given a dividend of $1.014 per share. This is a boost from NXP Semiconductors’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $4.06 annualized dividend and a yield of 2.32%. NXP Semiconductors’s payout ratio is presently 32.01%.

About NXP Semiconductors

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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.