56,018 Shares in NXP Semiconductors (NASDAQ:NXPI) Purchased by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC bought a new position in shares of NXP Semiconductors (NASDAQ:NXPI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 56,018 shares of the semiconductor provider’s stock, valued at approximately $13,445,000. NXP Semiconductors comprises 1.5% of HITE Hedge Asset Management LLC’s portfolio, making the stock its 23rd biggest holding.

A number of other hedge funds have also made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in NXP Semiconductors by 387.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,294,340 shares of the semiconductor provider’s stock worth $550,665,000 after acquiring an additional 1,823,650 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of NXP Semiconductors by 67.2% in the third quarter. Van ECK Associates Corp now owns 3,041,129 shares of the semiconductor provider’s stock valued at $718,680,000 after buying an additional 1,222,736 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of NXP Semiconductors by 337.2% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 939,924 shares of the semiconductor provider’s stock worth $225,591,000 after buying an additional 724,951 shares in the last quarter. International Assets Investment Management LLC lifted its stake in NXP Semiconductors by 24,533.2% in the 3rd quarter. International Assets Investment Management LLC now owns 514,341 shares of the semiconductor provider’s stock valued at $123,447,000 after purchasing an additional 512,253 shares during the last quarter. Finally, Ceredex Value Advisors LLC acquired a new stake in shares of NXP Semiconductors during the third quarter worth $84,901,000. Hedge funds and other institutional investors own 90.54% of the company’s stock.

NXP Semiconductors Trading Up 1.8 %

Shares of NXP Semiconductors stock opened at $233.61 on Tuesday. The business’s fifty day moving average is $233.14 and its two-hundred day moving average is $250.13. The company has a quick ratio of 1.60, a current ratio of 2.35 and a debt-to-equity ratio of 0.99. NXP Semiconductors has a fifty-two week low of $201.58 and a fifty-two week high of $296.08. The firm has a market cap of $59.37 billion, a PE ratio of 22.29, a P/E/G ratio of 4.62 and a beta of 1.46.

NXP Semiconductors (NASDAQ:NXPI) last posted its quarterly earnings data on Monday, November 4th. The semiconductor provider reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.02. The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.25 billion. NXP Semiconductors had a net margin of 20.98% and a return on equity of 33.57%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.31 EPS. Analysts anticipate that NXP Semiconductors will post 11.33 earnings per share for the current year.

NXP Semiconductors Dividend Announcement

The firm 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 1.74%. The ex-dividend date of this dividend is Thursday, December 5th. NXP Semiconductors’s dividend payout ratio (DPR) is 38.74%.

Wall Street Analyst Weigh In

NXPI has been the subject of several recent research reports. The Goldman Sachs Group reduced their target price on shares of NXP Semiconductors from $285.00 to $277.00 in a research note on Friday, October 11th. Mizuho set a $290.00 target price on shares of NXP Semiconductors in a research note on Friday, October 18th. UBS Group lowered their price target on NXP Semiconductors from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Oppenheimer cut their target price on NXP Semiconductors from $330.00 to $300.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Finally, Loop Capital initiated coverage on NXP Semiconductors in a report on Monday, November 11th. They issued a “buy” rating and a $300.00 price target for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, NXP Semiconductors currently has a consensus rating of “Moderate Buy” and an average target price of $274.14.

Insider Buying and Selling at NXP Semiconductors

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

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.