State of Michigan Retirement System Makes New Investment in NXP Semiconductors N.V. $NXPI

Key Points

• The State of Michigan Retirement System opened a new position in NXP Semiconductors during the first quarter, buying 76,868 shares worth about $15.1 million.
• Insider selling was reported by two EVP executives, with Andrew Hardy and Christopher L. Jensen selling shares under pre-arranged Rule 10b5-1 plans; insiders have sold 12,611 shares over the past 90 days.
• Wall Street sentiment remains constructive: several analysts raised price targets, and NXP recently beat quarterly earnings and revenue estimates, while the stock was trading up about 2% in the article.

State of Michigan Retirement System bought a new position in NXP Semiconductors N.V. (NASDAQ:NXPI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 76,868 shares of the semiconductor provider's stock, valued at approximately $15,132,000.

Other hedge funds have also modified their holdings of the company. MCF Advisors LLC grew its position in NXP Semiconductors by 25.3% in the fourth quarter. MCF Advisors LLC now owns 213 shares of the semiconductor provider's stock valued at $46,000 after acquiring an additional 43 shares in the last quarter. Aptus Capital Advisors LLC raised its stake in shares of NXP Semiconductors by 1.3% during the fourth quarter. Aptus Capital Advisors LLC now owns 3,464 shares of the semiconductor provider's stock valued at $752,000 after purchasing an additional 43 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of NXP Semiconductors by 0.6% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,426 shares of the semiconductor provider's stock worth $1,829,000 after purchasing an additional 50 shares in the last quarter. IHT Wealth Management LLC lifted its position in shares of NXP Semiconductors by 4.6% during the second quarter. IHT Wealth Management LLC now owns 1,193 shares of the semiconductor provider's stock worth $261,000 after purchasing an additional 52 shares in the last quarter. Finally, Equitable Holdings Inc. boosted its stake in shares of NXP Semiconductors by 1.4% in the fourth quarter. Equitable Holdings Inc. now owns 3,813 shares of the semiconductor provider's stock valued at $828,000 after purchasing an additional 54 shares during the period. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Andrew Hardy sold 5,289 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 2,020 shares in the company, valued at $474,700. This represents a 72.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher L. Jensen sold 4,576 shares of the stock in a transaction dated Thursday, April 23rd. The shares were 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 owned 5,389 shares of the company's stock, valued at $1,261,187.67. This represents 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. Over the last ninety days, insiders have sold 12,611 shares of company stock valued at $3,182,068. Company insiders own 0.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of NXP Semiconductors from $215.00 to $250.00 and gave the company a "hold" rating in a report on Friday, April 24th. TD Cowen lifted their price objective on shares of NXP Semiconductors from $310.00 to $340.00 and gave the stock a "buy" rating in a report on Monday. Truist Financial boosted their target price on shares of NXP Semiconductors from $255.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Jefferies Financial Group increased their target price on shares of NXP Semiconductors from $265.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Finally, Oppenheimer raised their price target on shares of NXP Semiconductors from $250.00 to $300.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, NXP Semiconductors presently has a consensus rating of "Moderate Buy" and an average target price of $307.27.

NXP Semiconductors Trading Up 2.0%

Shares of NASDAQ NXPI opened at $283.87 on Wednesday. The company has a market cap of $71.67 billion, a price-to-earnings ratio of 27.16, a price-to-earnings-growth ratio of 1.00 and a beta of 1.79. NXP Semiconductors N.V. has a 12-month low of $183.00 and a 12-month high of $339.95. 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 stock's 50 day simple moving average is $299.70 and its 200 day simple moving average is $249.65.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The semiconductor provider reported $3.05 earnings per share (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 period in the prior year, the company posted $2.64 EPS. The business's revenue for the quarter was up 12.2% compared to the same quarter last year. Equities research analysts expect that NXP Semiconductors N.V. will post 13.4 EPS for the current year.

NXP Semiconductors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Wednesday, June 24th were paid a $1.014 dividend. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $4.06 annualized dividend and a dividend yield of 1.4%. NXP Semiconductors's dividend payout ratio is presently 38.85%.

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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