Baker Avenue Asset Management LP Invests $388,000 in NXP Semiconductors (NASDAQ:NXPI)

Baker Avenue Asset Management LP acquired a new stake in NXP Semiconductors (NASDAQ:NXPI) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,865 shares of the semiconductor provider’s stock, valued at approximately $388,000.

Several other institutional investors have also added to or reduced their stakes in NXPI. FMR LLC raised its position in shares of NXP Semiconductors by 0.3% in the fourth quarter. FMR LLC now owns 25,084,729 shares of the semiconductor provider’s stock valued at $5,213,861,000 after purchasing an additional 86,716 shares during the period. Vanguard Group Inc. raised its holdings in NXP Semiconductors by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 13,322,338 shares of the semiconductor provider’s stock valued at $2,769,048,000 after acquiring an additional 99,667 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of NXP Semiconductors by 1.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,046,230 shares of the semiconductor provider’s stock worth $1,672,409,000 after acquiring an additional 144,391 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of NXP Semiconductors by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 5,242,415 shares of the semiconductor provider’s stock worth $1,088,094,000 after acquiring an additional 96,483 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of NXP Semiconductors by 6.0% in the fourth quarter. Franklin Resources Inc. now owns 4,729,345 shares of the semiconductor provider’s stock valued at $982,994,000 after purchasing an additional 269,656 shares in the last quarter. 90.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NXPI. Morgan Stanley set a $229.00 price objective on NXP Semiconductors in a report on Monday, April 21st. JPMorgan Chase & Co. cut their price objective on shares of NXP Semiconductors from $260.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. UBS Group lowered their target price on shares of NXP Semiconductors from $265.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Barclays reduced their price target on shares of NXP Semiconductors from $230.00 to $190.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Finally, Needham & Company LLC lowered their price objective on NXP Semiconductors from $230.00 to $225.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $250.37.

Insider Buying and Selling

In related news, COO Andrew Micallef sold 1,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $204.86, for a total value of $204,860.00. Following the sale, the chief operating officer now directly owns 8,828 shares of the company’s stock, valued at $1,808,504.08. This trade represents a 10.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is owned by insiders.

NXP Semiconductors Price Performance

NXPI stock opened at $184.95 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.60 and a current ratio of 2.36. The firm has a market cap of $46.91 billion, a P/E ratio of 19.01, a P/E/G ratio of 3.01 and a beta of 1.40. The firm’s fifty day moving average is $191.07 and its 200 day moving average is $210.79. NXP Semiconductors has a 52 week low of $148.09 and a 52 week high of $296.08.

NXP Semiconductors (NASDAQ:NXPI) last released its quarterly earnings data on Monday, April 28th. The semiconductor provider reported $2.64 EPS for the quarter, topping the consensus estimate of $2.59 by $0.05. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.83 billion. NXP Semiconductors had a return on equity of 31.45% and a net margin of 19.90%. The company’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.24 earnings per share. Research analysts predict that NXP Semiconductors will post 10.28 earnings per share for the current year.

NXP Semiconductors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 19th were issued a $1.014 dividend. This represents a $4.06 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Wednesday, March 19th. NXP Semiconductors’s dividend payout ratio is 44.12%.

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.