Sound Shore Management Inc. CT Trims Holdings in NXP Semiconductors (NASDAQ:NXPI)

Sound Shore Management Inc. CT reduced its stake in NXP Semiconductors (NASDAQ:NXPI) by 3.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 312,431 shares of the semiconductor provider’s stock after selling 9,910 shares during the quarter. NXP Semiconductors makes up approximately 2.8% of Sound Shore Management Inc. CT’s investment portfolio, making the stock its 15th largest position. Sound Shore Management Inc. CT owned about 0.12% of NXP Semiconductors worth $84,072,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in NXP Semiconductors by 893.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,332,578 shares of the semiconductor provider’s stock worth $535,747,000 after acquiring an additional 2,097,727 shares during the last quarter. Vanguard Group Inc. raised its holdings in NXP Semiconductors by 17.3% in the 1st quarter. Vanguard Group Inc. now owns 12,921,432 shares of the semiconductor provider’s stock valued at $3,201,543,000 after buying an additional 1,909,898 shares during the period. Public Employees Retirement Association of Colorado acquired a new position in NXP Semiconductors in the fourth quarter valued at about $164,044,000. Kodai Capital Management LP purchased a new position in NXP Semiconductors during the fourth quarter worth about $125,319,000. Finally, Bessemer Group Inc. boosted its stake in NXP Semiconductors by 4,525.6% during the first quarter. Bessemer Group Inc. now owns 356,774 shares of the semiconductor provider’s stock worth $88,399,000 after buying an additional 349,061 shares during the period. 90.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NXP Semiconductors

In related news, EVP Jennifer Wuamett sold 3,500 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $232.35, for a total transaction of $813,225.00. Following the completion of the sale, the executive vice president now directly owns 30,269 shares of the company’s stock, valued at $7,033,002.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Julie Southern bought 146 shares of the stock in a transaction dated Tuesday, July 30th. The shares were acquired at an average price of $257.54 per share, with a total value of $37,600.84. Following the completion of the acquisition, the insider now directly owns 11,297 shares in the company, valued at $2,909,429.38. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jennifer Wuamett sold 3,500 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $232.35, for a total transaction of $813,225.00. Following the transaction, the executive vice president now directly owns 30,269 shares of the company’s stock, valued at $7,033,002.15. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $350.00 price objective on shares of NXP Semiconductors in a report on Tuesday, July 23rd. StockNews.com cut NXP Semiconductors from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. TD Cowen lowered their price target on NXP Semiconductors from $330.00 to $310.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Citigroup boosted their price objective on NXP Semiconductors from $150.00 to $220.00 and gave the company a “sell” rating in a report on Monday, July 15th. Finally, Oppenheimer raised their target price on NXP Semiconductors from $295.00 to $330.00 and gave the company an “outperform” rating in a report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, NXP Semiconductors has a consensus rating of “Moderate Buy” and a consensus target price of $294.89.

NXP Semiconductors Stock Down 2.9 %

Shares of NASDAQ NXPI opened at $231.88 on Friday. The business has a 50-day moving average price of $248.01 and a 200 day moving average price of $254.30. The stock has a market cap of $59.29 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 2.50 and a beta of 1.49. The company has a quick ratio of 1.52, a current ratio of 2.21 and a debt-to-equity ratio of 1.04. NXP Semiconductors has a 52-week low of $167.21 and a 52-week high of $296.08.

NXP Semiconductors (NASDAQ:NXPI) last posted its quarterly earnings data on Monday, July 22nd. The semiconductor provider reported $3.20 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.38. NXP Semiconductors had a return on equity of 35.65% and a net margin of 21.21%. The business had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the company earned $3.04 earnings per share. The company’s revenue was down 5.2% compared to the same quarter last year. Equities research analysts forecast that NXP Semiconductors will post 11.97 earnings per share for the current year.

NXP Semiconductors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Thursday, September 12th will be given a $1.014 dividend. This represents a $4.06 annualized dividend and a yield of 1.75%. The ex-dividend date is Thursday, September 12th. NXP Semiconductors’s dividend payout ratio (DPR) is presently 37.40%.

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.