Bank of Nova Scotia Sells 5,720 Shares of NXP Semiconductors N.V. (NASDAQ:NXPI)

Key Points

• Bank of Nova Scotia has reduced its stake in NXP Semiconductors N.V. by 12.0%, selling 5,720 shares during the first quarter, bringing its ownership down to 41,859 shares worth approximately $7.96 million.
• Insider trading activity revealed that CFO William Betz and EVP Jennifer Wuamett both sold a significant number of shares, resulting in an 81.70% and 25.21% decrease in their respective ownership stakes.
• Analysts have set new price targets for NXP Semiconductors, with recommendations ranging from $220.00 to $275.00, and a current consensus rating of "Moderate Buy" with a price target of $256.05.

Bank of Nova Scotia lowered its stake in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 12.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,859 shares of the semiconductor provider's stock after selling 5,720 shares during the quarter. Bank of Nova Scotia's holdings in NXP Semiconductors were worth $7,956,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. bought a new stake in NXP Semiconductors during the 4th quarter worth about $44,000. Valley National Advisers Inc. raised its holdings in NXP Semiconductors by 118.9% during the 1st quarter. Valley National Advisers Inc. now owns 232 shares of the semiconductor provider's stock worth $43,000 after purchasing an additional 126 shares during the last quarter. Rossby Financial LCC bought a new stake in NXP Semiconductors during the 1st quarter worth about $46,000. GoalVest Advisory LLC raised its holdings in NXP Semiconductors by 472.9% during the 1st quarter. GoalVest Advisory LLC now owns 275 shares of the semiconductor provider's stock worth $52,000 after purchasing an additional 227 shares during the last quarter. Finally, Cullen Frost Bankers Inc. raised its holdings in NXP Semiconductors by 112.1% during the 1st quarter. Cullen Frost Bankers Inc. now owns 316 shares of the semiconductor provider's stock worth $60,000 after purchasing an additional 167 shares during the last quarter. 90.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO William Betz sold 6,785 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $227.34, for a total value of $1,542,501.90. Following the completion of the sale, the chief financial officer directly owned 1,520 shares of the company's stock, valued at $345,556.80. This trade represents a 81.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jennifer Wuamett sold 9,132 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $230.00, for a total value of $2,100,360.00. Following the completion of the sale, the executive vice president directly owned 27,088 shares of the company's stock, valued at approximately $6,230,240. The trade was a 25.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.12% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on NXPI. Morgan Stanley set a $229.00 price objective on NXP Semiconductors in a report on Monday, April 21st. KeyCorp boosted their target price on NXP Semiconductors from $240.00 to $275.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Truist Financial boosted their target price on NXP Semiconductors from $230.00 to $252.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Barclays boosted their target price on NXP Semiconductors from $190.00 to $220.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. boosted their target price on NXP Semiconductors from $205.00 to $240.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, NXP Semiconductors presently has a consensus rating of "Moderate Buy" and a consensus price target of $256.05.

NXP Semiconductors Stock Up 1.0%

NXPI stock opened at $211.99 on Tuesday. The company has a quick ratio of 1.20, a current ratio of 1.74 and a debt-to-equity ratio of 0.99. The business has a 50 day moving average price of $217.24 and a two-hundred day moving average price of $206.81. The company has a market cap of $53.45 billion, a price-to-earnings ratio of 25.27, a P/E/G ratio of 2.38 and a beta of 1.41. NXP Semiconductors N.V. has a twelve month low of $148.09 and a twelve month high of $259.74.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The semiconductor provider reported $2.72 earnings per share for the quarter, beating analysts' consensus estimates of $2.66 by $0.06. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.90 billion. NXP Semiconductors had a return on equity of 27.99% and a net margin of 17.72%. The business's revenue was down 6.4% compared to the same quarter last year. During the same period last year, the company earned $3.20 earnings per share. Analysts anticipate that NXP Semiconductors N.V. will post 10.28 EPS for the current fiscal year.

NXP Semiconductors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 25th were given a $1.014 dividend. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, June 25th. NXP Semiconductors's dividend payout ratio (DPR) is presently 48.39%.

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.

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