Bank of Montreal Can Cuts Stock Position in NXP Semiconductors (NASDAQ:NXPI)

Bank of Montreal Can trimmed its stake in NXP Semiconductors (NASDAQ:NXPI) by 28.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 413,687 shares of the semiconductor provider’s stock after selling 164,459 shares during the quarter. Bank of Montreal Can’s holdings in NXP Semiconductors were worth $101,324,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Family Firm Inc. purchased a new stake in NXP Semiconductors during the 2nd quarter valued at $27,000. Addison Advisors LLC raised its position in NXP Semiconductors by 224.2% in the 2nd quarter. Addison Advisors LLC now owns 107 shares of the semiconductor provider’s stock worth $29,000 after buying an additional 74 shares during the last quarter. Valley National Advisers Inc. lifted its stake in NXP Semiconductors by 71.2% during the 2nd quarter. Valley National Advisers Inc. now owns 125 shares of the semiconductor provider’s stock valued at $33,000 after acquiring an additional 52 shares during the period. Fortitude Family Office LLC grew its stake in shares of NXP Semiconductors by 615.0% in the second quarter. Fortitude Family Office LLC now owns 143 shares of the semiconductor provider’s stock worth $38,000 after acquiring an additional 123 shares during the period. Finally, Beacon Capital Management LLC lifted its position in NXP Semiconductors by 36.4% during the first quarter. Beacon Capital Management LLC now owns 150 shares of the semiconductor provider’s stock valued at $37,000 after purchasing an additional 40 shares during the period. 90.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NXPI. Wells Fargo & Company began coverage on shares of NXP Semiconductors in a research note on Friday, November 22nd. They set an “overweight” rating and a $250.00 target price for the company. Needham & Company LLC lowered their target price on NXP Semiconductors from $300.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Mizuho set a $290.00 price target on NXP Semiconductors in a research note on Friday, October 18th. Evercore ISI lowered their price objective on shares of NXP Semiconductors from $370.00 to $315.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group cut their target price on shares of NXP Semiconductors from $285.00 to $277.00 in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, NXP Semiconductors currently has an average rating of “Moderate Buy” and an average target price of $274.14.

Insider Buying and Selling at NXP Semiconductors

In other news, EVP Jennifer Wuamett sold 3,500 shares of NXP Semiconductors stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $232.35, for a total transaction of $813,225.00. Following the completion of the sale, the executive vice president now directly owns 30,269 shares in the company, valued at approximately $7,033,002.15. This trade represents a 10.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.11% of the company’s stock.

NXP Semiconductors Price Performance

NASDAQ:NXPI opened at $228.66 on Wednesday. The company has a market capitalization of $58.12 billion, a P/E ratio of 21.82, a P/E/G ratio of 4.70 and a beta of 1.49. The business’s 50-day moving average is $233.53 and its 200 day moving average is $250.98. The company has a current ratio of 2.35, a quick ratio of 1.60 and a debt-to-equity ratio of 0.99. NXP Semiconductors has a 12 month low of $198.00 and a 12 month high of $296.08.

NXP Semiconductors (NASDAQ:NXPI) last released its earnings results on Monday, November 4th. The semiconductor provider reported $3.45 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.02. NXP Semiconductors had a return on equity of 33.57% and a net margin of 20.98%. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the previous year, the company posted $3.31 EPS. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, equities research analysts forecast that NXP Semiconductors will post 11.37 earnings per share for the current fiscal year.

NXP Semiconductors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Thursday, December 5th will be paid a $1.014 dividend. This represents a $4.06 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Thursday, December 5th. NXP Semiconductors’s payout ratio is currently 38.74%.

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.