Estabrook Capital Management Cuts Holdings in NXP Semiconductors (NASDAQ:NXPI)

Estabrook Capital Management trimmed its position in NXP Semiconductors (NASDAQ:NXPI) by 1.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,930 shares of the semiconductor provider’s stock after selling 312 shares during the quarter. Estabrook Capital Management’s holdings in NXP Semiconductors were worth $4,825,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Aveo Capital Partners LLC lifted its position in NXP Semiconductors by 43.7% during the fourth quarter. Aveo Capital Partners LLC now owns 1,500 shares of the semiconductor provider’s stock valued at $345,000 after purchasing an additional 456 shares during the last quarter. 9258 Wealth Management LLC raised its position in shares of NXP Semiconductors by 21.2% during the 4th quarter. 9258 Wealth Management LLC now owns 5,041 shares of the semiconductor provider’s stock valued at $1,158,000 after buying an additional 881 shares in the last quarter. Gladstone Institutional Advisory LLC bought a new position in shares of NXP Semiconductors in the 4th quarter valued at about $253,000. CreativeOne Wealth LLC purchased a new position in NXP Semiconductors in the fourth quarter worth about $243,000. Finally, SageView Advisory Group LLC increased its stake in NXP Semiconductors by 27.3% during the fourth quarter. SageView Advisory Group LLC now owns 6,259 shares of the semiconductor provider’s stock worth $1,347,000 after acquiring an additional 1,341 shares during the last quarter. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NXP Semiconductors

In related news, insider Julie Southern purchased 146 shares of NXP Semiconductors stock in a transaction dated Tuesday, July 30th. The stock was purchased at an average cost of $257.54 per share, with a total value of $37,600.84. Following the transaction, the insider now owns 11,297 shares in the company, valued at approximately $2,909,429.38. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Julie Southern acquired 146 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were purchased at an average price of $257.54 per share, with a total value of $37,600.84. Following the transaction, the insider now directly owns 11,297 shares in the company, valued at $2,909,429.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jennifer Wuamett sold 3,500 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $7,033,002.15. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

NXP Semiconductors Price Performance

NXPI opened at $231.88 on Friday. The company has a current ratio of 2.21, a quick ratio of 1.52 and a debt-to-equity ratio of 1.04. The business’s fifty day simple moving average is $248.01 and its 200-day simple moving average is $254.34. The company has a market capitalization of $59.29 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 2.50 and a beta of 1.49. NXP Semiconductors has a 12-month low of $167.21 and a 12-month high of $296.08.

NXP Semiconductors (NASDAQ:NXPI) last posted its earnings results on Monday, July 22nd. The semiconductor provider reported $3.20 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.38. NXP Semiconductors had a net margin of 21.21% and a return on equity of 35.65%. The business had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the firm posted $3.04 EPS. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, equities research analysts anticipate that NXP Semiconductors will post 11.97 earnings per share for the current fiscal year.

NXP Semiconductors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Thursday, September 12th will be issued a dividend of $1.014 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $4.06 dividend on an annualized basis and a yield of 1.75%. NXP Semiconductors’s dividend payout ratio is currently 37.40%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. StockNews.com lowered NXP Semiconductors from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Morgan Stanley lowered their price target on NXP Semiconductors from $275.00 to $271.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Stifel Nicolaus boosted their price objective on shares of NXP Semiconductors from $240.00 to $275.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Needham & Company LLC increased their target price on shares of NXP Semiconductors from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $350.00 price target on shares of NXP Semiconductors in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, NXP Semiconductors currently has an average rating of “Moderate Buy” and a consensus price target of $294.89.

NXP Semiconductors Company 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.