Klingenstein Fields & Co. LP Lowers Stock Holdings in NXP Semiconductors (NASDAQ:NXPI)

Klingenstein Fields & Co. LP cut its holdings in NXP Semiconductors (NASDAQ:NXPI) by 0.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 171,757 shares of the semiconductor provider’s stock after selling 1,005 shares during the quarter. NXP Semiconductors accounts for 1.6% of Klingenstein Fields & Co. LP’s investment portfolio, making the stock its 19th largest position. Klingenstein Fields & Co. LP owned about 0.07% of NXP Semiconductors worth $41,223,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Old North State Wealth Management LLC grew its stake in NXP Semiconductors by 46.1% in the 3rd quarter. Old North State Wealth Management LLC now owns 1,452 shares of the semiconductor provider’s stock valued at $349,000 after acquiring an additional 458 shares during the period. Van ECK Associates Corp lifted its holdings in NXP Semiconductors by 67.2% during the third quarter. Van ECK Associates Corp now owns 3,041,129 shares of the semiconductor provider’s stock valued at $718,680,000 after purchasing an additional 1,222,736 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of NXP Semiconductors by 1.7% in the third quarter. Janney Montgomery Scott LLC now owns 209,549 shares of the semiconductor provider’s stock valued at $50,294,000 after purchasing an additional 3,408 shares during the period. Visionary Horizons LLC increased its stake in shares of NXP Semiconductors by 8.2% during the third quarter. Visionary Horizons LLC now owns 2,214 shares of the semiconductor provider’s stock worth $531,000 after purchasing an additional 167 shares in the last quarter. Finally, Ceredex Value Advisors LLC purchased a new stake in shares of NXP Semiconductors during the third quarter worth about $84,901,000. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

NXP Semiconductors Price Performance

Shares of NXPI opened at $239.00 on Monday. The firm has a 50-day simple moving average of $237.56 and a two-hundred day simple moving average of $253.15. The stock has a market cap of $60.88 billion, a PE ratio of 22.30, a P/E/G ratio of 2.54 and a beta of 1.49. NXP Semiconductors has a 1-year low of $178.19 and a 1-year high of $296.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.21 and a quick ratio of 1.52.

NXP Semiconductors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Thursday, September 12th were given a $1.014 dividend. This represents a $4.06 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Thursday, September 12th. NXP Semiconductors’s payout ratio is 37.94%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. TD Cowen reduced their target price on NXP Semiconductors from $330.00 to $310.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. UBS Group raised shares of NXP Semiconductors from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $275.00 to $285.00 in a research note on Monday, October 7th. Stifel Nicolaus dropped their target price on shares of NXP Semiconductors from $275.00 to $260.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Needham & Company LLC raised their price target on shares of NXP Semiconductors from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Morgan Stanley dropped their price objective on shares of NXP Semiconductors from $275.00 to $271.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, NXP Semiconductors has an average rating of “Moderate Buy” and a consensus target price of $288.90.

Insider Buying and Selling at NXP Semiconductors

In other news, EVP Jennifer Wuamett sold 3,500 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $232.35, for a total transaction of $813,225.00. Following the completion of the transaction, the executive vice president now directly owns 30,269 shares in the company, valued at $7,033,002.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.11% of the stock is owned by corporate insiders.

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.