Platinum Investment Management Ltd. Sells 641 Shares of NXP Semiconductors (NASDAQ:NXPI)

Platinum Investment Management Ltd. lessened its stake in shares of NXP Semiconductors (NASDAQ:NXPI) 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.

Insider Activity

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

Shares of NXP Semiconductors stock traded down $3.83 on Tuesday, reaching $199.51. 709,291 shares of the company traded hands, compared to its average volume of 2,164,126. NXP Semiconductors has a 52 week low of $150.90 and a 52 week high of $225.57. The company has a 50 day moving average of $192.13 and a 200 day moving average of $195.56. The firm has a market capitalization of $51.43 billion, a PE ratio of 18.85, a PEG ratio of 0.96 and a beta of 1.56. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.92 and a quick ratio of 1.38.

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.