NXP Semiconductors (NASDAQ:NXPI) Shares Acquired by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. increased its stake in NXP Semiconductors (NASDAQ:NXPI) by 4.0% during the 3rd quarter, Holdings Channel reports. The fund owned 49,478 shares of the semiconductor provider’s stock after purchasing an additional 1,918 shares during the quarter. Pinnacle Associates Ltd.’s holdings in NXP Semiconductors were worth $11,364,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NXPI. Family Firm Inc. acquired a new stake in shares of NXP Semiconductors in the second quarter valued at $27,000. Addison Advisors LLC increased its holdings in NXP Semiconductors by 224.2% in the second quarter. Addison Advisors LLC now owns 107 shares of the semiconductor provider’s stock valued at $29,000 after buying an additional 74 shares during the last quarter. Valley National Advisers Inc. increased its holdings in NXP Semiconductors by 71.2% in the second quarter. Valley National Advisers Inc. now owns 125 shares of the semiconductor provider’s stock valued at $33,000 after buying an additional 52 shares during the last quarter. Beacon Capital Management LLC increased its holdings in NXP Semiconductors by 36.4% in the first quarter. Beacon Capital Management LLC now owns 150 shares of the semiconductor provider’s stock valued at $37,000 after buying an additional 40 shares during the last quarter. Finally, Fortitude Family Office LLC increased its holdings in NXP Semiconductors by 615.0% in the second quarter. Fortitude Family Office LLC now owns 143 shares of the semiconductor provider’s stock valued at $38,000 after buying an additional 123 shares during the last quarter. 90.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NXP Semiconductors

In related news, EVP Jennifer Wuamett sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $232.35, for a total value of $813,225.00. Following the completion of the sale, the executive vice president now owns 30,269 shares in the company, valued at $7,033,002.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is owned by insiders.

NXP Semiconductors Price Performance

Shares of NASDAQ:NXPI opened at $245.32 on Thursday. The company has a quick ratio of 1.52, a current ratio of 2.21 and a debt-to-equity ratio of 1.04. The company has a market cap of $62.49 billion, a P/E ratio of 22.93, a PEG ratio of 2.63 and a beta of 1.49. NXP Semiconductors has a 52 week low of $167.50 and a 52 week high of $296.08. The company has a 50-day moving average price of $238.05 and a 200 day moving average price of $252.88.

NXP Semiconductors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Thursday, September 12th were given a $1.014 dividend. The ex-dividend date was Thursday, September 12th. This represents a $4.06 dividend on an annualized basis and a yield of 1.65%. NXP Semiconductors’s payout ratio is currently 37.94%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NXPI shares. Citic Securities started coverage on NXP Semiconductors in a report on Friday, October 11th. They issued a $288.00 target price on the stock. Cantor Fitzgerald dropped their target price on NXP Semiconductors from $350.00 to $270.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Barclays increased their target price on NXP Semiconductors from $280.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. The Goldman Sachs Group dropped their price objective on NXP Semiconductors from $285.00 to $277.00 in a report on Friday, October 11th. Finally, Oppenheimer raised their price objective on NXP Semiconductors from $295.00 to $330.00 and gave the stock an “outperform” rating in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $288.90.

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.