HITE Hedge Asset Management LLC Reduces Stock Position in NXP Semiconductors (NASDAQ:NXPI)

HITE Hedge Asset Management LLC reduced its stake in NXP Semiconductors (NASDAQ:NXPI - Free Report) by 76.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 13,003 shares of the semiconductor provider's stock after selling 43,015 shares during the quarter. HITE Hedge Asset Management LLC's holdings in NXP Semiconductors were worth $2,703,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. ORG Wealth Partners LLC increased its stake in 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 purchasing an additional 119 shares during the period. Sound Income Strategies LLC lifted its holdings in NXP Semiconductors by 169.2% during the 4th quarter. Sound Income Strategies LLC now owns 140 shares of the semiconductor provider's stock worth $29,000 after buying an additional 88 shares in the last quarter. Smithfield Trust Co purchased a new position in NXP Semiconductors in the 4th quarter valued at approximately $32,000. Runnymede Capital Advisors Inc. acquired a new position in shares of NXP Semiconductors in the fourth quarter worth $32,000. Finally, Brooklyn Investment Group increased its position in shares of NXP Semiconductors by 69.5% during the fourth quarter. Brooklyn Investment Group now owns 161 shares of the semiconductor provider's stock worth $33,000 after acquiring an additional 66 shares during the period. Hedge funds and other institutional investors own 90.54% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Needham & Company LLC lowered their target price on NXP Semiconductors from $250.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, February 5th. Citigroup cut their target price on shares of NXP Semiconductors from $290.00 to $220.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Truist Financial lifted their price target on shares of NXP Semiconductors from $245.00 to $258.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. The Goldman Sachs Group restated a "buy" rating on shares of NXP Semiconductors in a research note on Tuesday, February 4th. Finally, Mizuho upped their price objective on NXP Semiconductors from $240.00 to $255.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, NXP Semiconductors has a consensus rating of "Moderate Buy" and a consensus price target of $258.10.

NXP Semiconductors Stock Performance

NXPI traded up $8.62 during trading on Wednesday, hitting $183.28. The stock had a trading volume of 1,321,297 shares, compared to its average volume of 2,570,944. NXP Semiconductors has a twelve month low of $148.09 and a twelve month high of $296.08. The firm has a market capitalization of $46.48 billion, a P/E ratio of 18.84, a PEG ratio of 3.01 and a beta of 1.40. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.60 and a current ratio of 2.36. The company's 50-day moving average price is $199.27 and its 200 day moving average price is $213.98.

NXP Semiconductors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 19th were issued a dividend of $1.014 per share. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $4.06 annualized dividend and a yield of 2.21%. NXP Semiconductors's dividend payout ratio is currently 41.62%.

Insider Activity at NXP Semiconductors

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

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.