Skandinaviska Enskilda Banken AB publ Cuts Stock Position in NXP Semiconductors N.V. $NXPI

Skandinaviska Enskilda Banken AB publ cut its position in NXP Semiconductors N.V. (NASDAQ:NXPI) by 0.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,022 shares of the semiconductor provider’s stock after selling 304 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in NXP Semiconductors were worth $11,803,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Brown Lisle Cummings Inc. grew its position in shares of NXP Semiconductors by 121.7% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 153 shares of the semiconductor provider’s stock worth $33,000 after buying an additional 84 shares during the last quarter. Hemington Wealth Management lifted its position in NXP Semiconductors by 50.0% during the first quarter. Hemington Wealth Management now owns 177 shares of the semiconductor provider’s stock valued at $33,000 after acquiring an additional 59 shares during the last quarter. True Wealth Design LLC boosted its stake in NXP Semiconductors by 375.6% in the second quarter. True Wealth Design LLC now owns 195 shares of the semiconductor provider’s stock valued at $43,000 after acquiring an additional 154 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in NXP Semiconductors in the second quarter worth $43,000. Finally, Hilltop National Bank purchased a new position in NXP Semiconductors in the second quarter worth $44,000. 90.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NXPI. JPMorgan Chase & Co. increased their price objective on NXP Semiconductors from $240.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Evercore ISI upped their target price on NXP Semiconductors from $289.00 to $292.00 in a research report on Wednesday, October 29th. Truist Financial raised their price target on NXP Semiconductors from $252.00 to $254.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Sanford C. Bernstein set a $220.00 price target on NXP Semiconductors and gave the stock a “market perform” rating in a research note on Wednesday, October 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $280.00 price objective on shares of NXP Semiconductors in a report on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $252.47.

NXP Semiconductors Stock Performance

Shares of NXPI opened at $194.35 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.20 and a current ratio of 2.37. The stock has a 50-day moving average of $211.24 and a two-hundred day moving average of $216.19. The stock has a market cap of $48.91 billion, a P/E ratio of 24.05, a P/E/G ratio of 2.53 and a beta of 1.47. NXP Semiconductors N.V. has a one year low of $148.09 and a one year high of $255.45.

NXP Semiconductors (NASDAQ:NXPI) last announced its quarterly earnings data on Tuesday, October 28th. The semiconductor provider reported $3.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.12 by ($0.01). NXP Semiconductors had a return on equity of 26.92% and a net margin of 17.11%.The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the business earned $3.45 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, research analysts predict that NXP Semiconductors N.V. will post 10.28 EPS for the current year.

NXP Semiconductors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 7th. Shareholders of record on Wednesday, December 10th will be paid a dividend of $1.014 per share. This represents a $4.06 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, December 10th. NXP Semiconductors’s payout ratio is presently 50.12%.

Insider Activity at NXP Semiconductors

In related news, EVP Jennifer Wuamett sold 8,372 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $207.01, for a total transaction of $1,733,087.72. Following the completion of the transaction, the executive vice president directly owned 19,175 shares in the company, valued at $3,969,416.75. The trade was a 30.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Andrew Micallef sold 1,000 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $216.21, for a total transaction of $216,210.00. Following the completion of the sale, the executive vice president directly owned 6,828 shares in the company, valued at approximately $1,476,281.88. The trade was a 12.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.12% of the company’s stock.

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.