Palouse Capital Management Inc. Decreases Holdings in NXP Semiconductors (NASDAQ:NXPI)

Palouse Capital Management Inc. trimmed its position in shares of NXP Semiconductors (NASDAQ:NXPI) by 2.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 8,555 shares of the semiconductor provider’s stock after selling 249 shares during the quarter. Palouse Capital Management Inc.’s holdings in NXP Semiconductors were worth $1,626,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Runnymede Capital Advisors Inc. purchased a new position in shares of NXP Semiconductors during the 4th quarter valued at about $32,000. Smithfield Trust Co purchased a new position in NXP Semiconductors in the 4th quarter worth approximately $32,000. Ameriflex Group Inc. purchased a new position in NXP Semiconductors in the 4th quarter worth approximately $44,000. GoalVest Advisory LLC increased its stake in NXP Semiconductors by 472.9% in the 1st quarter. GoalVest Advisory LLC now owns 275 shares of the semiconductor provider’s stock worth $52,000 after purchasing an additional 227 shares during the period. Finally, Manchester Capital Management LLC increased its stake in NXP Semiconductors by 25.5% in the 4th quarter. Manchester Capital Management LLC now owns 389 shares of the semiconductor provider’s stock worth $81,000 after purchasing an additional 79 shares during the period. 90.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NXPI has been the topic of a number of analyst reports. Citigroup decreased their price target on NXP Semiconductors from $290.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Evercore ISI lifted their price target on NXP Semiconductors from $237.00 to $289.00 and gave the stock an “outperform” rating in a research note on Thursday. Stifel Nicolaus decreased their price target on NXP Semiconductors from $210.00 to $170.00 and set a “hold” rating on the stock in a research note on Thursday, April 17th. Truist Financial lifted their price target on NXP Semiconductors from $245.00 to $258.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Finally, Arete Research raised NXP Semiconductors to a “strong-buy” rating in a research note on Tuesday, March 25th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, NXP Semiconductors currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.78.

Insider Activity at NXP Semiconductors

In related news, COO Andrew Micallef sold 1,000 shares of NXP Semiconductors stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $204.86, for a total transaction of $204,860.00. Following the sale, the chief operating officer now directly owns 8,828 shares in the company, valued at $1,808,504.08. The trade was a 10.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.12% of the stock is currently owned by corporate insiders.

NXP Semiconductors Trading Down 3.0%

NASDAQ NXPI opened at $210.90 on Friday. The company has a quick ratio of 1.60, a current ratio of 2.36 and a debt-to-equity ratio of 1.09. NXP Semiconductors has a twelve month low of $148.09 and a twelve month high of $296.08. The firm has a market capitalization of $53.28 billion, a PE ratio of 21.68, a P/E/G ratio of 3.01 and a beta of 1.39. The stock’s 50 day moving average is $192.58 and its 200 day moving average is $205.33.

NXP Semiconductors (NASDAQ:NXPI) last released its quarterly earnings results on Monday, April 28th. The semiconductor provider reported $2.64 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.05. NXP Semiconductors had a return on equity of 31.45% and a net margin of 19.90%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same period in the previous year, the company posted $3.24 earnings per share. The firm’s revenue was down 9.3% on a year-over-year basis. Research analysts forecast that NXP Semiconductors will post 10.28 earnings per share for the current fiscal year.

NXP Semiconductors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 25th will be given a dividend of $1.014 per share. The ex-dividend date is Wednesday, June 25th. This represents a $4.06 annualized dividend and a dividend yield of 1.92%. NXP Semiconductors’s dividend payout ratio is presently 44.12%.

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.