Connor Clark & Lunn Investment Management Ltd. Sells 8,575 Shares of NXP Semiconductors N.V. (NASDAQ:NXPI)

Connor Clark & Lunn Investment Management Ltd. reduced its position in NXP Semiconductors N.V. (NASDAQ:NXPI) by 43.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,095 shares of the semiconductor provider’s stock after selling 8,575 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in NXP Semiconductors were worth $2,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Townsquare Capital LLC lifted its holdings in shares of NXP Semiconductors by 2.4% in the first quarter. Townsquare Capital LLC now owns 3,142 shares of the semiconductor provider’s stock worth $597,000 after buying an additional 74 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of NXP Semiconductors in the first quarter worth $54,000. Wolverine Asset Management LLC lifted its holdings in shares of NXP Semiconductors by 5.1% in the first quarter. Wolverine Asset Management LLC now owns 4,121 shares of the semiconductor provider’s stock worth $783,000 after buying an additional 200 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of NXP Semiconductors by 22.1% in the first quarter. National Bank of Canada FI now owns 58,845 shares of the semiconductor provider’s stock worth $11,191,000 after buying an additional 10,652 shares in the last quarter. Finally, AlphaCore Capital LLC lifted its holdings in shares of NXP Semiconductors by 3.5% in the first quarter. AlphaCore Capital LLC now owns 1,635 shares of the semiconductor provider’s stock worth $312,000 after buying an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Jennifer Wuamett sold 9,132 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $230.00, for a total value of $2,100,360.00. Following the sale, the executive vice president directly owned 27,088 shares in the company, valued at approximately $6,230,240. This trade represents a 25.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William Betz sold 6,785 shares of the firm’s stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $227.34, for a total transaction of $1,542,501.90. Following the completion of the sale, the chief financial officer owned 1,520 shares in the company, valued at $345,556.80. This represents a 81.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,917 shares of company stock worth $4,082,002 in the last three months. Corporate insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

NXPI has been the topic of several research analyst reports. Morgan Stanley set a $229.00 target price on shares of NXP Semiconductors in a report on Monday, April 21st. JPMorgan Chase & Co. boosted their target price on shares of NXP Semiconductors from $205.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. KeyCorp upped their price target on shares of NXP Semiconductors from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. TD Cowen upped their price target on shares of NXP Semiconductors from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Finally, UBS Group upped their price target on shares of NXP Semiconductors from $250.00 to $276.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, NXP Semiconductors currently has an average rating of “Moderate Buy” and a consensus target price of $256.05.

NXP Semiconductors Trading Up 0.4%

NASDAQ NXPI opened at $231.54 on Friday. The company’s 50-day moving average price is $219.75 and its 200-day moving average price is $206.85. The company has a current ratio of 1.74, a quick ratio of 1.20 and a debt-to-equity ratio of 0.99. The stock has a market cap of $58.38 billion, a PE ratio of 27.60, a PEG ratio of 2.61 and a beta of 1.41. NXP Semiconductors N.V. has a 12 month low of $148.09 and a 12 month high of $259.74.

NXP Semiconductors (NASDAQ:NXPI) last posted its quarterly earnings results on Monday, July 21st. The semiconductor provider reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.06. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.90 billion. NXP Semiconductors had a net margin of 17.72% and a return on equity of 27.99%. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.20 earnings per share. Equities research analysts forecast that NXP Semiconductors N.V. will post 10.28 earnings per share for the current year.

NXP Semiconductors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 25th were issued a dividend of $1.014 per share. This represents a $4.06 annualized dividend and a yield of 1.8%. The ex-dividend date was Wednesday, June 25th. NXP Semiconductors’s dividend payout ratio is presently 48.39%.

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.