NXP Semiconductors (NASDAQ:NXPI) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. reduced its stake in NXP Semiconductors (NASDAQ:NXPI) by 3.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,339 shares of the semiconductor provider’s stock after selling 175 shares during the quarter. Griffin Asset Management Inc.’s holdings in NXP Semiconductors were worth $1,075,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank acquired a new stake in NXP Semiconductors during the 4th quarter worth about $762,077,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of NXP Semiconductors by 893.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,332,578 shares of the semiconductor provider’s stock worth $535,747,000 after purchasing an additional 2,097,727 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in shares of NXP Semiconductors during the fourth quarter worth about $164,044,000. Kodai Capital Management LP purchased a new stake in NXP Semiconductors in the fourth quarter valued at approximately $125,319,000. Finally, International Assets Investment Management LLC increased its holdings in NXP Semiconductors by 21,013.6% in the 4th quarter. International Assets Investment Management LLC now owns 515,172 shares of the semiconductor provider’s stock worth $118,325,000 after buying an additional 512,732 shares during the period. 90.54% of the stock is currently owned by institutional investors and hedge funds.

NXP Semiconductors Price Performance

NASDAQ:NXPI opened at $269.09 on Friday. The stock has a 50 day moving average of $264.90 and a two-hundred day moving average of $243.23. NXP Semiconductors has a 12 month low of $167.21 and a 12 month high of $286.87. The firm has a market cap of $68.80 billion, a P/E ratio of 24.85, a price-to-earnings-growth ratio of 2.51 and a beta of 1.50. The company has a current ratio of 2.35, a quick ratio of 1.64 and a debt-to-equity ratio of 1.11.

NXP Semiconductors (NASDAQ:NXPI) last issued its quarterly earnings results on Monday, April 29th. The semiconductor provider reported $2.85 EPS for the quarter, topping the consensus estimate of $2.78 by $0.07. NXP Semiconductors had a return on equity of 37.65% and a net margin of 21.24%. The firm had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.13 billion. On average, analysts expect that NXP Semiconductors will post 12.47 earnings per share for the current fiscal year.

NXP Semiconductors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Thursday, June 13th will be paid a $1.014 dividend. This represents a $4.06 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Thursday, June 13th. NXP Semiconductors’s dividend payout ratio is currently 37.49%.

Analysts Set New Price Targets

Several brokerages have commented on NXPI. Needham & Company LLC lifted their price objective on shares of NXP Semiconductors from $250.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. TD Cowen boosted their target price on shares of NXP Semiconductors from $270.00 to $300.00 and gave the company an “outperform” rating in a research report on Tuesday, March 12th. Evercore ISI increased their price target on NXP Semiconductors from $300.00 to $370.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Argus raised their target price on NXP Semiconductors from $260.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, UBS Group boosted their price target on NXP Semiconductors from $230.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, NXP Semiconductors has an average rating of “Moderate Buy” and an average price target of $267.80.

Insider Buying and Selling

In other NXP Semiconductors news, CEO Kurt Sievers sold 8,548 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $275.75, for a total value of $2,357,111.00. Following the completion of the sale, the chief executive officer now owns 177,889 shares in the company, valued at approximately $49,052,891.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by company insiders.

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.