Logan Capital Management Inc. has decreased its stake in NXP Semiconductors N.V. (NASDAQ: NXPI) by 8.4% during the second quarter of 2023. According to the firm’s recent filing with the Securities and Exchange Commission (SEC), Logan Capital now holds 13,321 shares of the semiconductor company after selling 1,216 shares. The value of these holdings is approximately $2.91 million.
The adjustments by Logan Capital are part of a larger trend among institutional investors. Hemington Wealth Management, for instance, increased its stake in NXP Semiconductors by 50% in the first quarter, bringing its total to 177 shares valued at around $33,000. Similarly, Brown Lisle Cummings Inc. raised its position by 121.7% in the second quarter, now owning 153 shares worth $33,000. Valley National Advisers Inc. also boosted its stake by nearly 119% during the same period, acquiring 232 shares valued at about $43,000.
Market Performance and Investor Sentiment
As of October 8, 2023, NXP Semiconductors shares opened at $212.96, reflecting a decline of 3.9%. The company’s fifty-day simple moving average stands at $224.62, while the two-hundred-day average is at $213.72. Over the past year, NXP Semiconductors has seen a low of $148.09 and a high of $256.62. The company has a market capitalization of $53.69 billion and a price-to-earnings ratio of 26.36.
The dividend landscape for NXP Semiconductors has also been noteworthy. On October 8, the company paid a quarterly dividend of $1.014 per share to shareholders of record as of September 17. This reflects an annualized dividend of $4.06, yielding approximately 1.9%, with a dividend payout ratio of 48.39%.
Analyst Ratings and Price Predictions
Recent evaluations from equity research analysts indicate a generally positive outlook for NXP Semiconductors. JPMorgan Chase & Co. raised its price target for the company from $205.00 to $240.00 while maintaining a “neutral” rating. Truist Financial also increased its target from $230.00 to $252.00, reiterating a “buy” rating.
Cantor Fitzgerald has an “overweight” rating for NXP Semiconductors, setting a target price of $280.00, while Wells Fargo & Company increased its price objective from $250.00 to $260.00, also rating it as “overweight.” Conversely, TD Cowen adjusted its target down to $260.00 from $270.00 but kept a “buy” rating.
Overall, MarketBeat.com reports that NXP Semiconductors has two strong buy ratings, fifteen buy ratings, and four hold ratings, suggesting a consensus rating of “Moderate Buy” with a price target of $259.00.
Insider trading activity has also been notable. On August 12, President Rafael Sotomayor sold 2,000 shares at an average price of $219.57, totaling $439,140. Following this transaction, he retained 4,958 shares valued at approximately $1.09 million. Additionally, Executive Vice President Andrew Micallef sold 1,000 shares on September 15 for $216.21 each, resulting in a total sale of $216,210. This transaction reduced his holding to 6,828 shares valued at around $1.48 million.
The ownership of NXP Semiconductors is significantly dominated by institutional investors, who collectively hold 90.54% of the stock.
NXP Semiconductors N.V. continues to solidify its position in the semiconductor market with a diverse portfolio that includes microcontrollers, application processors, and wireless connectivity solutions. As the company navigates a fluctuating market, investor interest and analyst evaluations remain critical indicators of its future performance.
