Allstate Corp Grows Position in NXP Semiconductors N.V. $NXPI

Key Points

• Allstate Corp increased its stake in NXP Semiconductors by 114% in the fourth quarter, bringing its holdings to 19,963 shares valued at about $4.33 million.
• Several other institutional investors also boosted their positions, and overall hedge funds and institutions own 90.54% of NXP Semiconductors’ stock, underscoring strong institutional interest.
• NXP reported solid quarterly results, with EPS of $3.05 beating estimates and revenue rising 12.2% year over year; analysts currently rate the stock Moderate Buy with an average price target of $294.25.

Allstate Corp increased its position in NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 114.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,963 shares of the semiconductor provider's stock after purchasing an additional 10,633 shares during the quarter. Allstate Corp's holdings in NXP Semiconductors were worth $4,333,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in NXPI. MGO One Seven LLC raised its stake in NXP Semiconductors by 63.0% during the fourth quarter. MGO One Seven LLC now owns 13,870 shares of the semiconductor provider's stock valued at $3,011,000 after buying an additional 5,359 shares during the last quarter. Teacher Retirement System of Texas raised its stake in NXP Semiconductors by 16.4% during the fourth quarter. Teacher Retirement System of Texas now owns 45,366 shares of the semiconductor provider's stock valued at $9,847,000 after buying an additional 6,379 shares during the last quarter. ING Groep NV raised its stake in NXP Semiconductors by 27.5% during the third quarter. ING Groep NV now owns 104,850 shares of the semiconductor provider's stock valued at $23,877,000 after buying an additional 22,631 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in NXP Semiconductors by 21.8% during the third quarter. Dimensional Fund Advisors LP now owns 2,227,516 shares of the semiconductor provider's stock valued at $507,241,000 after buying an additional 398,250 shares during the last quarter. Finally, Cibc World Market Inc. raised its stake in NXP Semiconductors by 293.6% during the third quarter. Cibc World Market Inc. now owns 38,543 shares of the semiconductor provider's stock valued at $8,777,000 after buying an additional 28,751 shares during the last quarter. Hedge funds and other institutional investors own 90.54% of the company's stock.

Analysts Set New Price Targets

NXPI has been the subject of a number of recent research reports. Mizuho lifted their price objective on NXP Semiconductors from $188.00 to $200.00 and gave the company an "underperform" rating in a research note on Wednesday, April 29th. Truist Financial lifted their price objective on NXP Semiconductors from $255.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Citigroup lifted their price objective on NXP Semiconductors from $255.00 to $270.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Wall Street Zen upgraded NXP Semiconductors from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Finally, Sanford C. Bernstein lifted their price objective on NXP Semiconductors from $240.00 to $270.00 and gave the company a "market perform" rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $294.25.

NXP Semiconductors Stock Up 5.1%

NXP Semiconductors stock opened at $332.67 on Wednesday. The firm has a market cap of $83.99 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 1.14 and a beta of 1.77. The stock has a fifty day simple moving average of $240.08 and a two-hundred day simple moving average of $228.08. NXP Semiconductors N.V. has a 12 month low of $183.00 and a 12 month high of $334.90. The company has a current ratio of 2.24, a quick ratio of 1.55 and a debt-to-equity ratio of 1.00.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last posted its earnings results on Wednesday, April 29th. The semiconductor provider reported $3.05 EPS for the quarter, topping analysts' consensus estimates of $2.98 by $0.07. NXP Semiconductors had a return on equity of 26.75% and a net margin of 21.03%.The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the company earned $2.64 EPS. The company's quarterly revenue was up 12.2% compared to the same quarter last year. Equities analysts predict that NXP Semiconductors N.V. will post 13.38 EPS for the current fiscal year.

NXP Semiconductors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 9th. Investors of record on Wednesday, March 25th were issued a $1.014 dividend. The ex-dividend date of this dividend was Wednesday, March 25th. This represents a $4.06 annualized dividend and a dividend yield of 1.2%. NXP Semiconductors's payout ratio is presently 38.85%.

Insider Buying and Selling

In related news, EVP Andrew Hardy sold 5,289 shares of NXP Semiconductors stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $235.00, for a total value of $1,242,915.00. Following the completion of the sale, the executive vice president owned 2,020 shares of the company's stock, valued at $474,700. The trade was a 72.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher L. Jensen sold 4,576 shares of NXP Semiconductors stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $234.03, for a total value of $1,070,921.28. Following the completion of the sale, the executive vice president directly owned 5,389 shares of the company's stock, valued at $1,261,187.67. The trade was a 45.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 10,865 shares of company stock valued at $2,508,416 over the last 90 days. Company insiders own 0.12% of the company's stock.

NXP Semiconductors Profile

NXP Semiconductors N.V. is a global semiconductor company headquartered in Eindhoven, the Netherlands, that designs and supplies mixed-signal and standard product solutions for a broad range of end markets. The company focuses on enabling secure connections and infrastructure for embedded applications, developing technologies used across automotive, industrial and Internet of Things (IoT), mobile, and communication infrastructure segments. NXP's offerings target customers that require reliable, secure, and high-performance semiconductor components for connected devices and systems.

Product lines include microcontrollers and application processors, secure elements and authentication technologies, RF and high-power analog components, connectivity solutions, and vehicle networking and infotainment systems.

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