NXP Semiconductors (NASDAQ:NXPI) Shares Sold by Sound Shore Management Inc. CT

Sound Shore Management Inc. CT lowered its stake in shares of NXP Semiconductors (NASDAQ:NXPI) by 3.1% during the second quarter, Holdings Channel reports. The institutional investor owned 312,431 shares of the semiconductor provider’s stock after selling 9,910 shares during the period. NXP Semiconductors comprises about 2.8% of Sound Shore Management Inc. CT’s portfolio, making the stock its 15th biggest position. Sound Shore Management Inc. CT’s holdings in NXP Semiconductors were worth $84,072,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sei Investments Co. boosted its position in NXP Semiconductors by 31.1% during the second quarter. Sei Investments Co. now owns 78,034 shares of the semiconductor provider’s stock worth $20,998,000 after purchasing an additional 18,529 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of NXP Semiconductors by 1.0% in the second quarter. Pacer Advisors Inc. now owns 30,658 shares of the semiconductor provider’s stock valued at $8,250,000 after purchasing an additional 292 shares in the last quarter. AE Wealth Management LLC grew its position in shares of NXP Semiconductors by 9.1% in the second quarter. AE Wealth Management LLC now owns 8,144 shares of the semiconductor provider’s stock valued at $2,191,000 after purchasing an additional 682 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of NXP Semiconductors by 9.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 627 shares of the semiconductor provider’s stock worth $169,000 after purchasing an additional 54 shares in the last quarter. Finally, Ieq Capital LLC raised its position in shares of NXP Semiconductors by 55.5% during the 2nd quarter. Ieq Capital LLC now owns 8,204 shares of the semiconductor provider’s stock worth $2,208,000 after purchasing an additional 2,927 shares during the last quarter. 90.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Barclays increased their price objective on 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 lowered their price target on shares of NXP Semiconductors from $275.00 to $271.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. TD Cowen reduced their price objective on shares of NXP Semiconductors from $330.00 to $310.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. StockNews.com lowered shares of NXP Semiconductors from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, Mizuho upgraded NXP Semiconductors from a “neutral” rating to a “buy” rating and boosted their price target for the company from $265.00 to $325.00 in a report on Friday, May 24th. One equities research 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $294.89.

Insider Buying and Selling

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

NXP Semiconductors Stock Performance

NXP Semiconductors stock opened at $231.88 on Friday. NXP Semiconductors has a 52 week low of $167.21 and a 52 week high of $296.08. The company has a current ratio of 2.21, a quick ratio of 1.52 and a debt-to-equity ratio of 1.04. The stock has a market cap of $59.29 billion, a P/E ratio of 21.41, a price-to-earnings-growth ratio of 2.50 and a beta of 1.49. The stock has a 50 day moving average of $248.01 and a 200-day moving average of $254.30.

NXP Semiconductors (NASDAQ:NXPI) last posted its quarterly earnings results on Monday, July 22nd. The semiconductor provider reported $3.20 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 the consensus estimate of $3.13 billion. During the same period last year, the firm earned $3.04 earnings per share. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, analysts expect that NXP Semiconductors will post 11.97 EPS for the current fiscal year.

NXP Semiconductors Dividend Announcement

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

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.