Bank of Nova Scotia Cuts Stock Position in NXP Semiconductors N.V. $NXPI

Bank of Nova Scotia decreased its holdings in NXP Semiconductors N.V. (NASDAQ:NXPI) by 93.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,798 shares of the semiconductor provider’s stock after selling 462,190 shares during the quarter. Bank of Nova Scotia’s holdings in NXP Semiconductors were worth $6,653,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Systematic Financial Management LP increased its holdings in NXP Semiconductors by 102.8% during the 1st quarter. Systematic Financial Management LP now owns 7,595 shares of the semiconductor provider’s stock worth $1,495,000 after purchasing an additional 3,850 shares during the period. Sei Investments Co. boosted its stake in NXP Semiconductors by 69.0% in the first quarter. Sei Investments Co. now owns 166,344 shares of the semiconductor provider’s stock valued at $32,746,000 after acquiring an additional 67,927 shares in the last quarter. State of Wyoming purchased a new position in NXP Semiconductors during the 1st quarter worth approximately $123,000. Cetera Investment Advisers grew its position in shares of NXP Semiconductors by 5.8% during the first quarter. Cetera Investment Advisers now owns 75,406 shares of the semiconductor provider’s stock worth $14,844,000 after acquiring an additional 4,157 shares during the last quarter. Finally, Aureus Asset Management LLC purchased a new position in NXP Semiconductors during the 1st quarter worth $1,316,000. 90.54% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Christopher L. Jensen sold 1,746 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $316.53, for a total value of $552,661.38. Following the completion of the sale, the executive vice president owned 3,643 shares in the company, valued at $1,153,118.79. This trade represents a 32.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Micallef sold 1,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $315.57, for a total transaction of $315,570.00. Following the sale, the executive vice president directly owned 8,942 shares in the company, valued at approximately $2,821,826.94. This represents a 10.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.05% of the company’s stock.

NXP Semiconductors Price Performance

Shares of NASDAQ:NXPI opened at $267.67 on Tuesday. The company has a quick ratio of 1.55, a current ratio of 2.24 and a debt-to-equity ratio of 1.00. The company has a market cap of $67.58 billion, a P/E ratio of 25.61, a PEG ratio of 1.12 and a beta of 1.79. NXP Semiconductors N.V. has a 52 week low of $183.00 and a 52 week high of $339.95. The company has a 50-day moving average price of $295.40 and a 200 day moving average price of $252.71.

NXP Semiconductors (NASDAQ:NXPI) last released its earnings results on Wednesday, April 29th. The semiconductor provider reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.07. NXP Semiconductors had a return on equity of 26.75% and a net margin of 21.03%.The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the previous year, the firm posted $2.64 EPS. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. Research analysts predict that NXP Semiconductors N.V. will post 13.46 earnings per share for the current year.

NXP Semiconductors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Wednesday, June 24th were given a dividend of $1.014 per share. This represents a $4.06 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Wednesday, June 24th. NXP Semiconductors’s payout ratio is presently 38.85%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NXPI shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of NXP Semiconductors in a research note on Monday. Stifel Nicolaus increased their price objective on NXP Semiconductors from $215.00 to $250.00 and gave the stock a “hold” rating in a research report on Friday, April 24th. Oppenheimer increased their price objective on NXP Semiconductors from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday. The Goldman Sachs Group reissued a “buy” rating on shares of NXP Semiconductors in a report on Wednesday, April 29th. Finally, Citigroup restated a “neutral” rating on shares of NXP Semiconductors in a research note on Monday, July 13th. Sixteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, NXP Semiconductors presently has an average rating of “Moderate Buy” and an average price target of $307.73.

NXP Semiconductors Company Profile

NXP Semiconductors N.V. is a global semiconductor company headquartered in Eindhoven, the Netherlands, that designs and supplies mixed-signal and standard product solutions for a broad range of end markets. The company focuses on enabling secure connections and infrastructure for embedded applications, developing technologies used across automotive, industrial and Internet of Things (IoT), mobile, and communication infrastructure segments. NXP’s offerings target customers that require reliable, secure, and high-performance semiconductor components for connected devices and systems.

Product lines include microcontrollers and application processors, secure elements and authentication technologies, RF and high-power analog components, connectivity solutions, and vehicle networking and infotainment systems.