Southpoint Capital Advisors LP Buys Shares of 200,000 NXP Semiconductors (NASDAQ:NXPI)

Southpoint Capital Advisors LP bought a new position in NXP Semiconductors (NASDAQ:NXPI) during the 3rd quarter, HoldingsChannel reports. The firm bought 200,000 shares of the semiconductor provider’s stock, valued at approximately $48,002,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Family Firm Inc. acquired a new position in shares of NXP Semiconductors in the 2nd quarter valued at approximately $27,000. Addison Advisors LLC boosted its holdings in shares of NXP Semiconductors by 224.2% in the second quarter. Addison Advisors LLC now owns 107 shares of the semiconductor provider’s stock valued at $29,000 after buying an additional 74 shares during the period. Valley National Advisers Inc. boosted its holdings in shares of NXP Semiconductors by 71.2% in the second quarter. Valley National Advisers Inc. now owns 125 shares of the semiconductor provider’s stock valued at $33,000 after buying an additional 52 shares during the period. Fortitude Family Office LLC increased its position in shares of NXP Semiconductors by 615.0% during the second quarter. Fortitude Family Office LLC now owns 143 shares of the semiconductor provider’s stock worth $38,000 after acquiring an additional 123 shares in the last quarter. Finally, Valley Wealth Managers Inc. acquired a new stake in shares of NXP Semiconductors during the second quarter worth $48,000. 90.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group reduced their target price on shares of NXP Semiconductors from $285.00 to $277.00 in a research note on Friday, October 11th. TD Cowen decreased their price objective on NXP Semiconductors from $300.00 to $285.00 and set a “buy” rating for the company in a report on Friday, November 8th. Susquehanna cut their target price on NXP Semiconductors from $260.00 to $250.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Truist Financial reduced their price target on NXP Semiconductors from $287.00 to $252.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Evercore ISI lowered their price objective on shares of NXP Semiconductors from $370.00 to $315.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $274.14.

NXP Semiconductors Stock Performance

NASDAQ:NXPI opened at $229.37 on Friday. The company has a market cap of $58.30 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 4.57 and a beta of 1.49. The stock has a fifty day moving average price of $233.14 and a 200-day moving average price of $250.40. NXP Semiconductors has a fifty-two week low of $201.58 and a fifty-two week high of $296.08. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.60 and a current ratio of 2.35.

NXP Semiconductors (NASDAQ:NXPI) last announced its quarterly earnings data on Monday, November 4th. The semiconductor provider reported $3.45 EPS for the quarter, beating 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 business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the previous year, the business earned $3.31 earnings per share. The company’s revenue was down 5.4% on a year-over-year basis. As a group, equities analysts anticipate that NXP Semiconductors will post 11.33 EPS for the current fiscal year.

NXP Semiconductors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Thursday, December 5th will be paid a $1.014 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.77%. NXP Semiconductors’s payout ratio is currently 38.65%.

Insider Activity at NXP Semiconductors

In related news, EVP Jennifer Wuamett sold 3,500 shares of the stock in a transaction that occurred on 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 $7,033,002.15. This represents a 10.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is currently owned by insiders.

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.