Montecito Bank & Trust Increases Stake in NXP Semiconductors (NASDAQ:NXPI)

Montecito Bank & Trust increased its position in NXP Semiconductors (NASDAQ:NXPI) by 25.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,190 shares of the semiconductor provider’s stock after acquiring an additional 245 shares during the quarter. Montecito Bank & Trust’s holdings in NXP Semiconductors were worth $286,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in NXP Semiconductors by 17.3% in the 1st quarter. Vanguard Group Inc. now owns 12,921,432 shares of the semiconductor provider’s stock worth $3,201,543,000 after acquiring an additional 1,909,898 shares during the last quarter. Van ECK Associates Corp grew its holdings in NXP Semiconductors by 67.2% during the 3rd quarter. Van ECK Associates Corp now owns 3,041,129 shares of the semiconductor provider’s stock valued at $718,680,000 after buying an additional 1,222,736 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in NXP Semiconductors by 5.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,428,779 shares of the semiconductor provider’s stock valued at $653,567,000 after buying an additional 118,366 shares in the last quarter. Legal & General Group Plc grew its holdings in NXP Semiconductors by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 2,271,866 shares of the semiconductor provider’s stock valued at $611,336,000 after buying an additional 35,104 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in NXP Semiconductors by 5.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,533,421 shares of the semiconductor provider’s stock valued at $412,628,000 after buying an additional 80,087 shares in the last quarter. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. TD Cowen reduced their target price on NXP Semiconductors from $330.00 to $310.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Citic Securities assumed coverage on NXP Semiconductors in a report on Friday, October 11th. They set a $288.00 target price for the company. Evercore ISI reduced their target price on NXP Semiconductors from $370.00 to $315.00 and set an “outperform” rating for the company in a report on Wednesday. UBS Group reduced their target price on NXP Semiconductors from $285.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $270.00 price target on shares of NXP Semiconductors in a research report on Monday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $276.85.

Insider Activity

In other news, EVP Jennifer Wuamett sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $232.35, for a total transaction of $813,225.00. Following the transaction, the executive vice president now directly owns 30,269 shares of the company’s stock, valued at approximately $7,033,002.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.11% of the company’s stock.

NXP Semiconductors Stock Performance

Shares of NXPI stock opened at $236.12 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.52 and a current ratio of 2.21. NXP Semiconductors has a fifty-two week low of $179.64 and a fifty-two week high of $296.08. The stock has a 50 day moving average price of $236.43 and a two-hundred day moving average price of $253.19. The company has a market capitalization of $60.15 billion, a P/E ratio of 22.53, a PEG ratio of 2.57 and a beta of 1.49.

NXP Semiconductors (NASDAQ:NXPI) last announced its quarterly earnings data on Monday, November 4th. The semiconductor provider reported $3.45 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.02. NXP Semiconductors had a return on equity of 34.11% and a net margin of 20.98%. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the previous year, the company posted $3.31 earnings per share. The business’s revenue was down 5.4% on a year-over-year basis. Analysts expect that NXP Semiconductors will post 11.94 earnings per share for the current year.

NXP Semiconductors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Thursday, September 12th were given a $1.014 dividend. The ex-dividend date was Thursday, September 12th. This represents a $4.06 annualized dividend and a yield of 1.72%. NXP Semiconductors’s payout ratio is currently 38.74%.

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.