Sumitomo Mitsui Trust Group Inc. Reduces Stock Holdings in NXP Semiconductors (NASDAQ:NXPI)

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of NXP Semiconductors (NASDAQ:NXPI - Free Report) by 7.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 908,524 shares of the semiconductor provider's stock after selling 72,764 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.36% of NXP Semiconductors worth $218,055,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Family Firm Inc. acquired a new position in NXP Semiconductors during the 2nd quarter valued at approximately $27,000. Addison Advisors LLC grew its holdings in shares of NXP Semiconductors by 224.2% during the second quarter. Addison Advisors LLC now owns 107 shares of the semiconductor provider's stock valued at $29,000 after buying an additional 74 shares during the last quarter. Valley National Advisers Inc. increased its position in shares of NXP Semiconductors by 71.2% in the 2nd quarter. Valley National Advisers Inc. now owns 125 shares of the semiconductor provider's stock valued at $33,000 after acquiring an additional 52 shares during the period. Beacon Capital Management LLC raised its stake in NXP Semiconductors by 36.4% in the 1st quarter. Beacon Capital Management LLC now owns 150 shares of the semiconductor provider's stock worth $37,000 after acquiring an additional 40 shares during the last quarter. Finally, Fortitude Family Office LLC lifted its position in NXP Semiconductors by 615.0% during the 2nd quarter. Fortitude Family Office LLC now owns 143 shares of the semiconductor provider's stock worth $38,000 after acquiring an additional 123 shares during the period. Hedge funds and other institutional investors own 90.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NXPI. Stifel Nicolaus cut their price objective on NXP Semiconductors from $275.00 to $260.00 and set a "hold" rating on the stock in a report on Thursday, October 17th. Needham & Company LLC cut their price target on shares of NXP Semiconductors from $300.00 to $250.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group reduced their price target on shares of NXP Semiconductors from $285.00 to $277.00 in a research report on Friday, October 11th. Citic Securities began coverage on shares of NXP Semiconductors in a report on Friday, October 11th. They issued a $288.00 price objective on the stock. Finally, Truist Financial cut their price objective on shares of NXP Semiconductors from $287.00 to $252.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $276.76.

NXP Semiconductors Price Performance

NXP Semiconductors stock traded down $1.83 during trading on Wednesday, reaching $222.96. The company had a trading volume of 3,144,657 shares, compared to its average volume of 2,304,548. The firm has a market capitalization of $56.67 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 4.27 and a beta of 1.49. The firm's 50-day simple moving average is $234.91 and its 200 day simple moving average is $253.29. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.60 and a current ratio of 2.35. NXP Semiconductors has a 1-year low of $190.17 and a 1-year high of $296.08.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The semiconductor provider reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.02. NXP Semiconductors had a return on equity of 33.57% and a net margin of 20.98%. The company had revenue of $3.25 billion for the quarter, compared to analysts' expectations of $3.25 billion. During the same period in the previous year, the firm posted $3.31 EPS. NXP Semiconductors's revenue was down 5.4% compared to the same quarter last year. As a group, equities research analysts anticipate that NXP Semiconductors will post 11.43 earnings per share for the current fiscal year.

NXP Semiconductors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Thursday, September 12th were issued a dividend of $1.014 per share. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Thursday, September 12th. NXP Semiconductors's payout ratio is 38.74%.

Insider Activity

In related news, EVP Jennifer Wuamett sold 3,500 shares of the business's stock in a transaction dated Tuesday, September 17th. The shares were 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 in the company, valued at approximately $7,033,002.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.11% of the company's stock.

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.