California State Teachers Retirement System Boosts Stake in NXP Semiconductors N.V. $NXPI

Key Points

• California State Teachers Retirement System dramatically increased its NXP Semiconductors stake by acquiring 106.3 million additional shares, bringing its ownership to about 42.28%, valued at nearly $30 billion.
• NXP reported quarterly EPS of $3.61 and revenue of $3.50 billion, exceeding analyst expectations; revenue rose 19.5% year over year.
• The company declared a quarterly dividend of $1.014 per share, equivalent to an annualized $4.06 payout and a 1.8% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $305.43.

California State Teachers Retirement System raised its stake in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 29,659.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,611,541 shares of the semiconductor provider's stock after acquiring an additional 106,253,301 shares during the quarter. California State Teachers Retirement System owned approximately 42.28% of NXP Semiconductors worth $29,961,041,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in NXPI. JPL Wealth Management LLC bought a new position in NXP Semiconductors in the third quarter worth about $26,000. SHP Wealth Management bought a new stake in shares of NXP Semiconductors in the 4th quarter valued at about $27,000. Allied Private Wealth LLC purchased a new position in NXP Semiconductors in the second quarter worth $28,000. Fiduciary Financial Advisors acquired a new position in NXP Semiconductors during the 2nd quarter valued at about $28,000. Finally, Acumen Wealth Advisors LLC acquired a new position in NXP Semiconductors during the 4th quarter valued at approximately $28,000. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

NXP Semiconductors Price Performance

Shares of NASDAQ:NXPI opened at $227.84 on Tuesday. The company has a 50-day moving average price of $249.19 and a 200 day moving average price of $251.73. NXP Semiconductors N.V. has a 52 week low of $183.00 and a 52 week high of $339.95. The company has a market cap of $57.45 billion, a P/E ratio of 19.44, a PEG ratio of 0.77 and a beta of 1.81. The company has a quick ratio of 1.36, a current ratio of 2.04 and a debt-to-equity ratio of 0.88.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The semiconductor provider reported $3.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.52 by $0.09. NXP Semiconductors had a net margin of 22.56% and a return on equity of 27.83%. The business had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter last year, the firm posted $2.72 EPS. The business's revenue was up 19.5% compared to the same quarter last year. Research analysts predict that NXP Semiconductors N.V. will post 13.73 earnings per share for the current year.

NXP Semiconductors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 16th will be issued a dividend of $1.014 per share. The ex-dividend date is Wednesday, September 16th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.8%. NXP Semiconductors's payout ratio is presently 34.64%.

Insider Buying and Selling

In other NXP Semiconductors news, EVP Andrew Micallef sold 1,000 shares of NXP Semiconductors stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $315.57, for a total transaction of $315,570.00. Following the transaction, the executive vice president directly owned 8,942 shares of the company's stock, valued at $2,821,826.94. The trade was a 10.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.05% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of NXP Semiconductors from $290.00 to $280.00 and set an "equal weight" rating for the company in a report on Wednesday, July 29th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $400.00 target price on shares of NXP Semiconductors in a research report on Monday, August 17th. Sanford C. Bernstein reissued a "market perform" rating and set a $290.00 price objective on shares of NXP Semiconductors in a research note on Wednesday, July 29th. Needham & Company LLC reissued a "buy" rating and set a $300.00 target price on shares of NXP Semiconductors in a research note on Wednesday, July 29th. Finally, Wall Street Zen upgraded NXP Semiconductors from a "hold" rating to a "buy" rating in a report on Sunday. Sixteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $305.43.

NXP Semiconductors Company 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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