Bank of New York Mellon Corp Cuts Stock Position in NXP Semiconductors N.V. $NXPI

Bank of New York Mellon Corp cut its position in NXP Semiconductors N.V. (NASDAQ:NXPI) by 2.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,221,203 shares of the semiconductor provider’s stock after selling 30,023 shares during the period. Bank of New York Mellon Corp’s holdings in NXP Semiconductors were worth $265,074,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of NXP Semiconductors by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 13,612,546 shares of the semiconductor provider’s stock valued at $2,954,739,000 after buying an additional 293,558 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of NXP Semiconductors by 11.9% during the third quarter. Wellington Management Group LLP now owns 12,583,718 shares of the semiconductor provider’s stock valued at $2,865,690,000 after buying an additional 1,333,920 shares during the last quarter. State Street Corp lifted its position in shares of NXP Semiconductors by 0.5% during the third quarter. State Street Corp now owns 10,988,061 shares of the semiconductor provider’s stock valued at $2,512,283,000 after buying an additional 53,261 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of NXP Semiconductors by 1.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,849,741 shares of the semiconductor provider’s stock valued at $1,703,865,000 after buying an additional 121,419 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of NXP Semiconductors by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 5,463,756 shares of the semiconductor provider’s stock valued at $1,180,572,000 after buying an additional 30,804 shares during the last quarter. 90.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Andrew Micallef sold 1,000 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $194.58, for a total value of $194,580.00. Following the transaction, the executive vice president owned 9,942 shares in the company, valued at approximately $1,934,514.36. This represents a 9.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrew Hardy sold 5,289 shares of the stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $235.00, for a total transaction of $1,242,915.00. Following the completion of the transaction, the executive vice president owned 2,020 shares in the company, valued at approximately $474,700. This trade represents a 72.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 12,611 shares of company stock worth $3,061,078. 0.05% of the stock is owned by company insiders.

NXP Semiconductors Stock Performance

Shares of NXP Semiconductors stock opened at $322.22 on Friday. The firm has a market capitalization of $81.35 billion, a P/E ratio of 30.83, a PEG ratio of 1.16 and a beta of 1.77. The company has a quick ratio of 1.55, a current ratio of 2.24 and a debt-to-equity ratio of 1.00. The company has a 50 day moving average price of $258.24 and a 200 day moving average price of $233.98. NXP Semiconductors N.V. has a 52 week low of $183.00 and a 52 week high of $339.95.

NXP Semiconductors (NASDAQ:NXPI) last announced its quarterly earnings data on Wednesday, April 29th. The semiconductor provider reported $3.05 EPS for the quarter, beating the consensus estimate of $2.98 by $0.07. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.14 billion. NXP Semiconductors had a net margin of 21.03% and a return on equity of 26.75%. NXP Semiconductors’s revenue was up 12.2% on a year-over-year basis. During the same period last year, the firm posted $2.64 EPS. Sell-side analysts expect that NXP Semiconductors N.V. will post 13.38 EPS for the current year.

NXP Semiconductors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Investors of record on Wednesday, March 25th were issued a $1.014 dividend. This represents a $4.06 annualized dividend and a yield of 1.3%. The ex-dividend date was Wednesday, March 25th. NXP Semiconductors’s dividend payout ratio is 38.85%.

Analyst Ratings Changes

Several analysts have commented on the stock. Mizuho increased their price target on shares of NXP Semiconductors from $188.00 to $200.00 and gave the company an “underperform” rating in a research report on Wednesday, April 29th. Sanford C. Bernstein increased their price target on shares of NXP Semiconductors from $240.00 to $270.00 and gave the company a “market perform” rating in a research report on Wednesday, April 29th. Wall Street Zen raised shares of NXP Semiconductors from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Wells Fargo & Company increased their price target on shares of NXP Semiconductors from $235.00 to $265.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 29th. Finally, Oppenheimer increased their price target on shares of NXP Semiconductors from $250.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $294.25.

NXP Semiconductors Profile

NXP Semiconductors N.V. is a global semiconductor company headquartered in Eindhoven, the Netherlands, that designs and supplies mixed-signal and standard product solutions for a broad range of end markets. The company focuses on enabling secure connections and infrastructure for embedded applications, developing technologies used across automotive, industrial and Internet of Things (IoT), mobile, and communication infrastructure segments. NXP’s offerings target customers that require reliable, secure, and high-performance semiconductor components for connected devices and systems.

Product lines include microcontrollers and application processors, secure elements and authentication technologies, RF and high-power analog components, connectivity solutions, and vehicle networking and infotainment systems.