NXP Semiconductors N.V. $NXPI Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in shares of NXP Semiconductors N.V. (NASDAQ:NXPI) by 2.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 1,195,354 shares of the semiconductor provider’s stock after selling 25,849 shares during the quarter. Bank of New York Mellon Corp’s holdings in NXP Semiconductors were worth $235,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in NXPI. Camden National Bank raised its stake in NXP Semiconductors by 11.1% in the 1st quarter. Camden National Bank now owns 1,646 shares of the semiconductor provider’s stock worth $324,000 after acquiring an additional 165 shares during the last quarter. Checchi Capital Advisers LLC grew its stake in NXP Semiconductors by 18.2% during the 1st quarter. Checchi Capital Advisers LLC now owns 1,935 shares of the semiconductor provider’s stock valued at $381,000 after purchasing an additional 298 shares during the last quarter. Hartford Funds Management Co LLC grew its stake in NXP Semiconductors by 30.3% during the 1st quarter. Hartford Funds Management Co LLC now owns 9,605 shares of the semiconductor provider’s stock valued at $1,892,000 after purchasing an additional 2,232 shares during the last quarter. Calamos Advisors LLC increased its holdings in shares of NXP Semiconductors by 1.3% in the first quarter. Calamos Advisors LLC now owns 93,315 shares of the semiconductor provider’s stock valued at $18,370,000 after purchasing an additional 1,229 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of NXP Semiconductors in the first quarter valued at about $336,000. 90.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NXPI shares. BNP Paribas Exane raised their price objective on NXP Semiconductors from $270.00 to $310.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Wall Street Zen upgraded shares of NXP Semiconductors from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Loop Capital raised their price target on shares of NXP Semiconductors from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Wolfe Research lifted their price objective on shares of NXP Semiconductors from $270.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Finally, TD Cowen lifted their price objective on shares of NXP Semiconductors from $310.00 to $340.00 and gave the company a “buy” rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, NXP Semiconductors currently has an average rating of “Moderate Buy” and an average price target of $307.27.

Insider Transactions at NXP Semiconductors

In related news, EVP Andrew Hardy sold 5,289 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $235.00, for a total value of $1,242,915.00. Following the completion of the transaction, the executive vice president directly owned 2,020 shares in the company, valued at $474,700. The trade was a 72.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Micallef sold 1,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $315.57, for a total transaction of $315,570.00. Following the sale, the executive vice president directly owned 8,942 shares in the company, valued at $2,821,826.94. This trade represents a 10.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,611 shares of company stock valued at $3,182,068 in the last 90 days. 0.05% of the stock is currently owned by company insiders.

NXP Semiconductors Stock Performance

Shares of NXPI stock opened at $266.53 on Friday. NXP Semiconductors N.V. has a 52-week low of $183.00 and a 52-week high of $339.95. The company has a quick ratio of 1.55, a current ratio of 2.24 and a debt-to-equity ratio of 1.00. The stock has a market cap of $67.29 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 0.96 and a beta of 1.79. The business has a 50-day simple moving average of $298.25 and a 200-day simple moving average of $250.47.

NXP Semiconductors (NASDAQ:NXPI) last posted its earnings results on Wednesday, April 29th. The semiconductor provider reported $3.05 EPS for the quarter, topping the consensus estimate of $2.98 by $0.07. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.14 billion. NXP Semiconductors had a return on equity of 26.75% and a net margin of 21.03%.NXP Semiconductors’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the company earned $2.64 earnings per share. On average, equities analysts expect that NXP Semiconductors N.V. will post 13.49 EPS for the current year.

NXP Semiconductors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Wednesday, June 24th were paid a dividend of $1.014 per share. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.5%. NXP Semiconductors’s dividend payout ratio (DPR) is presently 38.85%.

About NXP Semiconductors

NXP Semiconductors N.V. is a global semiconductor company headquartered in Eindhoven, the Netherlands, that designs and supplies mixed-signal and standard product solutions for a broad range of end markets. The company focuses on enabling secure connections and infrastructure for embedded applications, developing technologies used across automotive, industrial and Internet of Things (IoT), mobile, and communication infrastructure segments. NXP’s offerings target customers that require reliable, secure, and high-performance semiconductor components for connected devices and systems.

Product lines include microcontrollers and application processors, secure elements and authentication technologies, RF and high-power analog components, connectivity solutions, and vehicle networking and infotainment systems.