Assenagon Asset Management S.A. Reduces Holdings in NXP Semiconductors (NASDAQ:NXPI)

Assenagon Asset Management S.A. reduced its position in shares of NXP Semiconductors (NASDAQ:NXPI - Free Report) by 92.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,199 shares of the semiconductor provider's stock after selling 511,990 shares during the period. Assenagon Asset Management S.A.'s holdings in NXP Semiconductors were worth $8,210,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC lifted its holdings in NXP Semiconductors by 0.3% in the fourth quarter. FMR LLC now owns 25,084,729 shares of the semiconductor provider's stock worth $5,213,861,000 after buying an additional 86,716 shares during the period. Vanguard Group Inc. increased its position in shares of NXP Semiconductors by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 13,322,338 shares of the semiconductor provider's stock valued at $2,769,048,000 after acquiring an additional 99,667 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of NXP Semiconductors by 1.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,046,230 shares of the semiconductor provider's stock valued at $1,672,409,000 after acquiring an additional 144,391 shares in the last quarter. Geode Capital Management LLC grew its position in NXP Semiconductors by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,242,415 shares of the semiconductor provider's stock worth $1,088,094,000 after purchasing an additional 96,483 shares during the period. Finally, Franklin Resources Inc. grew its position in NXP Semiconductors by 6.0% in the 4th quarter. Franklin Resources Inc. now owns 4,729,345 shares of the semiconductor provider's stock worth $982,994,000 after purchasing an additional 269,656 shares during the period. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

NXP Semiconductors Price Performance

NASDAQ NXPI traded down $6.50 during trading hours on Friday, hitting $210.90. 1,839,860 shares of the company's stock traded hands, compared to its average volume of 2,729,182. NXP Semiconductors has a 52-week low of $148.09 and a 52-week high of $296.08. The company has a market capitalization of $53.28 billion, a PE ratio of 21.68, a PEG ratio of 3.01 and a beta of 1.39. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.36 and a quick ratio of 1.60. The firm's 50-day moving average is $192.58 and its 200-day moving average is $205.18.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last posted its earnings results on Monday, April 28th. The semiconductor provider reported $2.64 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.05. NXP Semiconductors had a net margin of 19.90% and a return on equity of 31.45%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same period in the previous year, the business posted $3.24 EPS. NXP Semiconductors's revenue was down 9.3% on a year-over-year basis. Equities analysts forecast that NXP Semiconductors will post 10.28 EPS for the current fiscal year.

NXP Semiconductors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 25th will be given a dividend of $1.014 per share. The ex-dividend date of this dividend is Wednesday, June 25th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.92%. NXP Semiconductors's payout ratio is 44.12%.

Insider Activity

In other news, COO Andrew Micallef sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $204.86, for a total transaction of $204,860.00. Following the completion of the transaction, the chief operating officer now directly owns 8,828 shares of the company's stock, valued at $1,808,504.08. This trade represents a 10.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.12% of the company's stock.

Wall Street Analyst Weigh In

NXPI has been the subject of a number of recent research reports. Truist Financial boosted their price objective on shares of NXP Semiconductors from $245.00 to $258.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Mizuho boosted their price target on shares of NXP Semiconductors from $240.00 to $255.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. TD Cowen boosted their price target on shares of NXP Semiconductors from $185.00 to $210.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Arete Research upgraded shares of NXP Semiconductors to a "strong-buy" rating in a research note on Tuesday, March 25th. Finally, UBS Group decreased their price target on shares of NXP Semiconductors from $265.00 to $250.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $244.78.

NXP Semiconductors 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.