Renaissance Investment Group LLC Trims Holdings in NXP Semiconductors N.V. $NXPI

Renaissance Investment Group LLC trimmed its holdings in shares of NXP Semiconductors N.V. (NASDAQ:NXPI) by 10.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,364 shares of the semiconductor provider’s stock after selling 4,941 shares during the quarter. NXP Semiconductors accounts for approximately 1.9% of Renaissance Investment Group LLC’s investment portfolio, making the stock its 25th largest holding. Renaissance Investment Group LLC’s holdings in NXP Semiconductors were worth $9,192,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank bought a new stake in NXP Semiconductors during the 2nd quarter valued at about $453,050,000. Boston Partners increased its position in shares of NXP Semiconductors by 73.6% during the second quarter. Boston Partners now owns 2,086,769 shares of the semiconductor provider’s stock worth $454,862,000 after acquiring an additional 884,403 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of NXP Semiconductors by 33.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,342,675 shares of the semiconductor provider’s stock valued at $635,310,000 after acquiring an additional 839,113 shares in the last quarter. Rafferty Asset Management LLC raised its position in NXP Semiconductors by 56.3% during the 2nd quarter. Rafferty Asset Management LLC now owns 1,916,922 shares of the semiconductor provider’s stock valued at $418,828,000 after purchasing an additional 690,277 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of NXP Semiconductors by 20.0% during the 1st quarter. Ameriprise Financial Inc. now owns 3,404,587 shares of the semiconductor provider’s stock worth $647,387,000 after buying an additional 567,831 shares in the last quarter. 90.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Arete increased their target price on shares of NXP Semiconductors from $273.90 to $324.40 and gave the stock a “buy” rating in a report on Monday, December 8th. TD Cowen cut their price objective on shares of NXP Semiconductors from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, October 10th. Weiss Ratings reissued a “hold (c)” rating on shares of NXP Semiconductors in a research note on Wednesday, October 8th. Truist Financial increased their target price on NXP Semiconductors from $252.00 to $254.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $280.00 price target on shares of NXP Semiconductors in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, NXP Semiconductors currently has an average rating of “Moderate Buy” and an average price target of $260.04.

NXP Semiconductors Stock Down 0.9%

NXP Semiconductors stock opened at $229.75 on Wednesday. The business has a fifty day moving average price of $211.00 and a 200-day moving average price of $218.30. NXP Semiconductors N.V. has a 1-year low of $148.09 and a 1-year high of $255.45. The stock has a market capitalization of $57.82 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 3.44 and a beta of 1.46. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.37 and a quick ratio of 1.69.

NXP Semiconductors (NASDAQ:NXPI) last released its quarterly earnings results on Tuesday, October 28th. The semiconductor provider reported $3.11 EPS for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.01). The business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.15 billion. NXP Semiconductors had a net margin of 17.11% and a return on equity of 26.92%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.45 earnings per share. Equities research analysts forecast that NXP Semiconductors N.V. will post 10.28 EPS for the current fiscal year.

NXP Semiconductors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 7th. Investors of record on Wednesday, December 10th will be paid a $1.014 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $4.06 dividend on an annualized basis and a yield of 1.8%. NXP Semiconductors’s dividend payout ratio (DPR) is 50.25%.

Insiders Place Their Bets

In other NXP Semiconductors news, EVP Christopher L. Jensen sold 2,300 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $228.17, for a total transaction of $524,791.00. Following the transaction, the executive vice president owned 9,965 shares in the company, valued at approximately $2,273,714.05. This represents a 18.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Julie Southern acquired 225 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was purchased at an average cost of $225.48 per share, for a total transaction of $50,733.00. Following the completion of the acquisition, the insider directly owned 11,937 shares of the company’s stock, valued at approximately $2,691,554.76. This trade represents a 1.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.12% of the stock is owned by insiders.

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.