Private Asset Management Inc. Reduces Stake in NXP Semiconductors (NASDAQ:NXPI)

Private Asset Management Inc. trimmed its position in shares of NXP Semiconductors (NASDAQ:NXPI) by 18.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,044 shares of the semiconductor provider’s stock after selling 2,581 shares during the quarter. Private Asset Management Inc.’s holdings in NXP Semiconductors were worth $2,260,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NXPI. Level Four Advisory Services LLC increased its position in NXP Semiconductors by 10.1% during the first quarter. Level Four Advisory Services LLC now owns 3,377 shares of the semiconductor provider’s stock worth $630,000 after buying an additional 310 shares in the last quarter. Prelude Capital Management LLC purchased a new stake in shares of NXP Semiconductors during the first quarter worth about $247,000. ProShare Advisors LLC raised its position in shares of NXP Semiconductors by 13.5% in the first quarter. ProShare Advisors LLC now owns 285,301 shares of the semiconductor provider’s stock valued at $53,202,000 after buying an additional 33,981 shares during the last quarter. Old North State Trust LLC lifted its stake in shares of NXP Semiconductors by 37.2% during the first quarter. Old North State Trust LLC now owns 664 shares of the semiconductor provider’s stock valued at $124,000 after buying an additional 180 shares during the period. Finally, Toroso Investments LLC boosted its position in NXP Semiconductors by 14.0% during the first quarter. Toroso Investments LLC now owns 10,502 shares of the semiconductor provider’s stock worth $1,958,000 after acquiring an additional 1,290 shares during the last quarter. Institutional investors and hedge funds own 90.21% of the company’s stock.

Analysts Set New Price Targets

NXPI has been the subject of several analyst reports. Wolfe Research began coverage on NXP Semiconductors in a report on Wednesday, July 19th. They issued a “peer perform” rating for the company. Sanford C. Bernstein raised their price target on NXP Semiconductors from $175.00 to $210.00 in a research note on Wednesday, July 26th. KeyCorp lifted their price target on NXP Semiconductors from $225.00 to $260.00 and gave the company an “overweight” rating in a report on Wednesday, July 26th. Oppenheimer increased their price objective on shares of NXP Semiconductors from $205.00 to $245.00 and gave the stock an “outperform” rating in a report on Friday, July 21st. Finally, TD Cowen raised their target price on shares of NXP Semiconductors from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. Eleven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NXP Semiconductors presently has an average rating of “Moderate Buy” and an average target price of $225.00.

NXP Semiconductors Stock Down 0.1 %

NASDAQ:NXPI traded down $0.21 during mid-day trading on Thursday, hitting $200.19. The company had a trading volume of 109,542 shares, compared to its average volume of 2,158,855. NXP Semiconductors has a 1 year low of $132.08 and a 1 year high of $225.57. The business has a fifty day simple moving average of $209.27 and a 200-day simple moving average of $189.64. The company has a current ratio of 1.82, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $51.61 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 0.99 and a beta of 1.57.

NXP Semiconductors (NASDAQ:NXPI) last announced its earnings results on Monday, July 24th. The semiconductor provider reported $3.04 EPS for the quarter, beating the consensus estimate of $2.90 by $0.14. The business had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.20 billion. NXP Semiconductors had a return on equity of 42.95% and a net margin of 21.04%. Equities analysts forecast that NXP Semiconductors will post 12.49 earnings per share for the current fiscal year.

NXP Semiconductors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Wednesday, September 13th will be given a dividend of $1.014 per share. The ex-dividend date is Tuesday, September 12th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 2.03%. NXP Semiconductors’s payout ratio is currently 38.32%.

Insider Activity

In other news, insider Julie Southern acquired 203 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were purchased at an average price of $218.07 per share, for a total transaction of $44,268.21. Following the acquisition, the insider now directly owns 10,540 shares of the company’s stock, valued at approximately $2,298,457.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other NXP Semiconductors news, CFO William Betz sold 3,514 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $224.38, for a total value of $788,471.32. Following the transaction, the chief financial officer now directly owns 1,518 shares of the company’s stock, valued at approximately $340,608.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Julie Southern purchased 203 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were bought at an average cost of $218.07 per share, with a total value of $44,268.21. Following the transaction, the insider now directly owns 10,540 shares of the company’s stock, valued at approximately $2,298,457.80. The disclosure for this purchase can be found here. Insiders own 0.13% of the company’s stock.

NXP Semiconductors Company 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.