Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in NXP Semiconductors (NASDAQ:NXPI)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in NXP Semiconductors (NASDAQ:NXPI - Free Report) by 15.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 220,603 shares of the semiconductor provider's stock after purchasing an additional 29,279 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.09% of NXP Semiconductors worth $50,668,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in NXPI. Norges Bank purchased a new position in NXP Semiconductors during the fourth quarter worth about $326,580,000. Moneta Group Investment Advisors LLC purchased a new position in NXP Semiconductors during the fourth quarter worth about $267,123,000. Price T Rowe Associates Inc. MD grew its position in NXP Semiconductors by 44.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,417,231 shares of the semiconductor provider's stock worth $823,704,000 after buying an additional 1,360,582 shares in the last quarter. Barclays PLC grew its position in NXP Semiconductors by 94.6% during the second quarter. Barclays PLC now owns 1,143,813 shares of the semiconductor provider's stock worth $234,116,000 after buying an additional 556,178 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in NXP Semiconductors during the first quarter worth about $98,687,000. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NXPI has been the subject of a number of research reports. Truist Financial upped their price objective on NXP Semiconductors from $264.00 to $265.00 and gave the stock a "buy" rating in a report on Wednesday, February 7th. Barclays upgraded NXP Semiconductors from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $200.00 to $260.00 in a report on Tuesday, January 16th. Stifel Nicolaus boosted their target price on NXP Semiconductors from $190.00 to $210.00 and gave the company a "hold" rating in a research note on Tuesday, January 2nd. Wolfe Research raised NXP Semiconductors from a "peer perform" rating to an "outperform" rating and set a $255.00 target price for the company in a research note on Thursday, January 18th. Finally, TD Cowen boosted their target price on NXP Semiconductors from $270.00 to $300.00 and gave the company an "outperform" rating in a research note on Tuesday, March 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $242.29.

NXP Semiconductors Stock Performance

NXP Semiconductors stock traded down $3.76 during trading on Wednesday, reaching $226.92. The company had a trading volume of 1,970,923 shares, compared to its average volume of 2,309,611. NXP Semiconductors has a 52 week low of $155.31 and a 52 week high of $264.26. The firm's 50-day simple moving average is $241.93 and its 200 day simple moving average is $218.41. The firm has a market capitalization of $58.20 billion, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 0.87 and a beta of 1.59. The company has a current ratio of 1.91, a quick ratio of 1.39 and a debt-to-equity ratio of 1.14.

NXP Semiconductors (NASDAQ:NXPI - Get Free Report) last posted its quarterly earnings results on Monday, February 5th. The semiconductor provider reported $3.37 EPS for the quarter, beating analysts' consensus estimates of $3.33 by $0.04. The business had revenue of $3.42 billion for the quarter, compared to analysts' expectations of $3.40 billion. NXP Semiconductors had a return on equity of 38.94% and a net margin of 21.07%. Sell-side analysts forecast that NXP Semiconductors will post 12.28 earnings per share for the current fiscal year.

NXP Semiconductors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Thursday, March 21st were given a dividend of $1.014 per share. The ex-dividend date was Wednesday, March 20th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.79%. NXP Semiconductors's payout ratio is 37.91%.

NXP Semiconductors Profile

NXP Semiconductors N.V. offers various semiconductor products. The company's product portfolio includes microcontrollers; application processors, including i.MX application processors, and i.MX 8 and 9 family of applications processors; communication processors; wireless connectivity solutions, such as near field communications, ultra-wideband, Bluetooth low-energy, Zigbee, and Wi-Fi and Wi-Fi/Bluetooth integrated SoCs; analog and interface devices; radio frequency power amplifiers; and security controllers, as well as semiconductor-based environmental and inertial sensors, including pressure, inertial, magnetic, and gyroscopic sensors.