Westpac Banking Corp Sells 2,861 Shares of NXP Semiconductors (NASDAQ:NXPI)

Westpac Banking Corp trimmed its stake in shares of NXP Semiconductors (NASDAQ:NXPI) by 58.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,058 shares of the semiconductor provider’s stock after selling 2,861 shares during the quarter. Westpac Banking Corp’s holdings in NXP Semiconductors were worth $428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Merit Financial Group LLC bought a new position in NXP Semiconductors during the 4th quarter worth approximately $360,000. Strategic Financial Concepts LLC acquired a new stake in shares of NXP Semiconductors during the fourth quarter worth $46,000. Austin Private Wealth LLC raised its stake in NXP Semiconductors by 140.6% during the fourth quarter. Austin Private Wealth LLC now owns 3,198 shares of the semiconductor provider’s stock worth $665,000 after buying an additional 1,869 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in NXP Semiconductors by 2.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 98,558 shares of the semiconductor provider’s stock valued at $21,068,000 after buying an additional 2,609 shares during the period. Finally, Czech National Bank boosted its position in NXP Semiconductors by 6.2% during the fourth quarter. Czech National Bank now owns 55,107 shares of the semiconductor provider’s stock valued at $11,454,000 after acquiring an additional 3,216 shares during the last quarter. 90.54% of the stock is owned by institutional investors and hedge funds.

NXP Semiconductors Price Performance

Shares of NASDAQ:NXPI opened at $160.81 on Friday. NXP Semiconductors has a 1-year low of $155.87 and a 1-year high of $296.08. The company has a current ratio of 2.36, a quick ratio of 1.60 and a debt-to-equity ratio of 1.09. The stock has a market cap of $40.78 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 3.01 and a beta of 1.47. The stock’s fifty day simple moving average is $211.21 and its two-hundred day simple moving average is $220.38.

NXP Semiconductors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 19th will be issued a dividend of $1.014 per share. This represents a $4.06 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Wednesday, March 19th. NXP Semiconductors’s dividend payout ratio (DPR) is presently 41.62%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NXPI shares. Arete Research raised NXP Semiconductors to a “strong-buy” rating in a research note on Tuesday, March 25th. Barclays cut their price target on NXP Semiconductors from $280.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Truist Financial lifted their price objective on shares of NXP Semiconductors from $245.00 to $258.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. dropped their target price on shares of NXP Semiconductors from $260.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Finally, Mizuho raised their price target on shares of NXP Semiconductors from $240.00 to $255.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, NXP Semiconductors presently has an average rating of “Moderate Buy” and an average price target of $267.00.

Insiders Place Their Bets

In other NXP Semiconductors news, COO Andrew Micallef sold 1,000 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $204.86, for a total value of $204,860.00. Following the completion of the transaction, the chief operating officer now owns 8,828 shares in the company, valued at $1,808,504.08. This represents a 10.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is currently owned by insiders.

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.