Sterling Capital Management LLC Sells 5,969 Shares of NXP Semiconductors (NASDAQ:NXPI)

Sterling Capital Management LLC cut its stake in NXP Semiconductors (NASDAQ:NXPI) by 10.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,110 shares of the semiconductor provider’s stock after selling 5,969 shares during the period. Sterling Capital Management LLC’s holdings in NXP Semiconductors were worth $10,415,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Norges Bank bought a new position in NXP Semiconductors in the fourth quarter valued at approximately $672,224,000. Van ECK Associates Corp boosted its holdings in shares of NXP Semiconductors by 27.1% in the 4th quarter. Van ECK Associates Corp now owns 3,865,446 shares of the semiconductor provider’s stock valued at $803,432,000 after purchasing an additional 824,317 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of NXP Semiconductors by 1,172.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 555,189 shares of the semiconductor provider’s stock valued at $115,396,000 after purchasing an additional 511,553 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of NXP Semiconductors by 14.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 4,086,294 shares of the semiconductor provider’s stock worth $849,336,000 after buying an additional 500,413 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of NXP Semiconductors by 10.2% during the 4th quarter. Invesco Ltd. now owns 4,339,344 shares of the semiconductor provider’s stock worth $901,933,000 after buying an additional 402,672 shares during the last quarter. 90.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Citigroup upgraded NXP Semiconductors from a “neutral” rating to a “buy” rating and lifted their target price for the company from $210.00 to $290.00 in a research report on Thursday, February 20th. Susquehanna decreased their price target on shares of NXP Semiconductors from $235.00 to $225.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 target price on shares of NXP Semiconductors in a research report on Tuesday, February 4th. Morgan Stanley upgraded shares of NXP Semiconductors from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $231.00 to $257.00 in a report on Wednesday, February 12th. Finally, Truist Financial increased their price target on NXP Semiconductors from $245.00 to $258.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $267.00.

Insider Transactions at NXP Semiconductors

In related news, COO Andrew Micallef sold 1,000 shares of the firm’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 completion of the sale, the chief operating officer now owns 8,828 shares of the company’s stock, valued at $1,808,504.08. This trade represents a 10.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.11% of the company’s stock.

NXP Semiconductors Trading Down 10.9 %

NXPI opened at $165.59 on Friday. NXP Semiconductors has a twelve month low of $148.09 and a twelve month high of $296.08. The company has a fifty day moving average of $206.04 and a 200-day moving average of $217.66. The stock has a market cap of $42.00 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 3.01 and a beta of 1.40. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 19th were issued a dividend of $1.014 per share. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $4.06 dividend on an annualized basis and a yield of 2.45%. NXP Semiconductors’s payout ratio is currently 41.62%.

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.