Connor Clark & Lunn Investment Management Ltd. Sells 46,576 Shares of NXP Semiconductors (NASDAQ:NXPI)

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in NXP Semiconductors (NASDAQ:NXPI) by 71.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,711 shares of the semiconductor provider’s stock after selling 46,576 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in NXP Semiconductors were worth $4,491,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NXPI. Van ECK Associates Corp increased its holdings in NXP Semiconductors by 67.2% in the third quarter. Van ECK Associates Corp now owns 3,041,129 shares of the semiconductor provider’s stock valued at $718,680,000 after purchasing an additional 1,222,736 shares during the last quarter. Ameriprise Financial Inc. increased its stake in NXP Semiconductors by 5.1% in the second quarter. Ameriprise Financial Inc. now owns 2,428,779 shares of the semiconductor provider’s stock valued at $653,567,000 after purchasing an additional 118,366 shares in the last quarter. Legal & General Group Plc raised its holdings in NXP Semiconductors by 1.6% in the second quarter. Legal & General Group Plc now owns 2,271,866 shares of the semiconductor provider’s stock worth $611,336,000 after purchasing an additional 35,104 shares during the period. Bank of New York Mellon Corp boosted its position in shares of NXP Semiconductors by 5.5% during the second quarter. Bank of New York Mellon Corp now owns 1,533,421 shares of the semiconductor provider’s stock worth $412,628,000 after purchasing an additional 80,087 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of NXP Semiconductors by 13.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,086,245 shares of the semiconductor provider’s stock valued at $292,246,000 after buying an additional 127,607 shares during the period. 90.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on NXPI shares. The Goldman Sachs Group reduced their target price on NXP Semiconductors from $285.00 to $277.00 in a report on Friday, October 11th. Needham & Company LLC cut their price objective on NXP Semiconductors from $300.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Oppenheimer lowered their target price on NXP Semiconductors from $330.00 to $300.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Mizuho set a $290.00 price target on shares of NXP Semiconductors in a research note on Friday, October 18th. Finally, Susquehanna reduced their price target on shares of NXP Semiconductors from $260.00 to $250.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $274.14.

Insider Buying and Selling at NXP Semiconductors

In other NXP Semiconductors news, EVP Jennifer Wuamett sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $232.35, for a total transaction of $813,225.00. Following the completion of the sale, the executive vice president now directly owns 30,269 shares in the company, valued at $7,033,002.15. This trade represents a 10.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.

NXP Semiconductors Price Performance

Shares of NXPI opened at $226.38 on Friday. The company has a current ratio of 2.35, a quick ratio of 1.60 and a debt-to-equity ratio of 0.99. The company’s fifty day simple moving average is $233.53 and its 200 day simple moving average is $251.46. NXP Semiconductors has a 1-year low of $198.00 and a 1-year high of $296.08. The company 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.

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, beating analysts’ consensus estimates of $3.43 by $0.02. The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.25 billion. NXP Semiconductors had a net margin of 20.98% and a return on equity of 33.57%. NXP Semiconductors’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.31 EPS. On average, research analysts forecast that NXP Semiconductors will post 11.37 earnings per share for the current fiscal year.

NXP Semiconductors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Thursday, December 5th will be paid a $1.014 dividend. This represents a $4.06 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Thursday, December 5th. NXP Semiconductors’s dividend payout ratio (DPR) is presently 38.74%.

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.