Bahl & Gaynor Inc. Sells 9,240 Shares of NXP Semiconductors (NASDAQ:NXPI)

Bahl & Gaynor Inc. lessened its holdings in NXP Semiconductors (NASDAQ:NXPI) by 3.3% during the second quarter, HoldingsChannel reports. The firm owned 266,992 shares of the semiconductor provider’s stock after selling 9,240 shares during the quarter. Bahl & Gaynor Inc.’s holdings in NXP Semiconductors were worth $71,845,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. LPL Financial LLC boosted its stake in NXP Semiconductors by 2.3% in the second quarter. LPL Financial LLC now owns 185,491 shares of the semiconductor provider’s stock valued at $49,914,000 after buying an additional 4,221 shares in the last quarter. VitalStone Financial LLC bought a new position in shares of NXP Semiconductors in the second quarter worth about $335,000. Daiwa Securities Group Inc. boosted its stake in shares of NXP Semiconductors by 10.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 77,947 shares of the semiconductor provider’s stock valued at $20,975,000 after purchasing an additional 7,371 shares in the last quarter. Andra AP fonden bought a new stake in shares of NXP Semiconductors during the 2nd quarter valued at approximately $35,654,000. Finally, Royal London Asset Management Ltd. increased its position in NXP Semiconductors by 1.4% during the 2nd quarter. Royal London Asset Management Ltd. now owns 101,095 shares of the semiconductor provider’s stock worth $27,204,000 after purchasing an additional 1,366 shares in the last quarter. Institutional investors own 90.54% of the company’s stock.

Insider Activity at NXP Semiconductors

In other NXP Semiconductors news, insider Julie Southern bought 146 shares of the stock in a transaction on Tuesday, July 30th. The stock was acquired at an average cost of $257.54 per share, for a total transaction of $37,600.84. Following the completion of the acquisition, the insider now owns 11,297 shares in the company, valued at approximately $2,909,429.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is owned by corporate insiders.

NXP Semiconductors Stock Down 2.3 %

Shares of NASDAQ NXPI opened at $225.19 on Wednesday. The company’s 50 day moving average price is $255.15 and its 200-day moving average price is $255.37. 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 52-week low of $167.21 and a 52-week high of $296.08. The company has a market capitalization of $57.36 billion, a P/E ratio of 20.79, a price-to-earnings-growth ratio of 2.45 and a beta of 1.49.

NXP Semiconductors (NASDAQ:NXPI) last announced its earnings results on Monday, July 22nd. The semiconductor provider reported $3.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.38. The business had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.13 billion. NXP Semiconductors had a net margin of 21.21% and a return on equity of 35.65%. NXP Semiconductors’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $3.04 earnings per share. Equities analysts forecast that NXP Semiconductors will post 11.97 earnings per share for the current year.

NXP Semiconductors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Thursday, September 12th will be given a dividend of $1.014 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $4.06 annualized dividend and a dividend yield of 1.80%. NXP Semiconductors’s payout ratio is 37.49%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Needham & Company LLC raised their target price on shares of NXP Semiconductors from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Barclays raised their price objective on NXP Semiconductors from $280.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Wells Fargo & Company boosted their price objective on NXP Semiconductors from $285.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 22nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $350.00 target price on shares of NXP Semiconductors in a research report on Tuesday, July 23rd. Finally, TD Cowen cut their price target on NXP Semiconductors from $330.00 to $310.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $294.89.

NXP Semiconductors Company 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.