HITE Hedge Asset Management LLC Sells 33,350 Shares of NXP Semiconductors N.V. $NXPI

HITE Hedge Asset Management LLC cut its holdings in shares of NXP Semiconductors N.V. (NASDAQ:NXPI) by 88.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,324 shares of the semiconductor provider’s stock after selling 33,350 shares during the period. HITE Hedge Asset Management LLC’s holdings in NXP Semiconductors were worth $939,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of NXPI. MCF Advisors LLC boosted its position in shares of NXP Semiconductors by 25.3% during the 4th quarter. MCF Advisors LLC now owns 213 shares of the semiconductor provider’s stock worth $46,000 after purchasing an additional 43 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of NXP Semiconductors by 0.6% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,426 shares of the semiconductor provider’s stock worth $1,829,000 after purchasing an additional 50 shares in the last quarter. IHT Wealth Management LLC boosted its position in shares of NXP Semiconductors by 4.6% during the 2nd quarter. IHT Wealth Management LLC now owns 1,193 shares of the semiconductor provider’s stock worth $261,000 after purchasing an additional 52 shares in the last quarter. Washington Capital Management Inc. boosted its position in shares of NXP Semiconductors by 1.8% during the 4th quarter. Washington Capital Management Inc. now owns 3,035 shares of the semiconductor provider’s stock worth $659,000 after purchasing an additional 55 shares in the last quarter. Finally, Equitable Trust Co. boosted its position in shares of NXP Semiconductors by 0.7% during the 4th quarter. Equitable Trust Co. now owns 7,706 shares of the semiconductor provider’s stock worth $1,673,000 after purchasing an additional 56 shares in the last quarter. 90.54% of the stock is currently owned by institutional investors.

NXP Semiconductors Trading Up 0.8%

NXPI opened at $304.86 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.24 and a quick ratio of 1.55. NXP Semiconductors N.V. has a fifty-two week low of $183.00 and a fifty-two week high of $339.95. The firm has a market capitalization of $76.97 billion, a PE ratio of 29.17, a P/E/G ratio of 1.09 and a beta of 1.77. The company’s 50-day moving average is $270.67 and its 200 day moving average is $238.24.

NXP Semiconductors (NASDAQ:NXPI) last posted its earnings results on Wednesday, April 29th. The semiconductor provider reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.98 by $0.07. NXP Semiconductors had a net margin of 21.03% and a return on equity of 26.75%. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the prior year, the business posted $2.64 EPS. The firm’s revenue was up 12.2% compared to the same quarter last year. As a group, research analysts predict that NXP Semiconductors N.V. will post 13.38 earnings per share for the current fiscal year.

NXP Semiconductors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 24th will be issued a $1.014 dividend. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, June 24th. NXP Semiconductors’s dividend payout ratio is currently 38.85%.

Analyst Ratings Changes

A number of research firms have recently issued reports on NXPI. Wolfe Research increased their price objective on shares of NXP Semiconductors from $270.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Loop Capital increased their price objective on shares of NXP Semiconductors from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of NXP Semiconductors in a research report on Wednesday, April 29th. Needham & Company LLC increased their price objective on shares of NXP Semiconductors from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Morgan Stanley upped their target price on shares of NXP Semiconductors from $299.00 to $335.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, NXP Semiconductors has an average rating of “Moderate Buy” and a consensus price target of $295.92.

Insider Buying and Selling

In related news, EVP Christopher L. Jensen sold 1,746 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $316.53, for a total value of $552,661.38. Following the sale, the executive vice president owned 3,643 shares in the company, valued at $1,153,118.79. This represents a 32.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Hardy sold 5,289 shares of the stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $235.00, for a total transaction of $1,242,915.00. Following the completion of the sale, the executive vice president owned 2,020 shares of the company’s stock, valued at approximately $474,700. This trade represents a 72.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,611 shares of company stock worth $3,061,078 in the last quarter. Insiders own 0.05% of the company’s stock.

NXP Semiconductors Company Profile

NXP Semiconductors N.V. is a global semiconductor company headquartered in Eindhoven, the Netherlands, that designs and supplies mixed-signal and standard product solutions for a broad range of end markets. The company focuses on enabling secure connections and infrastructure for embedded applications, developing technologies used across automotive, industrial and Internet of Things (IoT), mobile, and communication infrastructure segments. NXP’s offerings target customers that require reliable, secure, and high-performance semiconductor components for connected devices and systems.

Product lines include microcontrollers and application processors, secure elements and authentication technologies, RF and high-power analog components, connectivity solutions, and vehicle networking and infotainment systems.