Palouse Capital Management Inc. Lowers Stake in NXP Semiconductors (NASDAQ:NXPI)

Palouse Capital Management Inc. cut its stake in NXP Semiconductors (NASDAQ:NXPI) by 13.3% in the 4th quarter, Holdings Channel reports. The fund owned 10,265 shares of the semiconductor provider’s stock after selling 1,574 shares during the quarter. NXP Semiconductors comprises about 1.7% of Palouse Capital Management Inc.’s holdings, making the stock its 20th largest position. Palouse Capital Management Inc.’s holdings in NXP Semiconductors were worth $2,358,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in NXPI. Norges Bank bought a new position in shares of NXP Semiconductors during the 4th quarter valued at about $326,580,000. Moneta Group Investment Advisors LLC bought a new position in NXP Semiconductors during the fourth quarter valued at approximately $267,123,000. Price T Rowe Associates Inc. MD grew its position in NXP Semiconductors by 44.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,417,231 shares of the semiconductor provider’s stock valued at $823,704,000 after acquiring an additional 1,360,582 shares during the last quarter. Barclays PLC raised its stake in shares of NXP Semiconductors by 94.6% during the second quarter. Barclays PLC now owns 1,143,813 shares of the semiconductor provider’s stock worth $234,116,000 after acquiring an additional 556,178 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of NXP Semiconductors in the 1st quarter worth approximately $98,687,000. Institutional investors own 90.54% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on NXPI. TD Cowen lifted their target price on shares of NXP Semiconductors from $270.00 to $300.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 12th. Barclays raised NXP Semiconductors from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $200.00 to $260.00 in a research note on Tuesday, January 16th. Stifel Nicolaus raised their price target on NXP Semiconductors from $190.00 to $210.00 and gave the stock a “hold” rating in a research report on Tuesday, January 2nd. Truist Financial boosted their price objective on NXP Semiconductors from $264.00 to $265.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, Oppenheimer increased their price objective on NXP Semiconductors from $220.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen 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 an average target price of $242.29.

NXP Semiconductors Trading Down 1.9 %

NXPI stock traded down $4.23 during trading on Friday, reaching $215.12. The company had a trading volume of 2,758,204 shares, compared to its average volume of 2,331,023. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.91 and a quick ratio of 1.39. NXP Semiconductors has a 52 week low of $155.31 and a 52 week high of $264.26. The business has a 50 day moving average of $241.39 and a 200 day moving average of $218.52. The company has a market cap of $55.09 billion, a P/E ratio of 20.09, a PEG ratio of 0.86 and a beta of 1.59.

NXP Semiconductors (NASDAQ:NXPI) last posted its earnings results on Monday, February 5th. The semiconductor provider reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.04. The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.40 billion. NXP Semiconductors had a return on equity of 38.94% and a net margin of 21.07%. As a group, sell-side analysts forecast that NXP Semiconductors will post 12.28 earnings per share for the current fiscal year.

NXP Semiconductors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Thursday, March 21st were issued a $1.014 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $4.06 dividend on an annualized basis and a yield of 1.89%. NXP Semiconductors’s dividend payout ratio (DPR) is 37.82%.

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.