NXP Semiconductors (NASDAQ:NXPI) Sees Large Decrease in Short Interest

NXP Semiconductors (NASDAQ:NXPI) was the target of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 4,810,000 shares, a drop of 21.9% from the March 31st total of 6,160,000 shares. Based on an average daily trading volume, of 4,090,000 shares, the days-to-cover ratio is presently 1.2 days. Approximately 1.8% of the company’s shares are short sold.

Several brokerages have weighed in on NXPI. Raymond James lifted their price objective on shares of NXP Semiconductors from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Tuesday. Jefferies Financial Group upped their price target on shares of NXP Semiconductors from $208.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday. Oppenheimer increased their price target on shares of NXP Semiconductors from $210.00 to $235.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 28th. Credit Suisse Group increased their price target on shares of NXP Semiconductors from $215.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, March 29th. Finally, Wells Fargo & Company increased their price target on shares of NXP Semiconductors from $210.00 to $235.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $203.32.

Shares of NASDAQ NXPI traded down $0.75 during mid-day trading on Tuesday, reaching $191.09. 4,236,431 shares of the company’s stock traded hands, compared to its average volume of 3,781,097. The stock has a market cap of $52.69 billion, a P/E ratio of -360.55, a PEG ratio of 2.62 and a beta of 1.50. The business has a 50-day simple moving average of $201.26 and a 200 day simple moving average of $173.16. NXP Semiconductors has a 1-year low of $89.10 and a 1-year high of $216.43. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.64 and a quick ratio of 1.33.

NXP Semiconductors (NASDAQ:NXPI) last issued its quarterly earnings data on Sunday, April 25th. The semiconductor provider reported $2.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.01). The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.56 billion. NXP Semiconductors had a negative net margin of 1.70% and a positive return on equity of 17.16%. The firm’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.08) earnings per share. Equities research analysts anticipate that NXP Semiconductors will post 4.69 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 5th. Shareholders of record on Monday, March 15th were given a $0.563 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 1.18%. This is an increase from NXP Semiconductors’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, March 12th. NXP Semiconductors’s dividend payout ratio is presently 27.99%.

In other news, EVP Christopher L. Jensen sold 1,900 shares of NXP Semiconductors stock in a transaction dated Friday, February 5th. The shares were sold at an average price of $183.03, for a total value of $347,757.00. Following the completion of the transaction, the executive vice president now owns 1,211 shares of the company’s stock, valued at approximately $221,649.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kurt Sievers sold 35,886 shares of NXP Semiconductors stock in a transaction dated Thursday, February 11th. The shares were sold at an average price of $192.56, for a total transaction of $6,910,208.16. Following the completion of the transaction, the chief executive officer now directly owns 59,422 shares of the company’s stock, valued at approximately $11,442,300.32. The disclosure for this sale can be found here. Insiders have sold a total of 87,241 shares of company stock worth $17,264,884 in the last ninety days. 0.56% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Artisan Partners Limited Partnership increased its position in shares of NXP Semiconductors by 9.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 9,275,771 shares of the semiconductor provider’s stock valued at $1,474,940,000 after acquiring an additional 765,752 shares during the last quarter. Alliancebernstein L.P. increased its position in NXP Semiconductors by 7.9% in the fourth quarter. Alliancebernstein L.P. now owns 4,367,303 shares of the semiconductor provider’s stock worth $694,445,000 after buying an additional 318,250 shares during the last quarter. FIL Ltd increased its position in NXP Semiconductors by 18.0% in the fourth quarter. FIL Ltd now owns 4,267,330 shares of the semiconductor provider’s stock worth $678,548,000 after buying an additional 651,130 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of NXP Semiconductors by 12.1% in the fourth quarter. Clearbridge Investments LLC now owns 3,738,264 shares of the semiconductor provider’s stock worth $594,421,000 after acquiring an additional 402,863 shares during the period. Finally, Brown Advisory Inc. boosted its holdings in shares of NXP Semiconductors by 3.6% in the fourth quarter. Brown Advisory Inc. now owns 3,441,496 shares of the semiconductor provider’s stock worth $547,233,000 after acquiring an additional 120,815 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

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 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.

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