Prudential PLC Reduces Stake in NXP Semiconductors N.V. $NXPI

Prudential PLC trimmed its stake in NXP Semiconductors N.V. (NASDAQ:NXPI) by 60.5% during the fourth quarter, Holdings Channel reports. The fund owned 14,081 shares of the semiconductor provider’s stock after selling 21,533 shares during the period. Prudential PLC’s holdings in NXP Semiconductors were worth $3,056,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NXPI. Norges Bank purchased a new position in NXP Semiconductors in the fourth quarter valued at about $613,029,000. Wellington Management Group LLP boosted its stake in NXP Semiconductors by 11.9% in the third quarter. Wellington Management Group LLP now owns 12,583,718 shares of the semiconductor provider’s stock valued at $2,865,690,000 after acquiring an additional 1,333,920 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in NXP Semiconductors by 56.3% in the second quarter. Rafferty Asset Management LLC now owns 1,916,922 shares of the semiconductor provider’s stock valued at $418,828,000 after acquiring an additional 690,277 shares during the last quarter. Woodline Partners LP boosted its stake in NXP Semiconductors by 6,342.2% in the third quarter. Woodline Partners LP now owns 673,403 shares of the semiconductor provider’s stock valued at $153,354,000 after acquiring an additional 662,950 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in NXP Semiconductors by 21.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,227,516 shares of the semiconductor provider’s stock valued at $507,241,000 after acquiring an additional 398,250 shares during the last quarter. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NXP Semiconductors news, EVP Andrew Hardy sold 5,289 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $235.00, for a total value of $1,242,915.00. Following the sale, the executive vice president directly owned 2,020 shares in the company, valued at $474,700. This represents a 72.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher L. Jensen sold 1,746 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $316.53, for a total transaction of $552,661.38. Following the completion of the sale, the executive vice president owned 3,643 shares in the company, valued at $1,153,118.79. This represents a 32.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,611 shares of company stock worth $3,061,078 in the last three months. 0.05% of the stock is currently owned by corporate insiders.

NXP Semiconductors Stock Down 8.1%

NXPI stock opened at $295.96 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.24 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $74.72 billion, a PE ratio of 28.32, a PEG ratio of 1.07 and a beta of 1.77. NXP Semiconductors N.V. has a twelve month low of $183.00 and a twelve month high of $339.95. The stock has a 50-day simple moving average of $260.21 and a two-hundred day simple moving average of $234.41.

NXP Semiconductors (NASDAQ:NXPI) last announced its quarterly earnings results on Wednesday, April 29th. The semiconductor provider reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.98 by $0.07. NXP Semiconductors had a net margin of 21.03% and a return on equity of 26.75%. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the prior year, the firm posted $2.64 earnings per share. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, equities analysts predict that NXP Semiconductors N.V. will post 13.38 EPS for the current fiscal year.

NXP Semiconductors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Wednesday, March 25th were paid a $1.014 dividend. The ex-dividend date was Wednesday, March 25th. This represents a $4.06 annualized dividend and a yield of 1.4%. NXP Semiconductors’s dividend payout ratio is currently 38.85%.

Analyst Ratings Changes

NXPI has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of NXP Semiconductors in a research report on Wednesday, April 29th. Barclays increased their target price on shares of NXP Semiconductors from $295.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Weiss Ratings upgraded shares of NXP Semiconductors from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Cantor Fitzgerald increased their target price on shares of NXP Semiconductors from $380.00 to $400.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of NXP Semiconductors in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, NXP Semiconductors has an average rating of “Moderate Buy” and an average target price of $294.25.

About NXP Semiconductors

NXP Semiconductors N.V. is a global semiconductor company headquartered in Eindhoven, the Netherlands, that designs and supplies mixed-signal and standard product solutions for a broad range of end markets. The company focuses on enabling secure connections and infrastructure for embedded applications, developing technologies used across automotive, industrial and Internet of Things (IoT), mobile, and communication infrastructure segments. NXP’s offerings target customers that require reliable, secure, and high-performance semiconductor components for connected devices and systems.

Product lines include microcontrollers and application processors, secure elements and authentication technologies, RF and high-power analog components, connectivity solutions, and vehicle networking and infotainment systems.