NXP Semiconductors (NASDAQ:NXPI) saw a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 4,810,000 shares, a drop of 21.9% from the March 31st total of 6,160,000 shares. Based on an average trading volume of 4,090,000 shares, the days-to-cover ratio is currently 1.2 days. Currently, 1.8% of the company’s shares are sold short.
In other NXP Semiconductors news, EVP Reed David sold 28,033 shares of the stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $204.72, for a total value of $5,738,915.76. Following the completion of the transaction, the executive vice president now owns 2,545 shares in the company, valued at $521,012.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Christopher L. Jensen sold 1,900 shares of the stock in a transaction on Friday, February 5th. The stock was sold at an average price of $183.03, for a total value of $347,757.00. Following the completion of the transaction, the executive vice president now owns 1,211 shares of the company’s stock, valued at approximately $221,649.33. The disclosure for this sale can be found here. Insiders sold 87,241 shares of company stock valued at $17,264,884 in the last ninety days. 0.56% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of NXPI. Signaturefd LLC increased its stake in NXP Semiconductors by 11.5% during the 4th quarter. Signaturefd LLC now owns 1,952 shares of the semiconductor provider’s stock valued at $310,000 after purchasing an additional 201 shares in the last quarter. Artemis Investment Management LLP acquired a new position in shares of NXP Semiconductors in the 4th quarter valued at $13,059,000. Jupiter Asset Management Ltd. raised its stake in NXP Semiconductors by 91.4% in the 4th quarter. Jupiter Asset Management Ltd. now owns 7,572 shares of the semiconductor provider’s stock worth $1,204,000 after acquiring an additional 3,615 shares during the last quarter. Credit Agricole S A purchased a new position in NXP Semiconductors in the 4th quarter worth $5,853,000. Finally, Palisade Capital Management LLC NJ raised its stake in NXP Semiconductors by 48.7% in the 4th quarter. Palisade Capital Management LLC NJ now owns 6,870 shares of the semiconductor provider’s stock worth $1,092,000 after acquiring an additional 2,250 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.
NXP Semiconductors (NASDAQ:NXPI) last announced its quarterly earnings data on Sunday, April 25th. The semiconductor provider reported $2.20 earnings per share for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.01). NXP Semiconductors had a negative net margin of 1.70% and a positive return on equity of 17.16%. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the business earned ($0.08) EPS. The company’s quarterly revenue was up 28.6% compared to the same quarter last year. On average, equities research analysts forecast that NXP Semiconductors will post 4.69 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 5th. Stockholders of record on Monday, March 15th were given a $0.563 dividend. The ex-dividend date of this dividend was Friday, March 12th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.18%. This is an increase from NXP Semiconductors’s previous quarterly dividend of $0.38. NXP Semiconductors’s payout ratio is presently 27.99%.
Several equities analysts have recently weighed in on the company. Raymond James raised their price target on NXP Semiconductors from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday. BMO Capital Markets lifted their price objective on NXP Semiconductors from $142.00 to $168.00 and gave the stock a “market perform” rating in a report on Monday, February 1st. Truist lifted their price objective on NXP Semiconductors from $165.00 to $209.00 in a report on Friday, January 15th. KeyCorp lifted their price objective on NXP Semiconductors from $225.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $213.00 price objective (up from $190.00) on shares of NXP Semiconductors in a report on Wednesday, April 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $203.32.
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 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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