Congress Asset Management Co. Lowers Stock Holdings in NXP Semiconductors (NASDAQ:NXPI)

Congress Asset Management Co. reduced its stake in NXP Semiconductors (NASDAQ:NXPI - Free Report) by 98.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,737 shares of the semiconductor provider's stock after selling 515,836 shares during the quarter. Congress Asset Management Co.'s holdings in NXP Semiconductors were worth $1,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Smithfield Trust Co purchased a new stake in NXP Semiconductors in the fourth quarter valued at approximately $32,000. Runnymede Capital Advisors Inc. purchased a new stake in NXP Semiconductors in the fourth quarter valued at approximately $32,000. Ameriflex Group Inc. purchased a new stake in NXP Semiconductors in the fourth quarter valued at approximately $44,000. Strategic Financial Concepts LLC purchased a new stake in NXP Semiconductors in the fourth quarter valued at approximately $46,000. Finally, GoalVest Advisory LLC raised its stake in NXP Semiconductors by 472.9% in the first quarter. GoalVest Advisory LLC now owns 275 shares of the semiconductor provider's stock valued at $52,000 after purchasing an additional 227 shares in the last quarter. 90.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NXP Semiconductors

In other news, COO Andrew Micallef sold 1,000 shares of the business's stock in a transaction 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 sale, the chief operating officer now owns 8,828 shares in the company, valued at approximately $1,808,504.08. The trade was a 10.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.12% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Morgan Stanley set a $229.00 target price on shares of NXP Semiconductors in a research note on Monday, April 21st. Truist Financial lifted their price target on shares of NXP Semiconductors from $245.00 to $258.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Stifel Nicolaus decreased their price target on shares of NXP Semiconductors from $210.00 to $170.00 and set a "hold" rating on the stock in a research note on Thursday, April 17th. Citigroup decreased their price target on shares of NXP Semiconductors from $290.00 to $220.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Arete Research raised shares of NXP Semiconductors to a "strong-buy" rating in a research note on Tuesday, March 25th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $246.22.

NXP Semiconductors Stock Performance

NASDAQ:NXPI opened at $207.68 on Monday. The stock has a market cap of $52.47 billion, a P/E ratio of 21.34, a price-to-earnings-growth ratio of 3.01 and a beta of 1.39. The firm's fifty day simple moving average is $187.90 and its 200 day simple moving average is $205.48. NXP Semiconductors has a twelve month low of $148.09 and a twelve month high of $296.08. The company has a quick ratio of 1.60, a current ratio of 2.36 and a debt-to-equity ratio of 1.09.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last released its quarterly 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. The business had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.83 billion. NXP Semiconductors had a net margin of 19.90% and a return on equity of 31.45%. The firm's revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.24 earnings per share. As a group, research analysts predict that NXP Semiconductors will post 10.28 EPS for the current year.

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.

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