Massachusetts Financial Services Co. MA Cuts Stock Position in NXP Semiconductors N.V. $NXPI
by Sarita Garza · The Markets DailyMassachusetts Financial Services Co. MA trimmed its position in shares of NXP Semiconductors N.V. (NASDAQ:NXPI – Free Report) by 6.2% in the third quarter, HoldingsChannel.com reports. The fund owned 7,728,322 shares of the semiconductor provider’s stock after selling 509,047 shares during the period. Massachusetts Financial Services Co. MA’s holdings in NXP Semiconductors were worth $1,759,971,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the business. Brown Lisle Cummings Inc. increased its stake in NXP Semiconductors by 121.7% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 153 shares of the semiconductor provider’s stock worth $33,000 after buying an additional 84 shares during the period. Delos Wealth Advisors LLC purchased a new stake in shares of NXP Semiconductors during the second quarter worth $35,000. True Wealth Design LLC raised its stake in shares of NXP Semiconductors by 375.6% in the second quarter. True Wealth Design LLC now owns 195 shares of the semiconductor provider’s stock valued at $43,000 after acquiring an additional 154 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of NXP Semiconductors in the second quarter valued at $43,000. Finally, North Capital Inc. boosted its holdings in NXP Semiconductors by 119.8% in the third quarter. North Capital Inc. now owns 189 shares of the semiconductor provider’s stock valued at $43,000 after purchasing an additional 103 shares during the period. Institutional investors and hedge funds own 90.54% of the company’s stock.
NXP Semiconductors Price Performance
Shares of NASDAQ:NXPI opened at $237.11 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.37 and a quick ratio of 1.69. NXP Semiconductors N.V. has a 12 month low of $148.09 and a 12 month high of $255.45. The firm has a market capitalization of $59.67 billion, a P/E ratio of 29.35, a P/E/G ratio of 2.98 and a beta of 1.46. The company’s fifty day moving average price is $218.07 and its 200 day moving average price is $220.98.
NXP Semiconductors (NASDAQ:NXPI – Get Free Report) last posted its earnings results on Tuesday, October 28th. The semiconductor provider reported $3.11 EPS for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.01). The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.15 billion. NXP Semiconductors had a return on equity of 26.92% and a net margin of 17.11%.The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.45 EPS. As a group, sell-side analysts predict that NXP Semiconductors N.V. will post 10.28 earnings per share for the current fiscal year.
NXP Semiconductors Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 7th. Investors of record on Wednesday, December 10th were paid a dividend of $1.014 per share. The ex-dividend date was Wednesday, December 10th. This represents a $4.06 dividend on an annualized basis and a yield of 1.7%. NXP Semiconductors’s dividend payout ratio is currently 50.25%.
Insiders Place Their Bets
In other news, EVP Jennifer Wuamett sold 12,425 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $220.94, for a total transaction of $2,745,179.50. Following the completion of the sale, the executive vice president owned 11,811 shares in the company, valued at approximately $2,609,522.34. This represents a 51.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christopher L. Jensen sold 2,300 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $228.17, for a total value of $524,791.00. Following the sale, the executive vice president owned 9,965 shares of the company’s stock, valued at $2,273,714.05. This trade represents a 18.75% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 23,097 shares of company stock valued at $5,003,058. Insiders own 0.12% of the company’s stock.
Analyst Ratings Changes
Several brokerages have weighed in on NXPI. Evercore ISI upped their price target on NXP Semiconductors from $289.00 to $292.00 in a report on Wednesday, October 29th. Truist Financial upped their target price on shares of NXP Semiconductors from $254.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Wells Fargo & Company lifted their price target on shares of NXP Semiconductors from $260.00 to $265.00 and gave the stock an “overweight” rating in a research note on Thursday. Barclays restated an “overweight” rating and issued a $255.00 price objective on shares of NXP Semiconductors in a report on Thursday. Finally, Arete increased their target price on NXP Semiconductors from $273.90 to $324.40 and gave the company a “buy” rating in a report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $266.15.
View Our Latest Research Report on NXP Semiconductors
About NXP Semiconductors
NXP Semiconductors N.V. is a global semiconductor company headquartered in Eindhoven, the Netherlands, that designs and supplies mixed-signal and standard product solutions for a broad range of end markets. The company focuses on enabling secure connections and infrastructure for embedded applications, developing technologies used across automotive, industrial and Internet of Things (IoT), mobile, and communication infrastructure segments. NXP’s offerings target customers that require reliable, secure, and high-performance semiconductor components for connected devices and systems.
Product lines include microcontrollers and application processors, secure elements and authentication technologies, RF and high-power analog components, connectivity solutions, and vehicle networking and infotainment systems.
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