Westpac Banking Corp Cuts Stock Holdings in NXP Semiconductors (NASDAQ:NXPI)

Westpac Banking Corp decreased its holdings in NXP Semiconductors (NASDAQ:NXPI - Free Report) by 58.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,058 shares of the semiconductor provider's stock after selling 2,861 shares during the quarter. Westpac Banking Corp's holdings in NXP Semiconductors were worth $428,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NXPI. ORG Wealth Partners LLC raised its position in shares of NXP Semiconductors by 915.4% in the fourth quarter. ORG Wealth Partners LLC now owns 132 shares of the semiconductor provider's stock valued at $27,000 after purchasing an additional 119 shares during the period. Sound Income Strategies LLC grew its position in 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 acquiring an additional 88 shares during the last quarter. Smithfield Trust Co bought a new stake in NXP Semiconductors in the fourth quarter worth $32,000. Runnymede Capital Advisors Inc. bought a new position in NXP Semiconductors during the 4th quarter worth approximately $32,000. Finally, Brooklyn Investment Group grew its holdings in shares of NXP Semiconductors by 69.5% in the fourth quarter. Brooklyn Investment Group now owns 161 shares of the semiconductor provider's stock worth $33,000 after purchasing an additional 66 shares during the last quarter. Institutional investors and hedge funds own 90.54% of the company's stock.

Insider Activity

In other news, COO Andrew Micallef sold 1,000 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $204.86, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.11% of the company's stock.

Remove Ads

NXP Semiconductors Trading Down 11.8 %

NXPI stock traded down $21.89 during midday trading on Thursday, reaching $163.98. The company's stock had a trading volume of 1,554,953 shares, compared to its average volume of 2,533,789. The firm has a market capitalization of $41.59 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 3.01 and a beta of 1.40. NXP Semiconductors has a 1 year low of $148.09 and a 1 year high of $296.08. 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 stock has a fifty day simple moving average of $206.82 and a two-hundred day simple moving average of $218.13.

NXP Semiconductors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 19th were issued a dividend of $1.014 per share. This represents a $4.06 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Wednesday, March 19th. NXP Semiconductors's payout ratio is 41.62%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Barclays dropped their target price on shares of NXP Semiconductors from $280.00 to $230.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Susquehanna decreased their target price on NXP Semiconductors from $235.00 to $225.00 and set a "neutral" rating for the company in a report on Wednesday, February 5th. The Goldman Sachs Group reiterated a "buy" rating on shares of NXP Semiconductors in a research report on Tuesday, February 4th. Morgan Stanley raised NXP Semiconductors from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $231.00 to $257.00 in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. dropped their price target on NXP Semiconductors from $260.00 to $240.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, NXP Semiconductors presently has an average rating of "Moderate Buy" and a consensus price target of $267.00.

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.