Is it “Take-Profit” Time for Your NXP Semiconductors (NXPI) Stake?

ClearBridge Investments, an investment management firm, published its “Large Cap Growth ESG Strategy” second quarter 2022 investor letter – a copy of which can be downloaded here. The ClearBridge Dividend Strategy outperformed its S&P 500 Index benchmark during the second quarter. On an absolute basis, the Strategy had gains in one of the 11 sectors in which it was invested for the quarter: the health care sector. The IT, financials and materials sectors, meanwhile, were the main detractors. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, ClearBridge Large Cap Growth ESG Strategy mentioned NXP Semiconductors N.V. (NASDAQ:NXPI) and explained its insights for the company. Founded in 2006, NXP Semiconductors N.V. (NASDAQ:NXPI) is an Eindhoven, Netherlands-based semiconductor manufacturing company with a $47.7 billion market capitalization. NXP Semiconductors N.V. (NASDAQ:NXPI) delivered a -20.25% return since the beginning of the year, while its 12-month returns are down by -15.01%. The stock closed at $181.66 per share on August 05, 2022.

Here is what ClearBridge Large Cap Growth ESG Strategy has to say about NXP Semiconductors N.V. (NASDAQ:NXPI) in its Q2 2022 investor letter:

“Within information technology (IT), where we maintain an underweight compared to the benchmark, we took profits in NXP Semiconductors (NASDAQ:NXPI), a part of the pro-cyclical reflation basket built up in 2020. Despite strong current fundamentals, there is an ongoing risk of major supply increases in the semiconductor industry as capacity announcements are near records.”

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Our calculations show that NXP Semiconductors N.V. (NASDAQ:NXPI) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. NXP Semiconductors N.V. (NASDAQ:NXPI) was in 43 hedge fund portfolios at the end of the second quarter of 2022, compared to 44 funds in the previous quarter. NXP Semiconductors N.V. (NASDAQ:NXPI) delivered a 2.30% return in the past 3 months.

In April 2022, we also shared another hedge fund’s views on NXP Semiconductors N.V. (NASDAQ:NXPI) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

Disclosure: None. This article is originally published at Insider Monkey.

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