Cardinal Capital Management Inc. Purchases 242,298 Shares of NXP Semiconductors N.V. $NXPI

Cardinal Capital Management Inc. purchased a new stake in NXP Semiconductors N.V. (NASDAQ:NXPI) in the third quarter, HoldingsChannel reports. The firm purchased 242,298 shares of the semiconductor provider’s stock, valued at approximately $57,553,000. NXP Semiconductors comprises about 1.3% of Cardinal Capital Management Inc.’s portfolio, making the stock its 22nd largest position.

Other hedge funds have also modified their holdings of the company. Cyndeo Wealth Partners LLC bought a new position in shares of NXP Semiconductors during the 3rd quarter valued at about $272,000. Aspiriant LLC acquired a new position in shares of NXP Semiconductors in the 3rd quarter valued at approximately $268,000. Millennium Capital Advisors LLC bought a new stake in NXP Semiconductors during the 3rd quarter worth approximately $925,000. Howard Capital Management LLC bought a new stake in NXP Semiconductors during the 3rd quarter worth approximately $1,668,000. Finally, Patriot Investment Management Group Inc. acquired a new stake in NXP Semiconductors during the 3rd quarter worth approximately $256,000. 90.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NXPI has been the topic of several recent research reports. TD Cowen dropped their price target on NXP Semiconductors from $340.00 to $290.00 and set a “buy” rating on the stock in a research note on Wednesday, July 29th. JPMorgan Chase & Co. upped their price objective on NXP Semiconductors from $295.00 to $300.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Wall Street Zen cut NXP Semiconductors from a “buy” rating to a “hold” rating in a research report on Saturday. Sanford C. Bernstein reiterated a “market perform” rating and set a $290.00 price objective (up from $270.00) on shares of NXP Semiconductors in a report on Wednesday, July 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $300.00 target price on shares of NXP Semiconductors in a research report on Wednesday, July 29th. Sixteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $304.91.

NXP Semiconductors Stock Down 0.8%

NXPI opened at $229.33 on Friday. The stock has a fifty day moving average of $229.94 and a 200-day moving average of $255.96. The company has a market capitalization of $57.83 billion, a P/E ratio of 19.57, a P/E/G ratio of 0.78 and a beta of 1.80. NXP Semiconductors N.V. has a fifty-two week low of $183.00 and a fifty-two week high of $339.95. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.36 and a current ratio of 2.04.

NXP Semiconductors (NASDAQ:NXPI) last released its earnings results on Wednesday, July 29th. The semiconductor provider reported $3.61 earnings per share for the quarter, beating analysts’ consensus estimates of $3.52 by $0.09. The firm had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.47 billion. NXP Semiconductors had a return on equity of 27.83% and a net margin of 22.56%. The company’s revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.72 EPS. On average, equities analysts expect that NXP Semiconductors N.V. will post 13.75 EPS for the current year.

NXP Semiconductors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Wednesday, September 16th were paid a $1.0140 dividend. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Wednesday, September 16th. NXP Semiconductors’s dividend payout ratio is presently 34.64%.

Insider Activity

In other NXP Semiconductors news, EVP Christopher L. Jensen sold 3,355 shares of NXP Semiconductors stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $240.00, for a total transaction of $805,200.00. Following the transaction, the executive vice president directly owned 288 shares of the company’s stock, valued at approximately $69,120. The trade was a 92.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Micallef sold 1,000 shares of NXP Semiconductors stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $226.04, for a total value of $226,040.00. Following the completion of the sale, the executive vice president owned 7,942 shares of the company’s stock, valued at approximately $1,795,209.68. The trade was a 11.18% 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. 0.05% of the stock is currently owned by company insiders.

NXP Semiconductors Profile

NXP Semiconductors N.V. is a global semiconductor company headquartered in Eindhoven, the Netherlands. The company develops and supplies secure connectivity and processing solutions for automotive, industrial and Internet of Things (IoT), mobile, and communication infrastructure applications.

Its product portfolio includes microcontrollers and application processors, automotive networking and processing chips, analog and power-management devices, radio-frequency and wireless connectivity products, sensors, and embedded security solutions.