Drive Wealth Management LLC Sells 77 Shares of NXP Semiconductors (NASDAQ:NXPI)

Drive Wealth Management LLC decreased its holdings in shares of NXP Semiconductors (NASDAQ:NXPI) by 8.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 876 shares of the semiconductor provider’s stock after selling 77 shares during the quarter. Drive Wealth Management LLC’s holdings in NXP Semiconductors were worth $211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Van ECK Associates Corp lifted its holdings in NXP Semiconductors by 67.2% during the 3rd quarter. Van ECK Associates Corp now owns 3,041,129 shares of the semiconductor provider’s stock worth $718,680,000 after purchasing an additional 1,222,736 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of NXP Semiconductors by 5.1% in the second quarter. Ameriprise Financial Inc. now owns 2,428,779 shares of the semiconductor provider’s stock worth $653,567,000 after buying an additional 118,366 shares in the last quarter. Legal & General Group Plc boosted its position in shares of NXP Semiconductors by 1.6% in the second quarter. Legal & General Group Plc now owns 2,271,866 shares of the semiconductor provider’s stock valued at $611,336,000 after acquiring an additional 35,104 shares during the period. Bank of New York Mellon Corp grew its stake in NXP Semiconductors by 5.5% during the second quarter. Bank of New York Mellon Corp now owns 1,533,421 shares of the semiconductor provider’s stock valued at $412,628,000 after acquiring an additional 80,087 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in NXP Semiconductors by 13.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,086,245 shares of the semiconductor provider’s stock worth $292,246,000 after acquiring an additional 127,607 shares during the period. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Analysts Set New Price Targets

NXPI has been the subject of a number of recent analyst reports. Oppenheimer reduced their price target on shares of NXP Semiconductors from $330.00 to $300.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Morgan Stanley reduced their target price on NXP Semiconductors from $250.00 to $235.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 6th. Truist Financial lowered their price target on NXP Semiconductors from $287.00 to $252.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. StockNews.com lowered NXP Semiconductors from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Needham & Company LLC lowered their target price on shares of NXP Semiconductors from $300.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $276.76.

Insider Activity

In related news, EVP Jennifer Wuamett sold 3,500 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $232.35, for a total value of $813,225.00. Following the completion of the transaction, the executive vice president now directly owns 30,269 shares of the company’s stock, valued at $7,033,002.15. This represents a 10.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.11% of the company’s stock.

NXP Semiconductors Stock Performance

NASDAQ:NXPI opened at $220.19 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.60 and a current ratio of 2.35. NXP Semiconductors has a fifty-two week low of $198.00 and a fifty-two week high of $296.08. The business has a 50 day moving average price of $233.94 and a 200-day moving average price of $252.43. The firm has a market cap of $55.96 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 4.36 and a beta of 1.49.

NXP Semiconductors (NASDAQ:NXPI) last released its quarterly earnings data on Monday, November 4th. The semiconductor provider reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.02. The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.25 billion. NXP Semiconductors had a net margin of 20.98% and a return on equity of 33.57%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.31 earnings per share. Equities research analysts predict that NXP Semiconductors will post 11.37 earnings per share for the current year.

NXP Semiconductors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Thursday, September 12th were given a $1.014 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.84%. NXP Semiconductors’s dividend payout ratio is currently 38.74%.

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.