Lyrical Asset Management LP Reduces Holdings in NXP Semiconductors (NASDAQ:NXPI)

Lyrical Asset Management LP decreased its position in shares of NXP Semiconductors (NASDAQ:NXPI - Free Report) by 31.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,835 shares of the semiconductor provider's stock after selling 9,515 shares during the quarter. Lyrical Asset Management LP's holdings in NXP Semiconductors were worth $4,331,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of NXP Semiconductors during the 4th quarter worth approximately $672,224,000. Van ECK Associates Corp increased its position in NXP Semiconductors by 27.1% during the fourth quarter. Van ECK Associates Corp now owns 3,865,446 shares of the semiconductor provider's stock worth $803,432,000 after buying an additional 824,317 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of NXP Semiconductors by 1,172.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 555,189 shares of the semiconductor provider's stock worth $115,396,000 after acquiring an additional 511,553 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in shares of NXP Semiconductors by 14.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 4,086,294 shares of the semiconductor provider's stock valued at $849,336,000 after acquiring an additional 500,413 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of NXP Semiconductors by 6.0% during the fourth quarter. Franklin Resources Inc. now owns 4,729,345 shares of the semiconductor provider's stock valued at $982,994,000 after acquiring an additional 269,656 shares during the last quarter. 90.54% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Morgan Stanley upgraded shares of NXP Semiconductors from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $231.00 to $257.00 in a report on Wednesday, February 12th. StockNews.com downgraded shares of NXP Semiconductors from a "buy" rating to a "hold" rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lowered their target price on shares of NXP Semiconductors from $260.00 to $240.00 and set a "neutral" rating for the company in a research note on Wednesday, February 5th. Citigroup raised NXP Semiconductors from a "neutral" rating to a "buy" rating and increased their price target for the stock from $210.00 to $290.00 in a research note on Thursday, February 20th. Finally, Stifel Nicolaus lowered their price objective on NXP Semiconductors from $231.00 to $210.00 and set a "hold" rating for the company in a research report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $267.00.

Insider Buying and Selling at NXP Semiconductors

In related news, COO Andrew Micallef sold 1,000 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $204.86, for a total transaction of $204,860.00. Following the sale, the chief operating officer now directly owns 8,828 shares in the company, valued at approximately $1,808,504.08. This trade represents a 10.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.11% of the stock is currently owned by corporate insiders.

NXP Semiconductors Trading Up 0.6 %

Shares of NXP Semiconductors stock traded up $1.05 during trading hours on Friday, hitting $166.64. The company's stock had a trading volume of 2,331,766 shares, compared to its average volume of 2,553,307. The business has a fifty day moving average of $206.04 and a 200 day moving average of $217.66. NXP Semiconductors has a 1-year low of $148.09 and a 1-year high of $296.08. The company has a quick ratio of 1.60, a current ratio of 2.36 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $42.26 billion, a PE ratio of 17.14, a P/E/G ratio of 3.01 and a beta of 1.40.

NXP Semiconductors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 19th were issued a $1.014 dividend. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $4.06 annualized dividend and a yield of 2.43%. NXP Semiconductors's dividend payout ratio is currently 41.62%.

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.