NewEdge Wealth LLC Reduces Stock Holdings in NXP Semiconductors (NASDAQ:NXPI)

NewEdge Wealth LLC reduced its stake in NXP Semiconductors (NASDAQ:NXPI) by 2.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 16,067 shares of the semiconductor provider’s stock after selling 406 shares during the period. NewEdge Wealth LLC’s holdings in NXP Semiconductors were worth $3,340,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC grew its position in shares of NXP Semiconductors by 915.4% during the fourth quarter. ORG Wealth Partners LLC now owns 132 shares of the semiconductor provider’s stock worth $27,000 after acquiring an additional 119 shares during the last quarter. Sound Income Strategies LLC grew its position in NXP Semiconductors by 169.2% in the 4th quarter. Sound Income Strategies LLC now owns 140 shares of the semiconductor provider’s stock valued at $29,000 after buying an additional 88 shares during the last quarter. FSA Wealth Management LLC acquired a new stake in NXP Semiconductors in the third quarter valued at $33,000. Brooklyn Investment Group lifted its holdings in NXP Semiconductors by 69.5% in the fourth quarter. Brooklyn Investment Group now owns 161 shares of the semiconductor provider’s stock valued at $33,000 after acquiring an additional 66 shares during the period. Finally, Fortitude Family Office LLC lifted its holdings in NXP Semiconductors by 52.4% in the fourth quarter. Fortitude Family Office LLC now owns 218 shares of the semiconductor provider’s stock valued at $45,000 after acquiring an additional 75 shares during the period. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

NXP Semiconductors Trading Down 0.6 %

Shares of NXPI stock opened at $215.59 on Friday. The firm has a 50-day moving average price of $216.03 and a 200 day moving average price of $227.50. NXP Semiconductors has a twelve month low of $198.21 and a twelve month high of $296.08. The company has a market capitalization of $54.68 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 3.01 and a beta of 1.46. The company has a current ratio of 2.36, a quick ratio of 1.60 and a debt-to-equity ratio of 1.09.

Wall Street Analysts Forecast Growth

NXPI has been the subject of a number of recent analyst reports. Truist Financial raised their target price on NXP Semiconductors from $245.00 to $258.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. TD Cowen reduced their target price on NXP Semiconductors from $300.00 to $285.00 and set a “buy” rating for the company in a report on Friday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price target on shares of NXP Semiconductors in a research note on Tuesday, February 4th. Morgan Stanley raised NXP Semiconductors from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $231.00 to $257.00 in a research note on Wednesday, February 12th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of NXP Semiconductors in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.00.

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.