Cornercap Investment Counsel Inc. Reduces Holdings in NXP Semiconductors (NASDAQ:NXPI)

Cornercap Investment Counsel Inc. reduced its position in NXP Semiconductors (NASDAQ:NXPI) by 42.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,907 shares of the semiconductor provider’s stock after selling 2,153 shares during the period. Cornercap Investment Counsel Inc.’s holdings in NXP Semiconductors were worth $698,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in NXPI. CIBC Asset Management Inc raised its position in NXP Semiconductors by 6.2% in the 3rd quarter. CIBC Asset Management Inc now owns 72,011 shares of the semiconductor provider’s stock valued at $17,283,000 after purchasing an additional 4,173 shares during the last quarter. Intellectus Partners LLC purchased a new stake in shares of NXP Semiconductors in the third quarter valued at about $836,000. Lifeworks Advisors LLC boosted its stake in shares of NXP Semiconductors by 6.6% during the third quarter. Lifeworks Advisors LLC now owns 8,050 shares of the semiconductor provider’s stock worth $1,932,000 after buying an additional 498 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of NXP Semiconductors by 3.7% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,022 shares of the semiconductor provider’s stock worth $1,685,000 after buying an additional 249 shares during the last quarter. Finally, Metis Global Partners LLC increased its position in NXP Semiconductors by 8.3% in the 3rd quarter. Metis Global Partners LLC now owns 12,206 shares of the semiconductor provider’s stock valued at $2,930,000 after acquiring an additional 933 shares during the period. 90.54% of the stock is owned by hedge funds and other institutional investors.

NXP Semiconductors Trading Down 3.1 %

NASDAQ:NXPI opened at $217.04 on Friday. NXP Semiconductors has a 52-week low of $198.00 and a 52-week high of $296.08. The company has a quick ratio of 1.60, a current ratio of 2.35 and a debt-to-equity ratio of 0.99. The stock has a fifty day simple moving average of $234.34 and a 200-day simple moving average of $252.88. The company has a market capitalization of $55.16 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 4.48 and a beta of 1.49.

NXP Semiconductors (NASDAQ:NXPI) last announced its earnings results on Monday, November 4th. The semiconductor provider reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.02. The company had revenue of $3.25 billion during 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 firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.31 earnings per share. On average, equities research analysts expect that NXP Semiconductors will post 11.37 earnings per share for the current fiscal year.

NXP Semiconductors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Thursday, September 12th were paid a $1.014 dividend. This represents a $4.06 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date was Thursday, September 12th. NXP Semiconductors’s payout ratio is currently 38.74%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $270.00 price objective on shares of NXP Semiconductors in a research report on Monday, November 4th. The Goldman Sachs Group decreased their price target on NXP Semiconductors from $285.00 to $277.00 in a report on Friday, October 11th. StockNews.com cut shares of NXP Semiconductors from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Needham & Company LLC reduced their target price on shares of NXP Semiconductors from $300.00 to $250.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus dropped their price target on shares of NXP Semiconductors from $275.00 to $260.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $276.76.

Insider Buying and Selling at NXP Semiconductors

In related news, EVP Jennifer Wuamett sold 3,500 shares of the business’s 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 owns 30,269 shares of the company’s stock, valued at approximately $7,033,002.15. The trade was a 10.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is owned by insiders.

About NXP Semiconductors

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.