US Bancorp DE lessened its holdings in NXP Semiconductors NV (NASDAQ:NXPI) by 9.9% in the 2nd quarter, Holdings Channel reports. The firm owned 54,195 shares of the semiconductor provider’s stock after selling 5,933 shares during the quarter. US Bancorp DE’s holdings in NXP Semiconductors were worth $5,291,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in NXPI. ETRADE Capital Management LLC increased its holdings in shares of NXP Semiconductors by 23.0% during the 2nd quarter. ETRADE Capital Management LLC now owns 36,039 shares of the semiconductor provider’s stock worth $3,518,000 after purchasing an additional 6,728 shares during the period. HighTower Advisors LLC lifted its position in shares of NXP Semiconductors by 33.6% during the second quarter. HighTower Advisors LLC now owns 15,608 shares of the semiconductor provider’s stock worth $1,521,000 after purchasing an additional 3,929 shares in the last quarter. Pinebridge Investments L.P. lifted its position in shares of NXP Semiconductors by 6.9% during the second quarter. Pinebridge Investments L.P. now owns 216,644 shares of the semiconductor provider’s stock worth $21,147,000 after purchasing an additional 14,006 shares in the last quarter. Profund Advisors LLC lifted its position in shares of NXP Semiconductors by 10.1% during the second quarter. Profund Advisors LLC now owns 19,039 shares of the semiconductor provider’s stock worth $1,858,000 after purchasing an additional 1,754 shares in the last quarter. Finally, Providence Capital Advisors LLC lifted its holdings in NXP Semiconductors by 2.0% in the second quarter. Providence Capital Advisors LLC now owns 21,072 shares of the semiconductor provider’s stock valued at $2,057,000 after buying an additional 404 shares during the period. 74.81% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Keith M. Shull sold 4,569 shares of NXP Semiconductors stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $105.53, for a total value of $482,166.57. Following the completion of the sale, the executive vice president now directly owns 13,783 shares in the company, valued at approximately $1,454,519.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Peter L. Bonfield sold 10,000 shares of NXP Semiconductors stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $98.36, for a total value of $983,600.00. Following the completion of the sale, the chairman now owns 24,404 shares of the company’s stock, valued at $2,400,377.44. The disclosure for this sale can be found here. Insiders have sold 18,765 shares of company stock valued at $1,919,522 in the last three months.
NXP Semiconductors (NASDAQ:NXPI) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor provider reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.52. NXP Semiconductors had a return on equity of 22.22% and a net margin of 23.10%. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.20 billion. As a group, analysts anticipate that NXP Semiconductors NV will post 6.34 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Monday, September 16th will be given a dividend of $0.375 per share. The ex-dividend date is Friday, September 13th. This represents a $1.50 annualized dividend and a yield of 1.38%. This is a positive change from NXP Semiconductors’s previous quarterly dividend of $0.25. NXP Semiconductors’s dividend payout ratio (DPR) is currently 25.25%.
NXPI has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of NXP Semiconductors from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th. Evercore ISI upgraded shares of NXP Semiconductors from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $110.00 to $125.00 in a report on Monday, July 29th. Raymond James started coverage on shares of NXP Semiconductors in a report on Monday, August 19th. They set an “outperform” rating and a $115.00 target price for the company. Morgan Stanley increased their price target on shares of NXP Semiconductors from $114.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, BidaskClub upgraded shares of NXP Semiconductors from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. NXP Semiconductors currently has a consensus rating of “Buy” and a consensus price target of $105.40.
About NXP Semiconductors
NXP Semiconductors N.V., a semiconductor company, provides high performance mixed signal solutions for radio frequency (RF), analog, power management, interface, security, and digital processing products worldwide. The company offers products for audio and visual head-end unit applications, such as single-chip radio solutions, multi-standard radios, audio amplifiers and power analog products, and i.MX applications processors; in-vehicle networking products; two-way secure entry products; various sensors and microcontrollers; power management solutions; battery cell controllers; and solutions for radar, vision, vehicle-to-vehicle, and vehicle-to-infrastructure systems.
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