Clearbridge Investments LLC Sells 1,290,385 Shares of NXP Semiconductors (NASDAQ:NXPI)

Clearbridge Investments LLC lessened its stake in NXP Semiconductors (NASDAQ:NXPIGet Rating) by 97.6% in the second quarter, HoldingsChannel reports. The fund owned 32,106 shares of the semiconductor provider’s stock after selling 1,290,385 shares during the period. Clearbridge Investments LLC’s holdings in NXP Semiconductors were worth $4,753,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NXPI. Gamco Investors INC. ET AL grew its position in shares of NXP Semiconductors by 0.5% during the first quarter. Gamco Investors INC. ET AL now owns 12,120 shares of the semiconductor provider’s stock valued at $2,243,000 after purchasing an additional 60 shares in the last quarter. MV Capital Management Inc. grew its position in NXP Semiconductors by 37.3% in the second quarter. MV Capital Management Inc. now owns 232 shares of the semiconductor provider’s stock worth $34,000 after acquiring an additional 63 shares in the last quarter. Perigon Wealth Management LLC grew its position in NXP Semiconductors by 2.9% in the second quarter. Perigon Wealth Management LLC now owns 2,494 shares of the semiconductor provider’s stock worth $369,000 after acquiring an additional 71 shares in the last quarter. Cardinal Capital Management grew its position in NXP Semiconductors by 0.8% in the second quarter. Cardinal Capital Management now owns 9,102 shares of the semiconductor provider’s stock worth $1,347,000 after acquiring an additional 74 shares in the last quarter. Finally, Redmond Asset Management LLC grew its position in NXP Semiconductors by 0.4% in the second quarter. Redmond Asset Management LLC now owns 18,180 shares of the semiconductor provider’s stock worth $2,691,000 after acquiring an additional 74 shares in the last quarter. Institutional investors own 88.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Susquehanna Bancshares dropped their price target on NXP Semiconductors from $200.00 to $175.00 in a research report on Wednesday, November 2nd. KeyCorp decreased their price objective on shares of NXP Semiconductors from $260.00 to $225.00 and set an “overweight” rating for the company in a research note on Wednesday, November 2nd. Citigroup decreased their price objective on shares of NXP Semiconductors from $190.00 to $150.00 and set a “neutral” rating for the company in a research note on Tuesday, October 11th. StockNews.com began coverage on shares of NXP Semiconductors in a research note on Wednesday, October 12th. They set a “buy” rating for the company. Finally, KGI Securities downgraded shares of NXP Semiconductors from an “outperform” rating to a “neutral” rating in a research note on Tuesday, October 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $186.25.

NXP Semiconductors Price Performance

NASDAQ NXPI opened at $175.20 on Friday. The firm’s fifty day simple moving average is $154.74 and its two-hundred day simple moving average is $165.48. The company has a current ratio of 2.08, a quick ratio of 1.59 and a debt-to-equity ratio of 1.51. NXP Semiconductors has a 12-month low of $132.08 and a 12-month high of $239.91. The firm has a market capitalization of $45.40 billion, a P/E ratio of 17.45, a P/E/G ratio of 0.62 and a beta of 1.42.

NXP Semiconductors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Investors of record on Thursday, December 15th will be given a dividend of $0.845 per share. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $3.38 dividend on an annualized basis and a yield of 1.93%. NXP Semiconductors’s dividend payout ratio is presently 33.67%.

NXP Semiconductors Profile

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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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Institutional Ownership by Quarter for NXP Semiconductors (NASDAQ:NXPI)

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