New England Asset Management Inc. Trims Stake in NXP Semiconductors (NASDAQ:NXPI)

New England Asset Management Inc. trimmed its holdings in NXP Semiconductors (NASDAQ:NXPI - Free Report) by 25.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,295 shares of the semiconductor provider's stock after selling 8,180 shares during the quarter. New England Asset Management Inc.'s holdings in NXP Semiconductors were worth $5,831,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LMR Partners LLP acquired a new position in shares of NXP Semiconductors during the 3rd quarter worth about $240,000. Claro Advisors LLC grew its position in shares of NXP Semiconductors by 24.1% in the 3rd quarter. Claro Advisors LLC now owns 2,022 shares of the semiconductor provider's stock valued at $485,000 after purchasing an additional 393 shares during the period. AM Squared Ltd acquired a new position in shares of NXP Semiconductors in the 3rd quarter valued at approximately $72,000. Maxwell Wealth Strategies Inc. grew its position in shares of NXP Semiconductors by 40.1% in the 3rd quarter. Maxwell Wealth Strategies Inc. now owns 11,838 shares of the semiconductor provider's stock valued at $2,659,000 after purchasing an additional 3,386 shares during the period. Finally, Seelaus Asset Management LLC grew its position in shares of NXP Semiconductors by 4.6% in the 3rd quarter. Seelaus Asset Management LLC now owns 2,616 shares of the semiconductor provider's stock valued at $625,000 after purchasing an additional 115 shares during the period. 90.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Barclays decreased their price objective on NXP Semiconductors from $330.00 to $280.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Morgan Stanley reduced their price target on NXP Semiconductors from $250.00 to $235.00 and set an "equal weight" rating for the company in a research report on Wednesday, November 6th. Truist Financial reduced their price target on NXP Semiconductors from $287.00 to $252.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Loop Capital began coverage on NXP Semiconductors in a research report on Monday, November 11th. They set a "buy" rating and a $300.00 price target for the company. Finally, Evercore ISI reduced their price target on NXP Semiconductors from $370.00 to $315.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, NXP Semiconductors presently has a consensus rating of "Moderate Buy" and an average target price of $276.76.

Insiders Place Their Bets

In related news, EVP Jennifer Wuamett sold 3,500 shares of NXP Semiconductors stock in a transaction that occurred 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 transaction, the executive vice president now owns 30,269 shares of the company's stock, valued at $7,033,002.15. The trade was a 10.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is currently owned by corporate insiders.

NXP Semiconductors Price Performance

NASDAQ:NXPI traded down $0.28 during trading hours on Tuesday, hitting $219.91. The company's stock had a trading volume of 1,503,359 shares, compared to its average volume of 2,303,663. The stock has a fifty day simple moving average of $233.94 and a 200-day simple moving average of $252.43. The company has a market capitalization of $55.89 billion, a P/E ratio of 21.01, a PEG ratio of 4.36 and a beta of 1.49. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.35 and a quick ratio of 1.60. NXP Semiconductors has a twelve month low of $198.00 and a twelve month high of $296.08.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last posted its earnings results on Monday, November 4th. The semiconductor provider reported $3.45 EPS for the quarter, beating the consensus estimate of $3.43 by $0.02. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.25 billion. NXP Semiconductors had a return on equity of 33.57% and a net margin of 20.98%. The business's quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the company earned $3.31 earnings per share. On average, analysts anticipate that NXP Semiconductors will post 11.37 EPS for the current fiscal year.

NXP Semiconductors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Thursday, September 12th were issued a $1.014 dividend. The ex-dividend date was Thursday, September 12th. This represents a $4.06 dividend on an annualized basis and a yield of 1.84%. NXP Semiconductors's payout ratio is currently 38.74%.

NXP Semiconductors 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.