Short Interest in NXP Semiconductors (NASDAQ:NXPI) Drops By 24.9%

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 6,440,000 shares, a decrease of 24.9% from the March 15th total of 8,570,000 shares. Based on an average daily volume of 3,260,000 shares, the days-to-cover ratio is currently 2.0 days. Currently, 2.5% of the company's stock are sold short.

Insider Activity

In other NXP Semiconductors news, COO Andrew Micallef sold 1,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was 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 $1,808,504.08. This represents a 10.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.11% of the company's stock.

Institutional Investors Weigh In On NXP Semiconductors

Hedge funds and other institutional investors have recently bought and sold shares of the business. Merit Financial Group LLC bought a new stake in shares of NXP Semiconductors in the 4th quarter worth approximately $360,000. Strategic Financial Concepts LLC bought a new position in shares of NXP Semiconductors in the fourth quarter valued at $46,000. Austin Private Wealth LLC lifted its position in shares of NXP Semiconductors by 140.6% during the 4th quarter. Austin Private Wealth LLC now owns 3,198 shares of the semiconductor provider's stock valued at $665,000 after acquiring an additional 1,869 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of NXP Semiconductors by 2.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 98,558 shares of the semiconductor provider's stock worth $21,068,000 after acquiring an additional 2,609 shares in the last quarter. Finally, Czech National Bank grew its holdings in shares of NXP Semiconductors by 6.2% in the 4th quarter. Czech National Bank now owns 55,107 shares of the semiconductor provider's stock worth $11,454,000 after acquiring an additional 3,216 shares during the last quarter. 90.54% of the stock is currently owned by institutional investors.

NXP Semiconductors Price Performance

NXPI traded up $12.70 during trading on Thursday, reaching $193.57. The stock had a trading volume of 4,244,740 shares, compared to its average volume of 2,585,963. The stock has a 50 day moving average of $198.40 and a two-hundred day moving average of $213.76. The company has a quick ratio of 1.60, a current ratio of 2.36 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $49.09 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 3.01 and a beta of 1.40. NXP Semiconductors has a 1-year low of $148.09 and a 1-year high of $296.08.

NXP Semiconductors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 19th were paid a dividend of $1.014 per share. The ex-dividend date was Wednesday, March 19th. This represents a $4.06 annualized dividend and a yield of 2.10%. NXP Semiconductors's dividend payout ratio is currently 41.62%.

Analysts Set New Price Targets

NXPI has been the subject of a number of research reports. Truist Financial lifted their price objective on shares of NXP Semiconductors from $245.00 to $258.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Stifel Nicolaus lowered their price objective on shares of NXP Semiconductors from $210.00 to $170.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. JPMorgan Chase & Co. dropped their price objective on shares of NXP Semiconductors from $260.00 to $240.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. Citigroup decreased their target price on NXP Semiconductors from $290.00 to $220.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Finally, Needham & Company LLC dropped their price target on NXP Semiconductors from $250.00 to $230.00 and set a "buy" rating on the stock in a research report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $258.10.

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.