Patriot Investment Management Group Inc. Cuts Stock Holdings in NXP Semiconductors (NASDAQ:NXPI)

Patriot Investment Management Group Inc. decreased its stake in shares of NXP Semiconductors (NASDAQ:NXPI) by 16.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,547 shares of the semiconductor provider’s stock after selling 302 shares during the period. Patriot Investment Management Group Inc.’s holdings in NXP Semiconductors were worth $416,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Future Financial Wealth Managment LLC purchased a new position in shares of NXP Semiconductors during the first quarter valued at approximately $25,000. FinTrust Capital Advisors LLC boosted its position in NXP Semiconductors by 75.4% in the fourth quarter. FinTrust Capital Advisors LLC now owns 114 shares of the semiconductor provider’s stock worth $26,000 after purchasing an additional 49 shares during the last quarter. LifeSteps Financial Inc. purchased a new position in NXP Semiconductors in the first quarter worth $30,000. ICA Group Wealth Management LLC purchased a new position in NXP Semiconductors in the fourth quarter worth $33,000. Finally, Rise Advisors LLC purchased a new position in NXP Semiconductors in the first quarter worth $35,000. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Analysts Set New Price Targets

NXPI has been the topic of several research analyst reports. Needham & Company LLC boosted their price objective on NXP Semiconductors from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Barclays boosted their target price on NXP Semiconductors from $280.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Evercore ISI boosted their target price on NXP Semiconductors from $300.00 to $370.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $350.00 target price on shares of NXP Semiconductors in a research note on Tuesday, July 23rd. Finally, The Goldman Sachs Group boosted their target price on NXP Semiconductors from $240.00 to $275.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $294.89.

Insider Activity

In other news, CEO Kurt Sievers sold 8,548 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $275.75, for a total value of $2,357,111.00. Following the completion of the transaction, the chief executive officer now owns 177,889 shares in the company, valued at approximately $49,052,891.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other NXP Semiconductors news, CEO Kurt Sievers sold 8,548 shares of NXP Semiconductors stock in a transaction on Monday, June 10th. The stock was sold at an average price of $275.75, for a total transaction of $2,357,111.00. Following the completion of the transaction, the chief executive officer now owns 177,889 shares in the company, valued at $49,052,891.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Julie Southern acquired 146 shares of the stock in a transaction on Tuesday, July 30th. The shares were bought at an average price of $257.54 per share, with a total value of $37,600.84. Following the purchase, the insider now directly owns 11,297 shares of the company’s stock, valued at approximately $2,909,429.38. The disclosure for this purchase can be found here. 0.11% of the stock is currently owned by company insiders.

NXP Semiconductors Trading Down 0.8 %

NXPI traded down $1.86 on Monday, hitting $240.16. 2,298,922 shares of the company were exchanged, compared to its average volume of 2,265,022. The firm has a fifty day simple moving average of $266.26 and a two-hundred day simple moving average of $252.34. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.52 and a current ratio of 2.21. NXP Semiconductors has a 12 month low of $167.21 and a 12 month high of $296.08. The stock has a market capitalization of $61.41 billion, a PE ratio of 22.35, a price-to-earnings-growth ratio of 2.63 and a beta of 1.49.

NXP Semiconductors (NASDAQ:NXPI) last issued its quarterly earnings data on Monday, July 22nd. The semiconductor provider reported $3.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.38. The firm had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.13 billion. NXP Semiconductors had a return on equity of 35.65% and a net margin of 21.21%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period last year, the company earned $3.04 EPS. Sell-side analysts expect that NXP Semiconductors will post 12 earnings per share for the current year.

NXP Semiconductors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Thursday, June 13th were given a $1.014 dividend. The ex-dividend date was Thursday, June 13th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.69%. NXP Semiconductors’s dividend payout ratio is currently 37.40%.

NXP Semiconductors Company Profile

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.