Empyrean Capital Partners LP Stake in Nxp Semiconductors N V (NXPI) Has Raised by $132.22 Million as Market Valuation Rose; Argent Capital Management Cut Its Holding in Itron (ITRI) as Stock Rose

December 22, 2017 - By Vivian Currie

Argent Capital Management Llc decreased its stake in Itron Inc. (ITRI) by 21.46% based on its latest 2017Q3 regulatory filing with the SEC. Argent Capital Management Llc sold 13,295 shares as the company’s stock rose 2.27% with the market. The institutional investor held 48,655 shares of the capital goods company at the end of 2017Q3, valued at $3.77M, down from 61,950 at the end of the previous reported quarter. Argent Capital Management Llc who had been investing in Itron Inc. for a number of months, seems to be less bullish one the $2.65B market cap company. The stock decreased 0.33% or $0.23 during the last trading session, reaching $68.32. About 75,587 shares traded. Itron, Inc. (NASDAQ:ITRI) has risen 59.09% since December 22, 2016 and is uptrending. It has outperformed by 42.39% the S&P500.

Michael A. Price increased its stake in Nxp Semiconductors N V (NXPI) by 519.55% based on its latest 2017Q3 regulatory filing with the SEC. Empyrean Capital Partners Lp bought 1.17 million shares as the company’s stock rose 5.22% with the market. The hedge fund run by Michael A. Price held 1.40M shares of the semiconductors company at the end of 2017Q3, valued at $157.79 million, up from 225,204 at the end of the previous reported quarter. Empyrean Capital Partners Lp who had been investing in Nxp Semiconductors N V for a number of months, seems to be bullish on the $39.59 billion market cap company. The stock increased 0.05% or $0.06 during the last trading session, reaching $116.76. About 1.12 million shares traded. NXP Semiconductors N.V. (NASDAQ:NXPI) has risen 24.67% since December 22, 2016 and is uptrending. It has outperformed by 7.97% the S&P500.

Among 28 analysts covering NXP Semiconductors NV (NASDAQ:NXPI), 8 have Buy rating, 1 Sell and 19 Hold. Therefore 29% are positive. NXP Semiconductors NV had 60 analyst reports since August 3, 2015 according to SRatingsIntel. The company was maintained on Wednesday, November 18 by FBR Capital. Summit Redstone Partners initiated NXP Semiconductors N.V. (NASDAQ:NXPI) rating on Wednesday, July 20. Summit Redstone Partners has “Buy” rating and $91 target. Oppenheimer maintained the shares of NXPI in report on Friday, October 30 with “Outperform” rating. As per Friday, October 30, the company rating was maintained by Canaccord Genuity. Robert W. Baird maintained the shares of NXPI in report on Thursday, October 26 with “Hold” rating. The stock of NXP Semiconductors N.V. (NASDAQ:NXPI) has “Buy” rating given on Monday, April 11 by Nomura. The firm earned “Hold” rating on Thursday, October 26 by Oppenheimer. The stock of NXP Semiconductors N.V. (NASDAQ:NXPI) earned “Hold” rating by Suntrust Robinson on Friday, October 28. The stock has “Equal-Weight” rating by Morgan Stanley on Friday, October 28. Robert W. Baird downgraded the shares of NXPI in report on Friday, October 28 to “Neutral” rating.

Empyrean Capital Partners Lp, which manages about $4.52 billion and $2.60B US Long portfolio, decreased its stake in Infinera Corporation (NASDAQ:INFN) by 1.74M shares to 761,949 shares, valued at $6.76M in 2017Q3, according to the filing. It also reduced its holding in Atlas Air Worldwide Hldgs In (Prn) by 500,000 shares in the quarter, leaving it with 21.00 million shares, and cut its stake in New Gold Inc Cda (NYSEMKT:NGD).

Analysts await Itron, Inc. (NASDAQ:ITRI) to report earnings on February, 27. They expect $0.94 EPS, up 38.24% or $0.26 from last year’s $0.68 per share. ITRI’s profit will be $36.41 million for 18.17 P/E if the $0.94 EPS becomes a reality. After $0.77 actual EPS reported by Itron, Inc. for the previous quarter, Wall Street now forecasts 22.08% EPS growth.

Among 10 analysts covering Itron Inc. (NASDAQ:ITRI), 5 have Buy rating, 0 Sell and 5 Hold. Therefore 50% are positive. Itron Inc. had 33 analyst reports since August 6, 2015 according to SRatingsIntel. The stock of Itron, Inc. (NASDAQ:ITRI) has “Buy” rating given on Thursday, May 25 by Canaccord Genuity. The firm has “” rating by Wedbush given on Tuesday, January 12. JMP Securities maintained it with “Market Outperform” rating and $88 target in Tuesday, July 18 report. Gabelli initiated the shares of ITRI in report on Wednesday, October 7 with “Hold” rating. The company was maintained on Friday, August 7 by Canaccord Genuity. Robert W. Baird maintained it with “Hold” rating and $77.0 target in Monday, September 11 report. The stock of Itron, Inc. (NASDAQ:ITRI) earned “Buy” rating by Needham on Wednesday, March 1. The firm has “Buy” rating given on Wednesday, August 16 by Canaccord Genuity. The rating was downgraded by Robert W. Baird on Wednesday, July 26 to “Neutral”. The rating was upgraded by Canaccord Genuity to “Buy” on Monday, October 19.

Since December 11, 2017, it had 2 insider purchases, and 1 sale for $261,231 activity. Shares for $824,244 were sold by Deitrich Thomas.

Investors sentiment decreased to 1.05 in Q3 2017. Its down 0.23, from 1.28 in 2017Q2. It is negative, as 23 investors sold ITRI shares while 78 reduced holdings. 42 funds opened positions while 64 raised stakes. 35.44 million shares or 28.58% less from 49.62 million shares in 2017Q2 were reported. Barclays Public Limited Co owns 5,988 shares. Quebec – Canada-based Public Sector Pension Board has invested 0.01% in Itron, Inc. (NASDAQ:ITRI). Bankshares Of Montreal Can reported 84,377 shares. Insight Rech Mgmt Inc holds 9,466 shares. New York State Common Retirement Fund holds 0.01% of its portfolio in Itron, Inc. (NASDAQ:ITRI) for 60,843 shares. Foundry Ltd Company holds 0.73% in Itron, Inc. (NASDAQ:ITRI) or 237,217 shares. Harris Assocs LP holds 0.1% of its portfolio in Itron, Inc. (NASDAQ:ITRI) for 771,403 shares. Fairpointe Capital Ltd Company reported 902,769 shares. Ls Invest Advsr Limited Com invested 0.01% of its portfolio in Itron, Inc. (NASDAQ:ITRI). Bogle Investment LP De holds 16,837 shares or 0.09% of its portfolio. Riverhead Cap Management has 2,303 shares. Arizona State Retirement System invested in 17,634 shares. Eqis Cap accumulated 5,869 shares. Kennedy Cap Mngmt Inc reported 0.26% of its portfolio in Itron, Inc. (NASDAQ:ITRI). State Of Alaska Department Of Revenue stated it has 6,747 shares or 0.03% of all its holdings.

Argent Capital Management Llc, which manages about $2.51 billion and $2.59B US Long portfolio, upped its stake in Quanta Services Inc. (NYSE:PWR) by 9,685 shares to 59,185 shares, valued at $2.21 million in 2017Q3, according to the filing. It also increased its holding in Bristol (NYSE:BMY) by 36,632 shares in the quarter, for a total of 255,582 shares, and has risen its stake in Pepsico Inc. (NYSE:PEP).