NXP Semiconductors (NASDAQ:NXPI) Shares Sold by Patton Fund Management Inc.

Patton Fund Management Inc. trimmed its stake in NXP Semiconductors (NASDAQ:NXPI) by 6.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,679 shares of the semiconductor provider’s stock after selling 1,262 shares during the quarter. Patton Fund Management Inc.’s holdings in NXP Semiconductors were worth $4,243,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in NXP Semiconductors by 17.3% in the 1st quarter. Vanguard Group Inc. now owns 12,921,432 shares of the semiconductor provider’s stock valued at $3,201,543,000 after purchasing an additional 1,909,898 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of NXP Semiconductors by 5.1% during the second quarter. Ameriprise Financial Inc. now owns 2,428,779 shares of the semiconductor provider’s stock worth $653,567,000 after buying an additional 118,366 shares in the last quarter. Legal & General Group Plc raised its position in shares of NXP Semiconductors by 1.6% in the second quarter. Legal & General Group Plc now owns 2,271,866 shares of the semiconductor provider’s stock valued at $611,336,000 after buying an additional 35,104 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of NXP Semiconductors by 10.6% during the second quarter. Van ECK Associates Corp now owns 1,818,393 shares of the semiconductor provider’s stock valued at $489,312,000 after buying an additional 173,697 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in NXP Semiconductors by 5.5% during the second quarter. Bank of New York Mellon Corp now owns 1,533,421 shares of the semiconductor provider’s stock worth $412,628,000 after acquiring an additional 80,087 shares during the last quarter. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Oppenheimer boosted their price target on NXP Semiconductors from $295.00 to $330.00 and gave the company an “outperform” rating in a report on Friday, July 12th. Barclays upped their target price on NXP Semiconductors from $280.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Truist Financial decreased their price target on NXP Semiconductors from $291.00 to $287.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Citigroup upped their price objective on shares of NXP Semiconductors from $150.00 to $220.00 and gave the company a “sell” rating in a research note on Monday, July 15th. Finally, Needham & Company LLC raised their target price on shares of NXP Semiconductors from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $290.65.

NXP Semiconductors Stock Up 1.8 %

Shares of NASDAQ NXPI traded up $4.28 on Thursday, hitting $237.01. The company had a trading volume of 350,397 shares, compared to its average volume of 2,257,627. The company has a quick ratio of 1.52, a current ratio of 2.21 and a debt-to-equity ratio of 1.04. NXP Semiconductors has a 12-month low of $167.21 and a 12-month high of $296.08. The firm has a market capitalization of $60.60 billion, a P/E ratio of 21.83, a PEG ratio of 2.58 and a beta of 1.49. The business has a 50 day moving average of $239.99 and a two-hundred day moving average of $253.09.

NXP Semiconductors (NASDAQ:NXPI) last released its quarterly earnings results on Monday, July 22nd. The semiconductor provider reported $3.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.38. The firm had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.13 billion. NXP Semiconductors had a return on equity of 35.65% and a net margin of 21.21%. NXP Semiconductors’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.04 EPS. As a group, equities research analysts forecast that NXP Semiconductors will post 11.97 earnings per share for the current fiscal year.

NXP Semiconductors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Thursday, September 12th were paid a dividend of $1.014 per share. This represents a $4.06 annualized dividend and a yield of 1.71%. The ex-dividend date was Thursday, September 12th. NXP Semiconductors’s dividend payout ratio (DPR) is 37.40%.

Insiders Place Their Bets

In other news, EVP Jennifer Wuamett sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was 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 directly owns 30,269 shares in the company, valued at $7,033,002.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Julie Southern purchased 146 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were purchased at an average cost of $257.54 per share, with a total value of $37,600.84. Following the completion of the acquisition, the insider now directly owns 11,297 shares of the company’s stock, valued at approximately $2,909,429.38. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jennifer Wuamett sold 3,500 shares of the 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 transaction, the executive vice president now owns 30,269 shares in the company, valued at $7,033,002.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.

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.