HITE Hedge Asset Management LLC Invests $13.45 Million in NXP Semiconductors (NASDAQ:NXPI)

HITE Hedge Asset Management LLC acquired a new position in NXP Semiconductors (NASDAQ:NXPI) in the third quarter, Holdings Channel reports. The fund acquired 56,018 shares of the semiconductor provider’s stock, valued at approximately $13,445,000. NXP Semiconductors accounts for approximately 1.5% of HITE Hedge Asset Management LLC’s holdings, making the stock its 23rd biggest holding.

A number of other institutional investors also recently modified their holdings of NXPI. Drive Wealth Management LLC lifted its position in NXP Semiconductors by 4.3% during the 2nd quarter. Drive Wealth Management LLC now owns 953 shares of the semiconductor provider’s stock valued at $257,000 after acquiring an additional 39 shares during the period. Patten Group Inc. lifted its stake in NXP Semiconductors by 1.2% in the second quarter. Patten Group Inc. now owns 3,454 shares of the semiconductor provider’s stock worth $929,000 after acquiring an additional 42 shares during the period. West Paces Advisors Inc. increased its holdings in shares of NXP Semiconductors by 3.1% during the second quarter. West Paces Advisors Inc. now owns 1,500 shares of the semiconductor provider’s stock valued at $404,000 after acquiring an additional 45 shares in the last quarter. Octavia Wealth Advisors LLC grew its stake in shares of NXP Semiconductors by 5.4% during the 2nd quarter. Octavia Wealth Advisors LLC now owns 880 shares of the semiconductor provider’s stock worth $238,000 after purchasing an additional 45 shares during the period. Finally, Crumly & Associates Inc. lifted its holdings in NXP Semiconductors by 2.0% in the 3rd quarter. Crumly & Associates Inc. now owns 2,274 shares of the semiconductor provider’s stock valued at $546,000 after purchasing an additional 45 shares in the last quarter. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Jennifer Wuamett sold 3,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $232.35, for a total value of $813,225.00. Following the sale, the executive vice president now owns 30,269 shares of the company’s stock, valued at approximately $7,033,002.15. This represents a 10.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.11% of the company’s stock.

NXP Semiconductors Stock Performance

Shares of NXP Semiconductors stock opened at $233.61 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.60 and a current ratio of 2.35. NXP Semiconductors has a one year low of $201.58 and a one year high of $296.08. The company has a 50-day simple moving average of $233.14 and a two-hundred day simple moving average of $250.13. The company has a market capitalization of $59.37 billion, a PE ratio of 22.29, a P/E/G ratio of 4.62 and a beta of 1.46.

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

NXP Semiconductors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders 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 yield of 1.74%. The ex-dividend date of this dividend is Thursday, December 5th. NXP Semiconductors’s payout ratio is 38.74%.

Analyst Ratings Changes

A number of analysts recently weighed in on NXPI shares. Mizuho set a $290.00 target price on shares of NXP Semiconductors in a research note on Friday, October 18th. Truist Financial dropped their target price on NXP Semiconductors from $287.00 to $252.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Stifel Nicolaus reduced their price target on NXP Semiconductors from $275.00 to $260.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Needham & Company LLC dropped their price target on NXP Semiconductors from $300.00 to $250.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, Barclays decreased their target price on NXP Semiconductors from $330.00 to $280.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.