Short Interest in NXP Semiconductors NV (NXPI) Declines By 24.9%
NXP Semiconductors NV (NASDAQ:NXPI) was the recipient of a significant drop in short interest in November. As of November 15th, there was short interest totalling 3,402,874 shares, a drop of 24.9% from the October 31st total of 4,529,701 shares. Approximately 1.0% of the company’s shares are sold short. Based on an average daily volume of 5,381,136 shares, the days-to-cover ratio is currently 0.6 days.
NXPI has been the topic of a number of recent research reports. Morgan Stanley lowered NXP Semiconductors NV from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $109.00 to $110.00 in a research note on Friday, October 28th. Needham & Company LLC cut their price target on NXP Semiconductors NV from $110.00 to $47.00 in a research note on Friday, October 28th. Canaccord Genuity reissued a “buy” rating and set a $120.00 price target on shares of NXP Semiconductors NV in a research note on Saturday, October 15th. TheStreet raised NXP Semiconductors NV from a “hold” rating to a “buy” rating in a research note on Monday, August 15th. Finally, Nomura reissued a “buy” rating and set a $95.00 price target on shares of NXP Semiconductors NV in a research note on Wednesday, September 14th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $105.39.
Large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in NXP Semiconductors NV by 31.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 46,265,407 shares of the semiconductor provider’s stock valued at $4,719,534,000 after buying an additional 11,127,133 shares during the period. Blackstone Group L.P. acquired a new stake in NXP Semiconductors NV during the second quarter valued at $868,922,000. Jennison Associates LLC boosted its stake in NXP Semiconductors NV by 3.4% in the third quarter. Jennison Associates LLC now owns 9,789,636 shares of the semiconductor provider’s stock valued at $998,641,000 after buying an additional 319,862 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in NXP Semiconductors NV by 2.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 4,533,573 shares of the semiconductor provider’s stock valued at $462,470,000 after buying an additional 114,330 shares during the period. Finally, Lazard Asset Management LLC raised its position in shares of NXP Semiconductors NV by 10.5% in the third quarter. Lazard Asset Management LLC now owns 3,924,580 shares of the semiconductor provider’s stock valued at $400,345,000 after buying an additional 372,232 shares in the last quarter. Institutional investors and hedge funds own 84.10% of the company’s stock.
NXP Semiconductors NV (NASDAQ:NXPI) opened at 98.85 on Wednesday. NXP Semiconductors NV has a 52-week low of $61.61 and a 52-week high of $107.54. The firm has a 50-day moving average price of $99.73 and a 200 day moving average price of $89.77. The stock has a market cap of $24.89 billion, a PE ratio of 48.89 and a beta of 1.49.
NXP Semiconductors NV (NASDAQ:NXPI) last released its quarterly earnings data on Wednesday, October 26th. The semiconductor provider reported $0.26 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.34. NXP Semiconductors NV had a return on equity of 11.56% and a net margin of 7.53%. The business earned $2.47 billion during the quarter, compared to analysts’ expectations of $3.08 million. During the same quarter last year, the business posted $1.57 EPS. The business’s revenue was up 62.2% on a year-over-year basis. On average, analysts forecast that NXP Semiconductors NV will post ($0.19) earnings per share for the current fiscal year.
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About NXP Semiconductors NV
NXP Semiconductors N.V. (NXP) is a holding company. The Company operates as a semiconductor company and a long-standing supplier. The Company provides high performance mixed signal and standard product solutions. The Company’s segments include High Performance Mixed Signal (HPMS), Standard Products (SP), and Corporate and Other.
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