Louisiana State Employees Retirement System Makes New $5.79 Million Investment in NXP Semiconductors N.V. $NXPI

Key Points

• Louisiana State Employees Retirement System initiated a new position in NXP Semiconductors during the first quarter, buying 29,400 shares worth about $5.79 million.
• NXP reported strong quarterly results, with earnings of $3.05 per share and revenue of $3.18 billion, both topping analyst expectations; revenue rose 12.2% from a year earlier.
• The company also declared a quarterly dividend of $1.014 per share, and analysts remain largely bullish, with a consensus rating of Moderate Buy and an average target price of $300.08.

Louisiana State Employees Retirement System bought a new stake in shares of NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 29,400 shares of the semiconductor provider's stock, valued at approximately $5,788,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Ritholtz Wealth Management boosted its position in NXP Semiconductors by 10.0% during the 1st quarter. Ritholtz Wealth Management now owns 3,779 shares of the semiconductor provider's stock valued at $744,000 after acquiring an additional 343 shares in the last quarter. Watchman Group Inc. lifted its stake in shares of NXP Semiconductors by 9.9% in the 1st quarter. Watchman Group Inc. now owns 15,594 shares of the semiconductor provider's stock valued at $3,070,000 after purchasing an additional 1,409 shares during the period. RFG Advisory LLC lifted its stake in shares of NXP Semiconductors by 3.0% in the 1st quarter. RFG Advisory LLC now owns 3,060 shares of the semiconductor provider's stock valued at $602,000 after purchasing an additional 90 shares during the period. Fifth Third Wealth Advisors LLC boosted its position in shares of NXP Semiconductors by 5.7% during the first quarter. Fifth Third Wealth Advisors LLC now owns 3,320 shares of the semiconductor provider's stock valued at $654,000 after purchasing an additional 180 shares in the last quarter. Finally, Apella Capital LLC bought a new stake in shares of NXP Semiconductors during the first quarter valued at approximately $299,000. Hedge funds and other institutional investors own 90.54% of the company's stock.

Insider Activity

In other news, EVP Andrew Hardy sold 5,289 shares of NXP Semiconductors stock in a transaction that occurred on Thursday, April 23rd. The shares were 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 directly owned 2,020 shares in the company, 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 through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher L. Jensen sold 1,746 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $316.53, for a total transaction of $552,661.38. Following the transaction, the executive vice president directly owned 3,643 shares of the company's stock, valued at $1,153,118.79. The trade was a 32.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 12,611 shares of company stock valued at $3,182,068 in the last 90 days. 0.05% of the stock is currently owned by insiders.

NXP Semiconductors Stock Performance

Shares of NXPI stock opened at $277.02 on Friday. The company has a market capitalization of $69.94 billion, a price-to-earnings ratio of 26.51, a price-to-earnings-growth ratio of 1.08 and a beta of 1.77. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.55 and a current ratio of 2.24. NXP Semiconductors N.V. has a one year low of $183.00 and a one year high of $339.95. The company's 50-day moving average is $290.93 and its 200 day moving average is $245.06.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The semiconductor provider reported $3.05 earnings per share for the quarter, topping analysts' consensus estimates of $2.98 by $0.07. NXP Semiconductors had a net margin of 21.03% and a return on equity of 26.75%. The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the business earned $2.64 EPS. The firm's revenue for the quarter was up 12.2% on a year-over-year basis. Sell-side analysts expect that NXP Semiconductors N.V. will post 13.4 EPS for the current fiscal year.

NXP Semiconductors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 24th will be issued a dividend of $1.014 per share. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, June 24th. NXP Semiconductors's dividend payout ratio (DPR) is presently 38.85%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. The Goldman Sachs Group reiterated a "buy" rating on shares of NXP Semiconductors in a report on Wednesday, April 29th. Citigroup upped their target price on shares of NXP Semiconductors from $270.00 to $370.00 and gave the stock a "buy" rating in a research report on Tuesday. Barclays increased their price target on shares of NXP Semiconductors from $295.00 to $340.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 5th. Truist Financial boosted their price objective on shares of NXP Semiconductors from $255.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Finally, Wells Fargo & Company upped their price objective on shares of NXP Semiconductors from $265.00 to $305.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $300.08.

About NXP Semiconductors

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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