CIBC Asset Management Inc Raises Stock Position in NXP Semiconductors (NASDAQ:NXPI)

CIBC Asset Management Inc boosted its position in shares of NXP Semiconductors (NASDAQ:NXPI) by 6.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,011 shares of the semiconductor provider’s stock after acquiring an additional 4,173 shares during the period. CIBC Asset Management Inc’s holdings in NXP Semiconductors were worth $17,283,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Family Firm Inc. purchased a new position in NXP Semiconductors during the 2nd quarter worth $27,000. Addison Advisors LLC grew its stake 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 worth $29,000 after acquiring an additional 74 shares during the last quarter. Valley National Advisers Inc. increased its holdings in shares of NXP Semiconductors by 71.2% during the second 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 in the last quarter. Beacon Capital Management LLC raised its position in shares of NXP Semiconductors by 36.4% in the 1st quarter. Beacon Capital Management LLC now owns 150 shares of the semiconductor provider’s stock valued at $37,000 after purchasing an additional 40 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its stake in NXP Semiconductors by 615.0% in the 2nd quarter. Fortitude Family Office LLC now owns 143 shares of the semiconductor provider’s stock worth $38,000 after purchasing an additional 123 shares in the last quarter. 90.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other NXP Semiconductors 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 sale, the executive vice president now directly owns 30,269 shares in the company, valued at $7,033,002.15. This represents a 10.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. TD Cowen dropped their price target on NXP Semiconductors from $300.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $270.00 price objective on shares of NXP Semiconductors in a report on Monday, November 4th. Oppenheimer reduced their target price on shares of NXP Semiconductors from $330.00 to $300.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Citic Securities began coverage on shares of NXP Semiconductors in a report on Friday, October 11th. They issued a $288.00 price target on the stock. Finally, Susquehanna cut their price target on NXP Semiconductors from $260.00 to $250.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, NXP Semiconductors has an average rating of “Moderate Buy” and an average price target of $276.76.

NXP Semiconductors Stock Down 3.1 %

Shares of NASDAQ NXPI opened at $217.04 on Friday. The company has a market capitalization of $55.16 billion, a P/E ratio of 20.71, a P/E/G ratio of 4.48 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. The company has a 50 day simple moving average of $234.34 and a 200-day simple moving average of $252.88. NXP Semiconductors has a 1 year low of $198.00 and a 1 year high of $296.08.

NXP Semiconductors (NASDAQ:NXPI) last posted its earnings results 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. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.25 billion. NXP Semiconductors had a return on equity of 33.57% and a net margin of 20.98%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.31 earnings per share. On average, equities research analysts predict that NXP Semiconductors will post 11.37 earnings per share for the current year.

NXP Semiconductors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Thursday, September 12th were paid a dividend of $1.014 per share. This represents a $4.06 annualized dividend and a yield of 1.87%. The ex-dividend date was Thursday, September 12th. NXP Semiconductors’s dividend payout ratio (DPR) is presently 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.