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

HITE Hedge Asset Management LLC purchased a new stake in NXP Semiconductors (NASDAQ:NXPI) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 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 investment portfolio, making the stock its 23rd biggest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Family Firm Inc. purchased a new position in NXP Semiconductors during the second quarter valued at approximately $27,000. Addison Advisors LLC raised its position in shares of NXP Semiconductors by 224.2% in the 2nd quarter. Addison Advisors LLC now owns 107 shares of the semiconductor provider’s stock valued at $29,000 after acquiring an additional 74 shares during the period. Valley National Advisers Inc. raised its holdings in shares of NXP Semiconductors by 71.2% in the second quarter. Valley National Advisers Inc. now owns 125 shares of the semiconductor provider’s stock valued at $33,000 after purchasing an additional 52 shares during the last quarter. FSA Wealth Management LLC bought a new position in NXP Semiconductors during the third quarter worth $33,000. Finally, Fortitude Family Office LLC lifted its position in NXP Semiconductors by 615.0% during the second quarter. Fortitude Family Office LLC now owns 143 shares of the semiconductor provider’s stock worth $38,000 after purchasing an additional 123 shares during the period. Hedge funds and other institutional investors own 90.54% of the company’s stock.

NXP Semiconductors Stock Performance

Shares of NXPI stock opened at $233.61 on Tuesday. NXP Semiconductors has a 12 month low of $201.58 and a 12 month high of $296.08. The stock has a market cap of $59.37 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 4.62 and a beta of 1.46. The company has a current ratio of 2.35, a quick ratio of 1.60 and a debt-to-equity ratio of 0.99. The company’s fifty day moving average price is $233.14 and its 200-day moving average price is $250.13.

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

NXP Semiconductors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Thursday, December 5th will be issued a $1.014 dividend. The ex-dividend date is Thursday, December 5th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.74%. NXP Semiconductors’s dividend payout ratio (DPR) is 38.74%.

Insider Transactions at NXP Semiconductors

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

Wall Street Analyst Weigh In

NXPI has been the topic of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $270.00 price objective on shares of NXP Semiconductors in a research report on Monday, November 4th. The Goldman Sachs Group decreased their price objective on NXP Semiconductors from $285.00 to $277.00 in a report on Friday, October 11th. Mizuho set a $290.00 price target on NXP Semiconductors in a report on Friday, October 18th. Truist Financial dropped their price objective on shares of NXP Semiconductors from $287.00 to $252.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, UBS Group reduced their price objective on shares of NXP Semiconductors from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, NXP Semiconductors has an average rating of “Moderate Buy” and an average price target of $274.14.

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.