PNC Financial Services Group Inc. Sells 3,202 Shares of NXP Semiconductors (NASDAQ:NXPI)

PNC Financial Services Group Inc. decreased its stake in NXP Semiconductors (NASDAQ:NXPI) by 4.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 72,498 shares of the semiconductor provider’s stock after selling 3,202 shares during the quarter. PNC Financial Services Group Inc.’s holdings in NXP Semiconductors were worth $17,400,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. GDS Wealth Management boosted its holdings in shares of NXP Semiconductors by 7.7% during the 3rd quarter. GDS Wealth Management now owns 55,740 shares of the semiconductor provider’s stock valued at $13,378,000 after acquiring an additional 3,985 shares in the last quarter. Banque Cantonale Vaudoise raised its position in NXP Semiconductors by 60.2% in the third quarter. Banque Cantonale Vaudoise now owns 25,850 shares of the semiconductor provider’s stock valued at $6,204,000 after purchasing an additional 9,710 shares during the last quarter. Mather Group LLC. boosted its stake in shares of NXP Semiconductors by 23.3% during the second quarter. Mather Group LLC. now owns 566 shares of the semiconductor provider’s stock valued at $140,000 after purchasing an additional 107 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of NXP Semiconductors by 21.1% during the second quarter. Mackenzie Financial Corp now owns 154,293 shares of the semiconductor provider’s stock worth $41,519,000 after purchasing an additional 26,851 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of NXP Semiconductors by 1.9% in the third quarter. Principal Financial Group Inc. now owns 303,895 shares of the semiconductor provider’s stock valued at $72,938,000 after buying an additional 5,722 shares during the period. Institutional investors and hedge funds own 90.54% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on NXPI. Citic Securities began coverage on shares of NXP Semiconductors in a research report on Friday, October 11th. They set a $288.00 target price on the stock. Stifel Nicolaus reduced their price objective on shares of NXP Semiconductors from $275.00 to $260.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Needham & Company LLC lowered their target price on NXP Semiconductors from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. UBS Group reduced their price target on NXP Semiconductors from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, TD Cowen lowered their price objective on NXP Semiconductors from $300.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $276.76.

Insiders Place Their Bets

In related 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 in the company, valued at $7,033,002.15. This represents a 10.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.11% of the company’s stock.

NXP Semiconductors Price Performance

Shares of NASDAQ NXPI opened at $224.37 on Friday. The firm has a market capitalization of $57.03 billion, a P/E ratio of 21.41, a P/E/G ratio of 4.42 and a beta of 1.49. The firm’s 50-day moving average price is $233.60 and its 200-day moving average price is $251.75. The company has a current ratio of 2.35, a quick ratio of 1.60 and a debt-to-equity ratio of 0.99. NXP Semiconductors has a 1-year low of $198.00 and a 1-year high of $296.08.

NXP Semiconductors (NASDAQ:NXPI) last posted its quarterly earnings results on Monday, November 4th. The semiconductor provider reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the prior year, the business earned $3.31 EPS. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts anticipate that NXP Semiconductors will post 11.37 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, October 9th. Investors of record on Thursday, September 12th were given a $1.014 dividend. This represents a $4.06 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend was Thursday, September 12th. NXP Semiconductors’s payout ratio is currently 38.74%.

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.