Westfield Capital Management Co. LP Sells 95,653 Shares of NXP Semiconductors (NASDAQ:NXPI)

Westfield Capital Management Co. LP cut its holdings in NXP Semiconductors (NASDAQ:NXPI) by 21.6% during the 3rd quarter, Holdings Channel reports. The firm owned 347,864 shares of the semiconductor provider’s stock after selling 95,653 shares during the period. Westfield Capital Management Co. LP’s holdings in NXP Semiconductors were worth $83,491,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NXPI. Family Firm Inc. purchased a new stake in NXP Semiconductors in the 2nd quarter worth approximately $27,000. Addison Advisors LLC raised its holdings in shares of NXP Semiconductors by 224.2% during the second quarter. Addison Advisors LLC now owns 107 shares of the semiconductor provider’s stock valued at $29,000 after acquiring an additional 74 shares in the last quarter. Valley National Advisers Inc. lifted its stake in NXP Semiconductors by 71.2% in the second quarter. Valley National Advisers Inc. now owns 125 shares of the semiconductor provider’s stock worth $33,000 after acquiring an additional 52 shares during the period. Beacon Capital Management LLC lifted its stake in NXP Semiconductors by 36.4% in the first quarter. Beacon Capital Management LLC now owns 150 shares of the semiconductor provider’s stock worth $37,000 after acquiring an additional 40 shares during the period. Finally, Fortitude Family Office LLC boosted its holdings in NXP Semiconductors by 615.0% in the second quarter. Fortitude Family Office LLC now owns 143 shares of the semiconductor provider’s stock valued at $38,000 after acquiring an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 90.54% of the company’s stock.

NXP Semiconductors Stock Performance

Shares of NXP Semiconductors stock opened at $226.38 on Friday. NXP Semiconductors has a 1 year low of $198.00 and a 1 year high of $296.08. The firm’s 50-day moving average is $233.53 and its 200 day moving average is $251.46. The stock has a market cap of $57.54 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 4.51 and a beta of 1.49. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.35 and a quick ratio of 1.60.

NXP Semiconductors (NASDAQ:NXPI) last issued its earnings results on Monday, November 4th. The semiconductor provider reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.02. NXP Semiconductors had a net margin of 20.98% and a return on equity of 33.57%. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the prior year, the firm posted $3.31 earnings per share. The business’s revenue was down 5.4% on a year-over-year basis. Sell-side analysts anticipate that NXP Semiconductors will post 11.37 EPS for the current fiscal year.

NXP Semiconductors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Thursday, December 5th will be paid a dividend of $1.014 per share. The ex-dividend date is Thursday, December 5th. This represents a $4.06 annualized dividend and a yield of 1.79%. NXP Semiconductors’s dividend payout ratio is 38.74%.

Analyst Ratings Changes

Several brokerages have commented on NXPI. Citic Securities assumed coverage on shares of NXP Semiconductors in a report on Friday, October 11th. They issued a $288.00 price objective for the company. Evercore ISI decreased their price target on shares of NXP Semiconductors from $370.00 to $315.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Truist Financial lowered their price objective on shares of NXP Semiconductors from $287.00 to $252.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. UBS Group reduced their target price on NXP Semiconductors from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, TD Cowen lowered their target price on NXP Semiconductors from $300.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, November 8th. One 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 stock. According to data from MarketBeat, NXP Semiconductors has a consensus rating of “Moderate Buy” and a consensus target price of $274.14.

Insiders Place Their Bets

In related news, EVP Jennifer Wuamett sold 3,500 shares of the 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 sale, the executive vice president now directly owns 30,269 shares of the company’s stock, valued at $7,033,002.15. This trade represents a 10.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.11% of the company’s stock.

NXP Semiconductors 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.