Platinum Investment Management Ltd. lessened its stake in shares of NXP Semiconductors (NASDAQ:NXPI – Free Report) by 0.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 323,527 shares of the semiconductor provider’s stock after selling 641 shares during the period. NXP Semiconductors makes up approximately 2.3% of Platinum Investment Management Ltd.’s portfolio, making the stock its 14th biggest position. Platinum Investment Management Ltd.’s holdings in NXP Semiconductors were worth $66,220,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of NXPI. Live Oak Investment Partners bought a new stake in shares of NXP Semiconductors in the fourth quarter worth $26,000. Fortis Capital Advisors LLC bought a new stake in shares of NXP Semiconductors in the fourth quarter worth $27,000. Marquette Asset Management LLC bought a new stake in shares of NXP Semiconductors in the second quarter worth $29,000. Mizuho Securities Co. Ltd. bought a new stake in shares of NXP Semiconductors in the second quarter worth $29,000. Finally, Smithfield Trust Co bought a new stake in shares of NXP Semiconductors in the first quarter worth $42,000. Institutional investors own 90.21% of the company’s stock.
In other news, EVP Jennifer Wuamett sold 11,394 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $199.80, for a total transaction of $2,276,521.20. Following the completion of the transaction, the executive vice president now directly owns 27,569 shares of the company’s stock, valued at approximately $5,508,286.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.13% of the company’s stock.
NXP Semiconductors Stock Performance
NXP Semiconductors Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Wednesday, December 13th will be given a dividend of $1.014 per share. This represents a $4.06 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Tuesday, December 12th. NXP Semiconductors’s dividend payout ratio is currently 37.63%.
Wall Street Analysts Forecast Growth
NXPI has been the topic of a number of research analyst reports. Needham & Company LLC cut their price target on shares of NXP Semiconductors from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th. Sanford C. Bernstein upped their price target on shares of NXP Semiconductors from $175.00 to $210.00 in a research report on Wednesday, July 26th. Susquehanna cut their price target on shares of NXP Semiconductors from $200.00 to $190.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 24th. Mizuho cut their price target on shares of NXP Semiconductors from $225.00 to $210.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 8th. Finally, Evercore ISI dropped their price objective on shares of NXP Semiconductors from $240.00 to $235.00 in a report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $223.88.
About NXP Semiconductors
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.
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