Clearbridge Investments LLC Sells 3,055 Shares of NXP Semiconductors (NASDAQ:NXPI)

Clearbridge Investments LLC decreased its stake in NXP Semiconductors (NASDAQ:NXPI) by 12.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,971 shares of the semiconductor provider’s stock after selling 3,055 shares during the period. Clearbridge Investments LLC’s holdings in NXP Semiconductors were worth $5,444,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC bought a new stake in shares of NXP Semiconductors in the first quarter valued at approximately $25,000. FinTrust Capital Advisors LLC raised its position in shares of NXP Semiconductors by 75.4% in the fourth quarter. FinTrust Capital Advisors LLC now owns 114 shares of the semiconductor provider’s stock valued at $26,000 after purchasing an additional 49 shares during the period. LifeSteps Financial Inc. bought a new stake in shares of NXP Semiconductors in the first quarter valued at approximately $30,000. Valley National Advisers Inc. raised its position in shares of NXP Semiconductors by 98.6% in the fourth quarter. Valley National Advisers Inc. now owns 137 shares of the semiconductor provider’s stock valued at $31,000 after purchasing an additional 68 shares during the period. Finally, ICA Group Wealth Management LLC bought a new stake in shares of NXP Semiconductors in the fourth quarter valued at approximately $33,000. Institutional investors own 90.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NXPI shares. Stifel Nicolaus boosted their price target on shares of NXP Semiconductors from $240.00 to $275.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Jefferies Financial Group assumed coverage on shares of NXP Semiconductors in a report on Monday, May 13th. They set a “buy” rating and a $325.00 target price on the stock. Oppenheimer upped their target price on shares of NXP Semiconductors from $295.00 to $330.00 and gave the stock an “outperform” rating in a report on Friday, July 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $350.00 target price on shares of NXP Semiconductors in a report on Tuesday. Finally, Evercore ISI upped their target price on shares of NXP Semiconductors from $300.00 to $370.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, NXP Semiconductors presently has a consensus rating of “Moderate Buy” and an average target price of $283.46.

NXP Semiconductors Price Performance

Shares of NASDAQ:NXPI traded down $5.20 during trading on Thursday, reaching $249.20. The company had a trading volume of 302,223 shares, compared to its average volume of 2,198,296. NXP Semiconductors has a 12 month low of $167.21 and a 12 month high of $296.08. The stock has a market capitalization of $63.72 billion, a P/E ratio of 23.49, a price-to-earnings-growth ratio of 2.45 and a beta of 1.49. The company has a fifty day moving average of $273.19 and a two-hundred day moving average of $249.40. The company has a current ratio of 2.35, a quick ratio of 1.64 and a debt-to-equity ratio of 1.11.

NXP Semiconductors (NASDAQ:NXPI) last announced its quarterly earnings data on Monday, July 22nd. The semiconductor provider reported $3.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.38. NXP Semiconductors had a net margin of 21.21% and a return on equity of 36.13%. The company had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the prior year, the company earned $3.04 EPS. The firm’s revenue was down 5.2% on a year-over-year basis. Equities research analysts forecast that NXP Semiconductors will post 12.47 earnings per share for the current year.

NXP Semiconductors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Thursday, June 13th were paid a $1.014 dividend. The ex-dividend date was Thursday, June 13th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.63%. NXP Semiconductors’s dividend payout ratio (DPR) is 37.49%.

Insider Activity

In other news, CEO Kurt Sievers sold 8,548 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $275.75, for a total value of $2,357,111.00. Following the completion of the sale, the chief executive officer now owns 177,889 shares of the company’s stock, valued at approximately $49,052,891.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by corporate insiders.

NXP Semiconductors 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.