Codex Capital Asset Management L.L.C. Trims Stake in NXP Semiconductors (NASDAQ:NXPI)

Codex Capital Asset Management L.L.C. lessened its position in NXP Semiconductors (NASDAQ:NXPI) by 16.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,500 shares of the semiconductor provider’s stock after selling 2,000 shares during the quarter. NXP Semiconductors makes up about 1.0% of Codex Capital Asset Management L.L.C.’s investment portfolio, making the stock its 27th largest holding. Codex Capital Asset Management L.L.C.’s holdings in NXP Semiconductors were worth $2,193,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in NXPI. HITE Hedge Asset Management LLC bought a new position in shares of NXP Semiconductors during the third quarter valued at approximately $13,445,000. Merit Financial Group LLC purchased a new stake in shares of NXP Semiconductors in the 4th quarter worth approximately $360,000. Strategic Financial Concepts LLC bought a new position in NXP Semiconductors during the 4th quarter valued at approximately $46,000. Banque Cantonale Vaudoise raised its stake in NXP Semiconductors by 60.2% during the third quarter. Banque Cantonale Vaudoise now owns 25,850 shares of the semiconductor provider’s stock valued at $6,204,000 after buying an additional 9,710 shares during the last quarter. Finally, Austin Private Wealth LLC boosted its holdings in NXP Semiconductors by 140.6% in the fourth quarter. Austin Private Wealth LLC now owns 3,198 shares of the semiconductor provider’s stock worth $665,000 after acquiring an additional 1,869 shares in the last quarter. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NXPI. Citigroup upgraded NXP Semiconductors from a “neutral” rating to a “buy” rating and raised their price target for the company from $210.00 to $290.00 in a report on Thursday, February 20th. Morgan Stanley upgraded shares of NXP Semiconductors from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $231.00 to $257.00 in a research note on Wednesday, February 12th. Needham & Company LLC dropped their target price on shares of NXP Semiconductors from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. JPMorgan Chase & Co. reduced their price target on shares of NXP Semiconductors from $260.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus lowered their price objective on NXP Semiconductors from $231.00 to $210.00 and set a “hold” rating on the stock in a research report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $267.00.

Insider Buying and Selling

In other NXP Semiconductors news, COO Andrew Micallef sold 1,000 shares of the company’s stock in a transaction dated 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.11% of the stock is owned by insiders.

NXP Semiconductors Stock Performance

Shares of NASDAQ NXPI opened at $207.10 on Wednesday. The company has a current ratio of 2.36, a quick ratio of 1.60 and a debt-to-equity ratio of 1.09. NXP Semiconductors has a 12-month low of $198.21 and a 12-month high of $296.08. The firm has a market capitalization of $52.52 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 3.01 and a beta of 1.47. The firm has a 50 day moving average of $215.77 and a 200 day moving average of $223.71.

NXP Semiconductors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 19th will be paid a $1.014 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $4.06 annualized dividend and a dividend yield of 1.96%. NXP Semiconductors’s dividend payout ratio (DPR) is 41.62%.

About NXP Semiconductors

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.