31,003 Shares in NXP Semiconductors N.V. $NXPI Purchased by Oregon Public Employees Retirement Fund

Key Points

• Oregon Public Employees Retirement Fund opened a position in NXP Semiconductors, acquiring 31,003 shares worth approximately $7.36 million. Institutional investors and hedge funds own 90.54% of the stock.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $295.78, based on 16 Buy, nine Hold, and one Sell rating.
• NXP beat quarterly earnings and revenue estimates, with year-over-year revenue growth of 19.3%. The board also authorized a $5 billion share-repurchase program.

Oregon Public Employees Retirement Fund acquired a new position in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 31,003 shares of the semiconductor provider's stock, valued at approximately $7,364,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of NXP Semiconductors during the 2nd quarter valued at $6,716,412,000. State Street Corp increased its position in shares of NXP Semiconductors by 6.4% in the second quarter. State Street Corp now owns 11,699,143 shares of the semiconductor provider's stock worth $3,298,932,000 after purchasing an additional 702,099 shares during the period. Bank of America Corp DE bought a new position in shares of NXP Semiconductors in the second quarter worth $1,169,846,000. Van ECK Associates Corp bought a new position in shares of NXP Semiconductors in the second quarter worth $1,167,458,000. Finally, Jupiter Topco LLC acquired a new position in NXP Semiconductors in the second quarter valued at about $742,385,000. 90.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NXPI has been the subject of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of NXP Semiconductors from $235.00 to $245.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 28th. Cantor Fitzgerald reissued an "overweight" rating and issued a $400.00 target price on shares of NXP Semiconductors in a report on Monday, October 26th. Jefferies Financial Group dropped their target price on shares of NXP Semiconductors from $370.00 to $350.00 and set a "buy" rating for the company in a research report on Wednesday, October 28th. UBS Group cut shares of NXP Semiconductors from a "buy" rating to a "neutral" rating and dropped their target price for the company from $305.00 to $270.00 in a research report on Monday, August 3rd. Finally, Susquehanna upped their price target on shares of NXP Semiconductors from $210.00 to $250.00 and gave the stock a "neutral" rating in a report on Tuesday, July 21st. Sixteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $295.78.

NXP Semiconductors Price Performance

Shares of NXPI stock opened at $265.01 on Thursday. The company has a quick ratio of 1.47, a current ratio of 2.12 and a debt-to-equity ratio of 0.80. NXP Semiconductors N.V. has a twelve month low of $183.00 and a twelve month high of $339.95. The company has a market cap of $66.80 billion, a P/E ratio of 20.83, a P/E/G ratio of 0.89 and a beta of 1.83. The business has a fifty day simple moving average of $235.22 and a 200 day simple moving average of $246.42.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The semiconductor provider reported $4.20 earnings per share for the quarter, beating the consensus estimate of $4.12 by $0.08. NXP Semiconductors had a return on equity of 28.57% and a net margin of 23.40%. The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same period last year, the firm posted $3.11 earnings per share. NXP Semiconductors's revenue was up 19.3% compared to the same quarter last year. On average, sell-side analysts forecast that NXP Semiconductors N.V. will post 13.81 EPS for the current fiscal year.

NXP Semiconductors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Wednesday, September 16th were paid a $1.0140 dividend. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Wednesday, September 16th. NXP Semiconductors's dividend payout ratio (DPR) is presently 31.92%.

NXP Semiconductors announced that its board has authorized a share repurchase program on Tuesday, October 27th that authorizes the company to buy back $5 billion in outstanding shares. This buyback authorization authorizes the semiconductor provider to buy shares of its stock through open market purchases. Share buyback programs are generally an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Christopher Jensen sold 3,355 shares of NXP Semiconductors stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $240.00, for a total transaction of $805,200.00. Following the sale, the executive vice president directly owned 288 shares of the company's stock, valued at approximately $69,120. The trade was a 92.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Micallef sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $226.04, for a total transaction of $226,040.00. Following the transaction, the executive vice president owned 7,942 shares of the company's stock, valued at approximately $1,795,209.68. This represents a 11.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.05% of the company's stock.

About NXP Semiconductors

NXP Semiconductors N.V. is a global semiconductor company that develops technologies for automotive, industrial, communications infrastructure, mobile, and Internet of Things applications. The company provides processing, connectivity, security, sensing, and power-management solutions that help enable connected and automated systems.

Its product portfolio includes microcontrollers and application processors, automotive networking and radar solutions, secure identification and authentication technologies, near-field communication products, radio-frequency power amplifiers, analog and mixed-signal devices, and wireless connectivity solutions.

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