State of Alaska Department of Revenue Buys New Shares in NXP Semiconductors N.V. $NXPI

Key Points

• Alaska’s Department of Revenue purchased 23,889 NXP shares worth approximately $5.67 million during the third quarter. Institutional investors collectively own 90.54% of the company.
• NXP reported quarterly earnings of $3.61 per share and revenue of $3.50 billion, exceeding analyst estimates, while revenue increased 19.5% year over year.
• The stock traded near $229.33, below its 52-week high of $339.95. Analysts maintain a consensus “Moderate Buy” rating with a $304.91 price target, and NXP pays an annualized dividend of $4.06 per share.

State of Alaska Department of Revenue purchased a new stake 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 SEC. The institutional investor purchased 23,889 shares of the semiconductor provider's stock, valued at approximately $5,674,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of NXP Semiconductors during the second quarter valued at $6,716,412,000. State Street Corp raised its stake in NXP Semiconductors by 6.4% in the 2nd quarter. State Street Corp now owns 11,699,143 shares of the semiconductor provider's stock worth $3,298,932,000 after acquiring an additional 702,099 shares during the last quarter. Invesco Ltd. raised its stake in NXP Semiconductors by 17.2% in the 4th quarter. Invesco Ltd. now owns 5,574,672 shares of the semiconductor provider's stock worth $1,210,038,000 after acquiring an additional 818,985 shares during the last quarter. Bank of America Corp DE acquired a new stake in NXP Semiconductors during the 2nd quarter worth about $1,169,846,000. Finally, Van ECK Associates Corp acquired a new stake in NXP Semiconductors during the 2nd quarter worth about $1,167,458,000. Hedge funds and other institutional investors own 90.54% of the company's stock.

NXP Semiconductors Stock Performance

NASDAQ:NXPI traded down $1.76 during mid-day trading on Friday, hitting $229.33. The company's stock had a trading volume of 4,575,847 shares, compared to its average volume of 3,314,961. NXP Semiconductors N.V. has a 1 year low of $183.00 and a 1 year high of $339.95. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.04 and a quick ratio of 1.36. The stock has a market cap of $57.83 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 0.78 and a beta of 1.80. The business's fifty day moving average is $229.94 and its two-hundred day moving average is $255.96.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The semiconductor provider reported $3.61 earnings per share for the quarter, beating analysts' consensus estimates of $3.52 by $0.09. The business had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.47 billion. NXP Semiconductors had a return on equity of 27.83% and a net margin of 22.56%. The company's revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the business posted $2.72 EPS. Analysts anticipate that NXP Semiconductors N.V. will post 13.75 EPS for the current fiscal year.

NXP Semiconductors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Wednesday, September 16th were issued a dividend of $1.0140 per share. This represents a $4.06 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Wednesday, September 16th. NXP Semiconductors's dividend payout ratio (DPR) is 34.64%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NXPI. UBS Group reissued a "neutral" rating and issued a $270.00 price objective (down from $305.00) on shares of NXP Semiconductors in a report on Monday, August 3rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of NXP Semiconductors in a research report on Friday, July 31st. Sanford C. Bernstein reiterated a "market perform" rating and issued a $290.00 target price (up from $270.00) on shares of NXP Semiconductors in a research report on Wednesday, July 29th. Oppenheimer increased their price target on shares of NXP Semiconductors from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Finally, TD Cowen reduced their price target on shares of NXP Semiconductors from $340.00 to $290.00 and set a "buy" rating for the company in a research report on Wednesday, July 29th. Sixteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $304.91.

Insider Activity

In other NXP Semiconductors news, EVP Andrew Micallef sold 1,000 shares of the business'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 value of $226,040.00. Following the completion of the transaction, the executive vice president directly owned 7,942 shares of the company's stock, valued at approximately $1,795,209.68. The trade was a 11.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher L. Jensen sold 3,355 shares of the company's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $240.00, for a total value of $805,200.00. Following the completion of the sale, the executive vice president owned 288 shares in the company, valued at approximately $69,120. This represents a 92.09% 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. 0.05% of the stock is owned by company insiders.

NXP Semiconductors Profile

NXP Semiconductors N.V. is a global semiconductor company headquartered in Eindhoven, the Netherlands. The company develops and supplies secure connectivity and processing solutions for automotive, industrial and Internet of Things (IoT), mobile, and communication infrastructure applications.

Its product portfolio includes microcontrollers and application processors, automotive networking and processing chips, analog and power-management devices, radio-frequency and wireless connectivity products, sensors, and embedded security solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.