Sound Shore Management Inc. CT Increases Position in NXP Semiconductors (NASDAQ:NXPI)

Sound Shore Management Inc. CT lifted its position in NXP Semiconductors (NASDAQ:NXPI) by 66.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 433,328 shares of the semiconductor provider’s stock after buying an additional 173,360 shares during the period. NXP Semiconductors comprises 3.0% of Sound Shore Management Inc. CT’s holdings, making the stock its 9th largest position. Sound Shore Management Inc. CT owned 0.17% of NXP Semiconductors worth $90,067,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. ORG Wealth Partners LLC grew its stake in NXP Semiconductors by 915.4% in the fourth quarter. ORG Wealth Partners LLC now owns 132 shares of the semiconductor provider’s stock valued at $27,000 after acquiring an additional 119 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of NXP Semiconductors by 169.2% during the 4th quarter. Sound Income Strategies LLC now owns 140 shares of the semiconductor provider’s stock valued at $29,000 after purchasing an additional 88 shares in the last quarter. Smithfield Trust Co acquired a new position in shares of NXP Semiconductors in the 4th quarter valued at approximately $32,000. Runnymede Capital Advisors Inc. bought a new stake in NXP Semiconductors during the 4th quarter worth approximately $32,000. Finally, FSA Wealth Management LLC acquired a new stake in NXP Semiconductors during the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 90.54% of the company’s stock.

Insider Transactions at NXP Semiconductors

In other NXP Semiconductors news, COO Andrew Micallef sold 1,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $204.86, for a total value of $204,860.00. Following the transaction, the chief operating officer now directly owns 8,828 shares of the company’s stock, valued at $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 available through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

NXP Semiconductors Stock Down 1.0 %

NXPI opened at $200.64 on Monday. The stock’s fifty day simple moving average is $215.46 and its 200 day simple moving average is $222.86. NXP Semiconductors has a 1-year low of $196.95 and a 1-year high of $296.08. The stock has a market cap of $50.89 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 3.01 and a beta of 1.47. The company has a current ratio of 2.36, a quick ratio of 1.60 and a debt-to-equity ratio of 1.09.

NXP Semiconductors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 19th will be paid a dividend of $1.014 per share. This represents a $4.06 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Wednesday, March 19th. NXP Semiconductors’s dividend payout ratio is presently 41.62%.

Analyst Upgrades and Downgrades

NXPI has been the topic of several research reports. Barclays cut their price objective on shares of NXP Semiconductors from $280.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Mizuho upped their price objective on NXP Semiconductors from $240.00 to $255.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Morgan Stanley upgraded NXP Semiconductors from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $231.00 to $257.00 in a report on Wednesday, February 12th. The Goldman Sachs Group reissued a “buy” rating on shares of NXP Semiconductors in a research report on Tuesday, February 4th. Finally, Truist Financial upped their price target on NXP Semiconductors from $245.00 to $258.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NXP Semiconductors currently has an average rating of “Moderate Buy” and a consensus price target of $267.00.

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.