Assenagon Asset Management S.A. Has $8.21 Million Holdings in NXP Semiconductors (NASDAQ:NXPI)

Assenagon Asset Management S.A. trimmed its position in shares of NXP Semiconductors (NASDAQ:NXPI) by 92.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,199 shares of the semiconductor provider’s stock after selling 511,990 shares during the quarter. Assenagon Asset Management S.A.’s holdings in NXP Semiconductors were worth $8,210,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In other news, COO Andrew Micallef sold 1,000 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $204.86, for a total transaction of $204,860.00. Following the completion of the sale, the chief operating officer now 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 document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NXPI shares. TD Cowen lifted their price objective on shares of NXP Semiconductors from $185.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Evercore ISI lifted their price objective on shares of NXP Semiconductors from $237.00 to $289.00 and gave the stock an “outperform” rating in a research note on Thursday. UBS Group dropped their target price on shares of NXP Semiconductors from $265.00 to $250.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Citigroup lowered their price objective on shares of NXP Semiconductors from $290.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Finally, Barclays cut their target price on shares of NXP Semiconductors from $230.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $244.78.

NXP Semiconductors Trading Down 3.0%

NXPI stock opened at $210.90 on Friday. The company has a market capitalization of $53.28 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 3.01 and a beta of 1.39. NXP Semiconductors has a one year low of $148.09 and a one year high of $296.08. The company’s 50 day moving average price is $192.58 and its two-hundred day moving average price is $205.18. 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 (NASDAQ:NXPI) last issued its earnings results on Monday, April 28th. The semiconductor provider reported $2.64 EPS for the quarter, topping the consensus estimate of $2.59 by $0.05. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.83 billion. NXP Semiconductors had a net margin of 19.90% and a return on equity of 31.45%. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.24 earnings per share. As a group, analysts predict that NXP Semiconductors will post 10.28 earnings per share for the current fiscal year.

NXP Semiconductors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 25th will be given a $1.014 dividend. This represents a $4.06 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Wednesday, June 25th. NXP Semiconductors’s dividend payout ratio (DPR) is 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.