Truist Financial Corp Trims Stock Holdings in NXP Semiconductors (NASDAQ:NXPI)

Truist Financial Corp trimmed its stake in NXP Semiconductors (NASDAQ:NXPI - Free Report) by 5.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 154,607 shares of the semiconductor provider's stock after selling 9,266 shares during the quarter. Truist Financial Corp owned approximately 0.06% of NXP Semiconductors worth $32,135,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. ORG Wealth Partners LLC grew its holdings 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 valued at $27,000 after buying an additional 119 shares in the last quarter. Sound Income Strategies LLC grew its holdings in shares of NXP Semiconductors by 169.2% during the fourth 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 in the last quarter. FSA Wealth Management LLC purchased a new position in shares of NXP Semiconductors during the third quarter valued at $33,000. Brooklyn Investment Group grew its holdings 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 valued at $33,000 after buying an additional 66 shares in the last quarter. Finally, Fortitude Family Office LLC grew its stake 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 purchasing an additional 75 shares in the last quarter. 90.54% of the stock is currently owned by institutional investors and hedge funds.

NXP Semiconductors Stock Down 3.8 %

Shares of NASDAQ NXPI traded down $9.34 during mid-day trading on Friday, hitting $236.52. The company had a trading volume of 5,304,408 shares, compared to its average volume of 2,894,500. NXP Semiconductors has a one year low of $198.21 and a one year high of $296.08. The company has a market capitalization of $60.11 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 3.01 and a beta of 1.46. The firm has a 50-day simple moving average of $214.47 and a two-hundred day simple moving average of $227.98. 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

A number of research analysts have commented on the company. Wells Fargo & Company assumed coverage on NXP Semiconductors in a research note on Friday, November 22nd. They issued an "overweight" rating and a $250.00 target price on the stock. Truist Financial upped their price target on NXP Semiconductors from $245.00 to $258.00 and gave the stock a "buy" rating in a research note on Tuesday. Needham & Company LLC decreased their price target 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. JPMorgan Chase & Co. decreased their price target on NXP Semiconductors from $260.00 to $240.00 and set a "neutral" rating for the company in a research note on Wednesday, February 5th. Finally, The Goldman Sachs Group upgraded NXP Semiconductors from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $260.00 to $257.00 in a research note on Friday, January 10th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $267.00.

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.