Palouse Capital Management Inc. Reduces Holdings in NXP Semiconductors (NASDAQ:NXPI)

Palouse Capital Management Inc. reduced its holdings in shares of NXP Semiconductors (NASDAQ:NXPI) by 4.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,197 shares of the semiconductor provider’s stock after selling 412 shares during the period. NXP Semiconductors comprises 1.7% of Palouse Capital Management Inc.’s portfolio, making the stock its 25th largest holding. Palouse Capital Management Inc.’s holdings in NXP Semiconductors were worth $2,475,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new position in shares of NXP Semiconductors during the 1st quarter valued at approximately $25,000. FinTrust Capital Advisors LLC lifted its holdings in NXP Semiconductors by 75.4% during the fourth quarter. FinTrust Capital Advisors LLC now owns 114 shares of the semiconductor provider’s stock valued at $26,000 after purchasing an additional 49 shares in the last quarter. Family Firm Inc. bought a new position in shares of NXP Semiconductors in the second quarter worth approximately $27,000. Addison Advisors LLC increased its stake in shares of NXP Semiconductors by 224.2% in the second quarter. Addison Advisors LLC now owns 107 shares of the semiconductor provider’s stock worth $29,000 after purchasing an additional 74 shares in the last quarter. Finally, LifeSteps Financial Inc. bought a new stake in shares of NXP Semiconductors during the 1st quarter valued at $30,000. 90.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on NXPI. Morgan Stanley dropped their target price on shares of NXP Semiconductors from $275.00 to $271.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Oppenheimer increased their target price on NXP Semiconductors from $295.00 to $330.00 and gave the stock an “outperform” rating in a research report on Friday, July 12th. TD Cowen decreased their target price on NXP Semiconductors from $330.00 to $310.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Barclays increased their price objective on shares of NXP Semiconductors from $280.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Finally, StockNews.com downgraded shares of NXP Semiconductors from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $294.89.

Insider Buying and Selling at NXP Semiconductors

In other news, insider Julie Southern bought 146 shares of the stock in a transaction dated Tuesday, July 30th. The stock was purchased at an average price of $257.54 per share, for a total transaction of $37,600.84. Following the acquisition, the insider now owns 11,297 shares of the company’s stock, valued at $2,909,429.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other NXP Semiconductors news, insider Julie Southern bought 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 completion of the purchase, the insider now owns 11,297 shares in the company, valued at approximately $2,909,429.38. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jennifer Wuamett sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $232.35, for a total value of $813,225.00. Following the sale, the executive vice president now directly owns 30,269 shares of the company’s stock, valued at $7,033,002.15. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

NXP Semiconductors Stock Down 0.5 %

Shares of NASDAQ:NXPI opened at $231.51 on Thursday. The company has a 50-day moving average price of $249.70 and a 200 day moving average price of $254.56. The company has a current ratio of 2.21, a quick ratio of 1.52 and a debt-to-equity ratio of 1.04. NXP Semiconductors has a 12 month low of $167.21 and a 12 month high of $296.08. The company has a market cap of $59.19 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 2.50 and a beta of 1.49.

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

NXP Semiconductors Dividend Announcement

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

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.