Sandy Spring Bank cut its holdings in shares of NXP Semiconductors (NASDAQ:NXPI – Get Rating) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,765 shares of the semiconductor provider's stock after selling 115 shares during the period. Sandy Spring Bank's holdings in NXP Semiconductors were worth $1,298,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. Tower Bridge Advisors grew its position in NXP Semiconductors by 0.8% in the 2nd quarter. Tower Bridge Advisors now owns 16,317 shares of the semiconductor provider's stock valued at $2,415,000 after buying an additional 129 shares during the last quarter. Tufton Capital Management grew its position in NXP Semiconductors by 0.3% in the 2nd quarter. Tufton Capital Management now owns 38,219 shares of the semiconductor provider's stock valued at $5,657,000 after buying an additional 100 shares during the last quarter. Sather Financial Group Inc grew its position in NXP Semiconductors by 2.0% in the 2nd quarter. Sather Financial Group Inc now owns 181,713 shares of the semiconductor provider's stock valued at $26,899,000 after buying an additional 3,486 shares during the last quarter. Exchange Traded Concepts LLC grew its position in NXP Semiconductors by 2,399.5% in the 2nd quarter. Exchange Traded Concepts LLC now owns 20,696 shares of the semiconductor provider's stock valued at $3,064,000 after buying an additional 19,868 shares during the last quarter. Finally, F M Investments LLC grew its position in NXP Semiconductors by 7.7% in the 2nd quarter. F M Investments LLC now owns 10,552 shares of the semiconductor provider's stock valued at $2,171,000 after buying an additional 756 shares during the last quarter. 88.25% of the stock is currently owned by hedge funds and other institutional investors.
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Wall Street Analyst Weigh In
NXPI has been the topic of a number of analyst reports. Wells Fargo & Company lowered their price objective on shares of NXP Semiconductors from $240.00 to $200.00 and set an "overweight" rating on the stock in a research report on Monday, July 11th. Bank of America reduced their target price on NXP Semiconductors from $220.00 to $190.00 and set a "buy" rating for the company in a report on Wednesday, June 29th. Cowen raised their target price on NXP Semiconductors from $190.00 to $200.00 in a report on Wednesday, July 27th. Deutsche Bank Aktiengesellschaft reduced their target price on NXP Semiconductors from $225.00 to $195.00 in a report on Wednesday, July 20th. Finally, Barclays reduced their target price on NXP Semiconductors from $220.00 to $200.00 and set an "overweight" rating for the company in a report on Tuesday, June 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, NXP Semiconductors presently has an average rating of "Moderate Buy" and a consensus target price of $200.50.
NXP Semiconductors Price Performance
NASDAQ:NXPI opened at $147.51 on Monday. The firm has a market cap of $38.74 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 0.53 and a beta of 1.48. The company has a current ratio of 2.15, a quick ratio of 1.65 and a debt-to-equity ratio of 1.54. The company's 50-day moving average is $169.88 and its two-hundred day moving average is $171.92. NXP Semiconductors has a 12-month low of $140.33 and a 12-month high of $239.91.
NXP Semiconductors (NASDAQ:NXPI – Get Rating) last released its earnings results on Monday, July 25th. The semiconductor provider reported $4.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.05 by $1.35. The company had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.27 billion. NXP Semiconductors had a net margin of 19.83% and a return on equity of 49.45%. The firm's quarterly revenue was up 27.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.05 EPS. Research analysts expect that NXP Semiconductors will post 12.72 EPS for the current year.
NXP Semiconductors Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Thursday, September 15th will be issued a $0.845 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $3.38 dividend on an annualized basis and a yield of 2.29%. NXP Semiconductors's dividend payout ratio (DPR) is 36.90%.
NXP Semiconductors Company Profile
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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.
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