56,018 Shares in NXP Semiconductors (NASDAQ:NXPI) Bought by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC bought a new position in NXP Semiconductors (NASDAQ:NXPI) in the 3rd quarter, Holdings Channel.com reports. The firm bought 56,018 shares of the semiconductor provider’s stock, valued at approximately $13,445,000. NXP Semiconductors makes up 1.5% of HITE Hedge Asset Management LLC’s portfolio, making the stock its 23rd biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp grew its position in shares of NXP Semiconductors by 67.2% in the third quarter. Van ECK Associates Corp now owns 3,041,129 shares of the semiconductor provider’s stock valued at $718,680,000 after purchasing an additional 1,222,736 shares during the last quarter. Ameriprise Financial Inc. boosted its position in NXP Semiconductors by 5.1% in the second quarter. Ameriprise Financial Inc. now owns 2,428,779 shares of the semiconductor provider’s stock valued at $653,567,000 after buying an additional 118,366 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in NXP Semiconductors by 387.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,294,340 shares of the semiconductor provider’s stock valued at $550,665,000 after purchasing an additional 1,823,650 shares in the last quarter. Legal & General Group Plc boosted its stake in NXP Semiconductors by 1.6% in the second quarter. Legal & General Group Plc now owns 2,271,866 shares of the semiconductor provider’s stock valued at $611,336,000 after acquiring an additional 35,104 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in NXP Semiconductors by 5.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,533,421 shares of the semiconductor provider’s stock worth $412,628,000 after acquiring an additional 80,087 shares during the period. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Insider Buying and Selling

In related news, EVP Jennifer Wuamett sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $232.35, for a total transaction of $813,225.00. Following the transaction, the executive vice president now directly owns 30,269 shares of the company’s stock, valued at approximately $7,033,002.15. The trade was a 10.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.11% of the stock is currently owned by insiders.

NXP Semiconductors Price Performance

NASDAQ NXPI opened at $233.61 on Tuesday. The company’s 50 day moving average is $233.14 and its two-hundred day moving average is $250.13. NXP Semiconductors has a 12 month low of $201.58 and a 12 month high of $296.08. The company has a current ratio of 2.35, a quick ratio of 1.60 and a debt-to-equity ratio of 0.99. The stock has a market cap of $59.37 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 4.62 and a beta of 1.46.

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

NXP Semiconductors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Thursday, December 5th will be issued a $1.014 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.74%. NXP Semiconductors’s dividend payout ratio (DPR) is presently 38.74%.

Analyst Ratings Changes

A number of brokerages have recently commented on NXPI. UBS Group reduced their price target on shares of NXP Semiconductors from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. TD Cowen reduced their price target on NXP Semiconductors from $300.00 to $285.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Barclays lowered their price target on NXP Semiconductors from $330.00 to $280.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Truist Financial dropped their price target on NXP Semiconductors from $287.00 to $252.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Morgan Stanley dropped their target price on NXP Semiconductors from $250.00 to $235.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. One 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.