Short Interest in NXP Semiconductors (NASDAQ:NXPI) Declines By 16.5%

NXP Semiconductors (NASDAQ:NXPI) saw a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 8,570,000 shares, a drop of 16.5% from the February 28th total of 10,260,000 shares. Based on an average daily trading volume, of 2,810,000 shares, the short-interest ratio is currently 3.0 days. Currently, 3.4% of the shares of the company are short sold.

Insider Activity

In related news, COO Andrew Micallef sold 1,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $204.86, for a total value of $204,860.00. Following the sale, the chief operating officer now owns 8,828 shares in the company, valued at approximately $1,808,504.08. This represents a 10.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On NXP Semiconductors

Several hedge funds have recently modified their holdings of the company. Cullen Investment Group LTD. boosted its stake in shares of NXP Semiconductors by 6.2% during the first quarter. Cullen Investment Group LTD. now owns 10,445 shares of the semiconductor provider’s stock valued at $1,985,000 after purchasing an additional 610 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in NXP Semiconductors by 19.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 596 shares of the semiconductor provider’s stock worth $113,000 after buying an additional 99 shares during the period. 111 Capital bought a new stake in NXP Semiconductors during the 4th quarter worth approximately $818,000. Lansforsakringar Fondforvaltning AB publ acquired a new position in NXP Semiconductors in the 4th quarter valued at approximately $11,767,000. Finally, Old North State Trust LLC raised its stake in shares of NXP Semiconductors by 20.6% during the fourth quarter. Old North State Trust LLC now owns 1,531 shares of the semiconductor provider’s stock valued at $318,000 after acquiring an additional 262 shares during the last quarter. Institutional investors and hedge funds own 90.54% of the company’s stock.

NXP Semiconductors Price Performance

Shares of NXP Semiconductors stock traded up $3.67 during midday trading on Wednesday, hitting $193.67. 2,227,032 shares of the company traded hands, compared to its average volume of 2,433,534. The firm’s fifty day moving average price is $213.67 and its 200-day moving average price is $221.40. The stock has a market cap of $49.12 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 3.01 and a beta of 1.47. NXP Semiconductors has a 12 month low of $183.56 and a 12 month high of $296.08. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.60 and a current ratio of 2.36.

NXP Semiconductors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 19th will be issued a dividend of $1.014 per share. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $4.06 annualized dividend and a dividend yield of 2.09%. NXP Semiconductors’s dividend payout ratio (DPR) is presently 41.62%.

Wall Street Analyst Weigh In

NXPI has been the subject of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of NXP Semiconductors from $260.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of NXP Semiconductors in a research report on Tuesday, February 4th. Morgan Stanley raised NXP Semiconductors from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $231.00 to $257.00 in a report on Wednesday, February 12th. Citigroup raised NXP Semiconductors from a “neutral” rating to a “buy” rating and upped their price objective for the company from $210.00 to $290.00 in a report on Thursday, February 20th. Finally, Needham & Company LLC dropped their target price on NXP Semiconductors from $250.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, NXP Semiconductors currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.00.

NXP Semiconductors Company 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.