Morse Asset Management Inc Sells 895 Shares of NXP Semiconductors (NASDAQ:NXPI)

Morse Asset Management Inc reduced its position in NXP Semiconductors (NASDAQ:NXPI) by 7.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 10,525 shares of the semiconductor provider’s stock after selling 895 shares during the period. Morse Asset Management Inc’s holdings in NXP Semiconductors were worth $2,188,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sound Income Strategies LLC raised its holdings in shares of NXP Semiconductors by 169.2% in the fourth quarter. Sound Income Strategies LLC now owns 140 shares of the semiconductor provider’s stock valued at $29,000 after acquiring an additional 88 shares in the last quarter. Smithfield Trust Co bought a new stake in shares of NXP Semiconductors in the fourth quarter valued at about $32,000. Runnymede Capital Advisors Inc. bought a new position in NXP Semiconductors in the fourth quarter worth about $32,000. Brooklyn Investment Group raised its holdings in NXP Semiconductors by 69.5% in the fourth quarter. Brooklyn Investment Group now owns 161 shares of the semiconductor provider’s stock worth $33,000 after purchasing an additional 66 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new position in NXP Semiconductors in the fourth quarter worth about $46,000. 90.54% of the stock is currently owned by institutional investors.

NXP Semiconductors Price Performance

Shares of NASDAQ NXPI opened at $207.03 on Tuesday. The business’s 50 day moving average price is $188.67 and its 200 day moving average price is $209.23. The firm has a market cap of $52.30 billion, a P/E ratio of 21.28, a P/E/G ratio of 3.01 and a beta of 1.38. NXP Semiconductors has a 52 week low of $148.09 and a 52 week high of $296.08. The company has a quick ratio of 1.60, a current ratio of 2.36 and a debt-to-equity ratio of 1.09.

NXP Semiconductors (NASDAQ:NXPI) last issued its earnings results on Monday, April 28th. The semiconductor provider reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.05. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.83 billion. NXP Semiconductors had a return on equity of 31.45% and a net margin of 19.90%. NXP Semiconductors’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.24 earnings per share. On average, sell-side analysts expect that NXP Semiconductors will post 10.28 earnings per share for the current year.

NXP Semiconductors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 19th were given a $1.014 dividend. The ex-dividend date was Wednesday, March 19th. This represents a $4.06 dividend on an annualized basis and a yield of 1.96%. NXP Semiconductors’s dividend payout ratio is currently 44.12%.

Insider Activity at NXP Semiconductors

In related news, COO Andrew Micallef sold 1,000 shares of the company’s stock in a transaction that occurred on 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 owns 8,828 shares in the company, valued at $1,808,504.08. This represents a 10.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NXPI. Stifel Nicolaus reduced their target price on shares of NXP Semiconductors from $210.00 to $170.00 and set a “hold” rating for the company in a report on Thursday, April 17th. Barclays reduced their target price on shares of NXP Semiconductors from $230.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Citigroup reduced their target price on shares of NXP Semiconductors from $290.00 to $220.00 and set a “buy” rating for the company in a report on Friday, April 11th. UBS Group reduced their target price on shares of NXP Semiconductors from $265.00 to $250.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. reduced their target price on shares of NXP Semiconductors from $260.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, NXP Semiconductors has a consensus rating of “Moderate Buy” and a consensus target price of $250.37.

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.