Richardson Financial Services Inc. Sells 215 Shares of NXP Semiconductors (NASDAQ:NXPI)

Richardson Financial Services Inc. cut its position in NXP Semiconductors (NASDAQ:NXPI) by 8.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,301 shares of the semiconductor provider’s stock after selling 215 shares during the period. Richardson Financial Services Inc.’s holdings in NXP Semiconductors were worth $619,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Middleton & Co. Inc. MA bought a new position in NXP Semiconductors in the 2nd quarter valued at approximately $215,000. Seven Eight Capital LP bought a new position in shares of NXP Semiconductors during the second quarter valued at $1,541,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of NXP Semiconductors by 14.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,803 shares of the semiconductor provider’s stock valued at $3,389,000 after purchasing an additional 1,628 shares in the last quarter. Tredje AP fonden increased its holdings in NXP Semiconductors by 4.7% in the 2nd quarter. Tredje AP fonden now owns 259,463 shares of the semiconductor provider’s stock worth $69,819,000 after buying an additional 11,600 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in NXP Semiconductors by 2.2% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 19,699 shares of the semiconductor provider’s stock worth $5,301,000 after buying an additional 425 shares during the last quarter. Institutional investors own 90.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NXPI. TD Cowen reduced their price target on shares of NXP Semiconductors from $330.00 to $310.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Barclays boosted their target price on shares of NXP Semiconductors from $280.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Morgan Stanley dropped their price target on NXP Semiconductors from $275.00 to $271.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Needham & Company LLC upped their price objective on NXP Semiconductors from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Citigroup raised their target price on NXP Semiconductors from $150.00 to $220.00 and gave the stock a “sell” rating in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $294.89.

NXP Semiconductors Stock Performance

Shares of NASDAQ NXPI opened at $231.51 on Thursday. The stock has a market cap of $59.19 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 2.50 and a beta of 1.49. NXP Semiconductors has a 1 year low of $167.21 and a 1 year high of $296.08. The firm has a fifty day moving average price of $249.70 and a 200-day moving average price of $254.56. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.21 and a quick ratio of 1.52.

NXP Semiconductors (NASDAQ:NXPI) last issued its quarterly earnings results on Monday, July 22nd. The semiconductor provider reported $3.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.38. NXP Semiconductors had a return on equity of 35.65% and a net margin of 21.21%. The business had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the business posted $3.04 EPS. NXP Semiconductors’s revenue for the quarter was down 5.2% compared to the same quarter last year. Equities analysts anticipate that NXP Semiconductors will post 11.97 earnings per share for the current fiscal year.

NXP Semiconductors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Thursday, September 12th will be issued a $1.014 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $4.06 dividend on an annualized basis and a yield of 1.75%. NXP Semiconductors’s dividend payout ratio is presently 37.40%.

Insiders Place Their Bets

In other news, EVP Jennifer Wuamett sold 3,500 shares of NXP Semiconductors 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 sale, the executive vice president now owns 30,269 shares in the company, valued at $7,033,002.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Julie Southern acquired 146 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was acquired at an average price of $257.54 per share, with a total value of $37,600.84. Following the acquisition, the insider now directly owns 11,297 shares of the company’s stock, valued at $2,909,429.38. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jennifer Wuamett sold 3,500 shares of the firm’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 transaction, the executive vice president now owns 30,269 shares of the company’s stock, valued at approximately $7,033,002.15. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by corporate insiders.

About NXP Semiconductors

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.