NXP Semiconductors (NASDAQ:NXPI) Sees Large Growth in Short Interest

NXP Semiconductors (NASDAQ:NXPIGet Rating) was the recipient of a significant growth in short interest during the month of April. As of April 30th, there was short interest totalling 7,050,000 shares, a growth of 30.6% from the April 15th total of 5,400,000 shares. Based on an average daily volume of 2,760,000 shares, the days-to-cover ratio is currently 2.6 days. Currently, 2.7% of the company’s shares are short sold.

NXP Semiconductors stock traded down $10.25 during mid-day trading on Wednesday, hitting $175.39. The company had a trading volume of 2,652,806 shares, compared to its average volume of 2,800,340. The company has a current ratio of 1.85, a quick ratio of 1.39 and a debt-to-equity ratio of 1.56. The stock’s 50 day moving average price is $178.84 and its two-hundred day moving average price is $200.00. NXP Semiconductors has a 12 month low of $164.75 and a 12 month high of $239.91. The company has a market capitalization of $46.05 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36.

NXP Semiconductors (NASDAQ:NXPIGet Rating) last released its earnings results on Monday, May 2nd. The semiconductor provider reported $3.11 EPS for the quarter, topping the consensus estimate of $2.85 by $0.26. NXP Semiconductors had a return on equity of 40.21% and a net margin of 18.70%. The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.10 billion. Equities research analysts anticipate that NXP Semiconductors will post 12.35 EPS for the current year.

A number of hedge funds have recently bought and sold shares of NXPI. JustInvest LLC lifted its holdings in NXP Semiconductors by 33.1% in the third quarter. JustInvest LLC now owns 1,664 shares of the semiconductor provider’s stock valued at $326,000 after acquiring an additional 414 shares during the period. Lord Abbett & CO. LLC lifted its holdings in NXP Semiconductors by 4.4% in the third quarter. Lord Abbett & CO. LLC now owns 69,450 shares of the semiconductor provider’s stock valued at $13,603,000 after acquiring an additional 2,917 shares during the period. Creative Planning lifted its holdings in NXP Semiconductors by 105.7% in the third quarter. Creative Planning now owns 34,070 shares of the semiconductor provider’s stock valued at $6,673,000 after acquiring an additional 17,509 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in NXP Semiconductors by 8.9% in the third quarter. O Shaughnessy Asset Management LLC now owns 16,016 shares of the semiconductor provider’s stock valued at $3,137,000 after acquiring an additional 1,311 shares during the period. Finally, IndexIQ Advisors LLC lifted its holdings in NXP Semiconductors by 6.2% in the third quarter. IndexIQ Advisors LLC now owns 4,329 shares of the semiconductor provider’s stock valued at $848,000 after acquiring an additional 252 shares during the period. 89.03% of the stock is currently owned by institutional investors.

Several brokerages have weighed in on NXPI. Mizuho boosted their price objective on NXP Semiconductors from $200.00 to $205.00 in a research report on Wednesday, May 4th. Morgan Stanley boosted their price objective on NXP Semiconductors from $256.00 to $262.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 2nd. Oppenheimer lowered their price objective on NXP Semiconductors from $235.00 to $210.00 in a research report on Thursday, April 28th. Piper Sandler lowered their price objective on NXP Semiconductors from $210.00 to $175.00 in a research report on Tuesday, May 3rd. Finally, Barclays reduced their target price on NXP Semiconductors from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Monday, April 25th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $226.30.

About NXP Semiconductors (Get Rating)

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.

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