Sterling Capital Management LLC Sells 2,803 Shares of NXP Semiconductors N.V. $NXPI

Sterling Capital Management LLC reduced its position in NXP Semiconductors N.V. (NASDAQ:NXPI) by 3.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 78,502 shares of the semiconductor provider’s stock after selling 2,803 shares during the period. Sterling Capital Management LLC’s holdings in NXP Semiconductors were worth $15,454,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NXPI. Vanguard Group Inc. raised its stake in shares of NXP Semiconductors by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 13,612,546 shares of the semiconductor provider’s stock worth $2,954,739,000 after purchasing an additional 293,558 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of NXP Semiconductors by 11.9% during the third quarter. Wellington Management Group LLP now owns 12,583,718 shares of the semiconductor provider’s stock valued at $2,865,690,000 after buying an additional 1,333,920 shares during the last quarter. State Street Corp boosted its position in shares of NXP Semiconductors by 0.5% during the fourth quarter. State Street Corp now owns 11,043,159 shares of the semiconductor provider’s stock valued at $2,407,382,000 after buying an additional 55,098 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in NXP Semiconductors by 1.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,849,741 shares of the semiconductor provider’s stock worth $1,703,865,000 after buying an additional 121,419 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in NXP Semiconductors by 17.2% in the 4th quarter. Invesco Ltd. now owns 5,574,672 shares of the semiconductor provider’s stock worth $1,210,038,000 after buying an additional 818,985 shares in the last quarter. 90.54% of the stock is owned by institutional investors.

NXP Semiconductors Trading Down 7.2%

NXP Semiconductors stock opened at $277.02 on Friday. NXP Semiconductors N.V. has a 52-week low of $183.00 and a 52-week high of $339.95. The company has a market cap of $69.94 billion, a P/E ratio of 26.51, a P/E/G ratio of 1.08 and a beta of 1.77. The company has a quick ratio of 1.55, a current ratio of 2.24 and a debt-to-equity ratio of 1.00. The business has a 50-day simple moving average of $290.93 and a two-hundred day simple moving average of $245.06.

NXP Semiconductors (NASDAQ:NXPI) last issued its quarterly earnings data on Wednesday, April 29th. The semiconductor provider reported $3.05 earnings per share for the quarter, topping the consensus estimate of $2.98 by $0.07. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.14 billion. NXP Semiconductors had a net margin of 21.03% and a return on equity of 26.75%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.64 EPS. Analysts predict that NXP Semiconductors N.V. will post 13.4 EPS for the current year.

NXP Semiconductors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 24th will be issued a dividend of $1.014 per share. This represents a $4.06 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, June 24th. NXP Semiconductors’s dividend payout ratio is currently 38.85%.

Wall Street Analysts Forecast Growth

NXPI has been the topic of several research analyst reports. Sanford C. Bernstein upped their target price on shares of NXP Semiconductors from $240.00 to $270.00 and gave the company a “market perform” rating in a research note on Wednesday, April 29th. TD Cowen lifted their price target on shares of NXP Semiconductors from $250.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Barclays boosted their price objective on shares of NXP Semiconductors from $295.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Citigroup raised their target price on shares of NXP Semiconductors from $270.00 to $370.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Truist Financial lifted their target price on shares of NXP Semiconductors from $255.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $300.08.

Insiders Place Their Bets

In other news, EVP Christopher L. Jensen sold 4,576 shares of NXP Semiconductors stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $234.03, for a total transaction of $1,070,921.28. Following the transaction, the executive vice president owned 5,389 shares in the company, valued at $1,261,187.67. This trade represents a 45.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Hardy sold 5,289 shares of NXP Semiconductors stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $235.00, for a total transaction of $1,242,915.00. Following the transaction, the executive vice president owned 2,020 shares in the company, valued at $474,700. This represents a 72.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 12,611 shares of company stock worth $3,182,068. Company insiders own 0.05% of the company’s stock.

NXP Semiconductors Company Profile

NXP Semiconductors N.V. is a global semiconductor company headquartered in Eindhoven, the Netherlands, that designs and supplies mixed-signal and standard product solutions for a broad range of end markets. The company focuses on enabling secure connections and infrastructure for embedded applications, developing technologies used across automotive, industrial and Internet of Things (IoT), mobile, and communication infrastructure segments. NXP’s offerings target customers that require reliable, secure, and high-performance semiconductor components for connected devices and systems.

Product lines include microcontrollers and application processors, secure elements and authentication technologies, RF and high-power analog components, connectivity solutions, and vehicle networking and infotainment systems.