Bank of Nova Scotia Lowers Holdings in NXP Semiconductors (NASDAQ:NXPI)

Bank of Nova Scotia decreased its stake in NXP Semiconductors (NASDAQ:NXPIGet Rating) by 70.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,674 shares of the semiconductor provider’s stock after selling 51,514 shares during the quarter. Bank of Nova Scotia’s holdings in NXP Semiconductors were worth $3,209,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in shares of NXP Semiconductors by 14.3% in the second quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 8,971 shares of the semiconductor provider’s stock worth $1,328,000 after buying an additional 1,122 shares during the last quarter. Kentucky Retirement Systems boosted its stake in shares of NXP Semiconductors by 15.0% in the second quarter. Kentucky Retirement Systems now owns 19,487 shares of the semiconductor provider’s stock worth $2,885,000 after buying an additional 2,536 shares during the last quarter. Texas Permanent School Fund boosted its stake in shares of NXP Semiconductors by 0.5% in the second quarter. Texas Permanent School Fund now owns 34,681 shares of the semiconductor provider’s stock worth $5,134,000 after buying an additional 187 shares during the last quarter. Donoghue Forlines LLC boosted its position in NXP Semiconductors by 27.7% during the second quarter. Donoghue Forlines LLC now owns 8,116 shares of the semiconductor provider’s stock worth $1,201,000 after purchasing an additional 1,761 shares in the last quarter. Finally, State of Michigan Retirement System boosted its position in NXP Semiconductors by 2.7% during the second quarter. State of Michigan Retirement System now owns 79,568 shares of the semiconductor provider’s stock worth $11,778,000 after purchasing an additional 2,100 shares in the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on NXPI. Barclays downgraded NXP Semiconductors from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $200.00 to $140.00 in a research report on Monday, October 24th. Mizuho lowered their price target on NXP Semiconductors from $200.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 2nd. Credit Suisse Group began coverage on NXP Semiconductors in a research report on Tuesday. They set a “neutral” rating on the stock. Susquehanna Bancshares lowered their price target on NXP Semiconductors from $200.00 to $175.00 in a research report on Wednesday, November 2nd. Finally, Cowen increased their price target on NXP Semiconductors from $190.00 to $200.00 in a research report on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $185.79.

NXP Semiconductors Price Performance

NASDAQ:NXPI opened at $174.81 on Wednesday. NXP Semiconductors has a one year low of $132.08 and a one year high of $239.91. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.59 and a current ratio of 2.08. The stock has a market cap of $45.30 billion, a PE ratio of 17.41, a P/E/G ratio of 0.60 and a beta of 1.42. The stock has a 50 day moving average price of $153.84 and a 200 day moving average price of $165.73.

NXP Semiconductors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 6th. Investors of record on Thursday, September 15th were issued a $0.845 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $3.38 annualized dividend and a dividend yield of 1.93%. NXP Semiconductors’s dividend payout ratio is presently 33.67%.

About NXP Semiconductors

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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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Institutional Ownership by Quarter for NXP Semiconductors (NASDAQ:NXPI)

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