NXP Semiconductors N.V. $NXPI Stock Position Trimmed by Employees Retirement System of Texas

Key Points

• Employees Retirement System of Texas trimmed its NXP Semiconductors stake by 19.2% in the fourth quarter, selling 58,341 shares and leaving it with 245,181 shares worth about $53.2 million.
• Analysts remain broadly positive on NXPI, with an average “Moderate Buy” rating and a consensus price target of $294.25 after several firms raised targets recently.
• NXP posted solid quarterly results, beating earnings and revenue estimates with EPS of $3.05 on $3.18 billion in revenue, while the stock also recently paid a quarterly dividend of $1.014 per share.

Employees Retirement System of Texas cut its position in NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) by 19.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 245,181 shares of the semiconductor provider's stock after selling 58,341 shares during the quarter. Employees Retirement System of Texas owned about 0.10% of NXP Semiconductors worth $53,219,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NXPI. Brighton Jones LLC lifted its position in NXP Semiconductors by 20.6% in the 4th quarter. Brighton Jones LLC now owns 1,276 shares of the semiconductor provider's stock valued at $265,000 after purchasing an additional 218 shares during the last quarter. NewEdge Advisors LLC lifted its position in NXP Semiconductors by 3.4% in the 1st quarter. NewEdge Advisors LLC now owns 7,021 shares of the semiconductor provider's stock valued at $1,334,000 after purchasing an additional 234 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in NXP Semiconductors by 31.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 777 shares of the semiconductor provider's stock valued at $170,000 after purchasing an additional 187 shares during the last quarter. Marshall Wace LLP lifted its position in NXP Semiconductors by 887.0% in the 2nd quarter. Marshall Wace LLP now owns 36,659 shares of the semiconductor provider's stock valued at $8,010,000 after purchasing an additional 32,945 shares during the last quarter. Finally, Gamco Investors INC. ET AL bought a new stake in NXP Semiconductors in the 2nd quarter valued at about $555,000. 90.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Susquehanna lifted their price objective on shares of NXP Semiconductors from $210.00 to $250.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Oppenheimer lifted their price objective on shares of NXP Semiconductors from $250.00 to $300.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Cantor Fitzgerald lifted their price objective on shares of NXP Semiconductors from $380.00 to $400.00 and gave the company an "overweight" rating in a research report on Wednesday, May 13th. Bank of America reissued a "neutral" rating and set a $230.00 target price (down from $245.00) on shares of NXP Semiconductors in a research note on Monday, April 13th. Finally, Citigroup raised their target price on shares of NXP Semiconductors from $255.00 to $270.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, NXP Semiconductors presently has an average rating of "Moderate Buy" and an average target price of $294.25.

NXP Semiconductors Stock Up 5.1%

NXP Semiconductors stock opened at $332.67 on Wednesday. The stock 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 company has a current ratio of 2.24, a quick ratio of 1.55 and a debt-to-equity ratio of 1.00. The company's 50-day moving average price is $240.08 and its two-hundred day moving average price is $228.08. NXP Semiconductors N.V. has a 52 week low of $183.00 and a 52 week high of $334.90.

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

NXP Semiconductors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Wednesday, March 25th were paid 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 currently 38.85%.

Insider Transactions at NXP Semiconductors

In other news, EVP Andrew Micallef sold 1,000 shares of NXP Semiconductors stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $194.58, for a total value of $194,580.00. Following the transaction, the executive vice president owned 9,942 shares of the company's stock, valued at $1,934,514.36. The trade was a 9.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Christopher L. Jensen sold 4,576 shares of NXP Semiconductors stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $234.03, for a total transaction of $1,070,921.28. Following the completion of the transaction, the executive vice president directly owned 5,389 shares in the company, valued at $1,261,187.67. This represents a 45.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 10,865 shares of company stock valued at $2,508,416 in the last quarter. Insiders own 0.12% of the company's stock.

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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