NXP Semiconductors (NASDAQ:NXPI) Stock Position Trimmed by Truist Financial Corp

Truist Financial Corp trimmed its stake in shares of NXP Semiconductors (NASDAQ:NXPI) by 16.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 334,732 shares of the semiconductor provider’s stock after selling 66,654 shares during the period. Truist Financial Corp’s holdings in NXP Semiconductors were worth $76,881,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Operose Advisors LLC bought a new stake in shares of NXP Semiconductors during the 3rd quarter worth about $26,000. BluePath Capital Management LLC acquired a new position in shares of NXP Semiconductors in the 3rd quarter worth approximately $28,000. Valley National Advisers Inc. grew its stake in shares of NXP Semiconductors by 98.6% in the 4th quarter. Valley National Advisers Inc. now owns 137 shares of the semiconductor provider’s stock worth $31,000 after purchasing an additional 68 shares during the last quarter. Paradigm Asset Management Co. LLC grew its stake in shares of NXP Semiconductors by 100.0% in the 3rd quarter. Paradigm Asset Management Co. LLC now owns 200 shares of the semiconductor provider’s stock worth $40,000 after purchasing an additional 100 shares during the last quarter. Finally, Atticus Wealth Management LLC grew its stake in shares of NXP Semiconductors by 358.7% in the 3rd quarter. Atticus Wealth Management LLC now owns 211 shares of the semiconductor provider’s stock worth $42,000 after purchasing an additional 165 shares during the last quarter. 90.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NXPI shares. Barclays raised shares of NXP Semiconductors from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $200.00 to $260.00 in a research note on Tuesday, January 16th. Wolfe Research raised shares of NXP Semiconductors from a “peer perform” rating to an “outperform” rating and set a $255.00 target price for the company in a research report on Thursday, January 18th. Evercore ISI initiated coverage on shares of NXP Semiconductors in a report on Tuesday, April 16th. They set an “outperform” rating and a $300.00 price objective for the company. Susquehanna increased their price target on shares of NXP Semiconductors from $200.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. Finally, Cantor Fitzgerald increased their price target on shares of NXP Semiconductors from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, NXP Semiconductors has an average rating of “Moderate Buy” and an average target price of $242.29.

NXP Semiconductors Price Performance

NASDAQ:NXPI traded up $4.62 during mid-day trading on Friday, reaching $242.70. 2,059,388 shares of the company were exchanged, compared to its average volume of 2,041,337. NXP Semiconductors has a 12 month low of $155.31 and a 12 month high of $264.26. The company has a fifty day moving average of $241.20 and a 200 day moving average of $219.73. The company has a quick ratio of 1.39, a current ratio of 1.91 and a debt-to-equity ratio of 1.14. The stock has a market cap of $62.16 billion, a PE ratio of 22.66, a PEG ratio of 0.90 and a beta of 1.59.

NXP Semiconductors (NASDAQ:NXPI) last issued its quarterly earnings data on Monday, February 5th. The semiconductor provider reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.33 by $0.04. NXP Semiconductors had a net margin of 21.07% and a return on equity of 38.94%. The firm had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.40 billion. On average, research analysts anticipate that NXP Semiconductors will post 12.28 EPS for the current fiscal year.

NXP Semiconductors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Thursday, March 21st were issued a dividend of $1.014 per share. This represents a $4.06 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend was Wednesday, March 20th. NXP Semiconductors’s dividend payout ratio is currently 37.91%.

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.