State of Michigan Retirement System Sells 1,300 Shares of NXP Semiconductors (NASDAQ:NXPI)

State of Michigan Retirement System lowered its stake in NXP Semiconductors (NASDAQ:NXPI) by 1.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,568 shares of the semiconductor provider’s stock after selling 1,300 shares during the period. State of Michigan Retirement System’s holdings in NXP Semiconductors were worth $21,949,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in NXPI. Federated Hermes Inc. grew its holdings in NXP Semiconductors by 11.7% during the fourth quarter. Federated Hermes Inc. now owns 1,355 shares of the semiconductor provider’s stock valued at $311,000 after purchasing an additional 142 shares during the last quarter. CWM LLC lifted its position in NXP Semiconductors by 3.3% during the 4th quarter. CWM LLC now owns 4,317 shares of the semiconductor provider’s stock worth $992,000 after acquiring an additional 136 shares during the last quarter. GAMMA Investing LLC bought a new stake in NXP Semiconductors during the fourth quarter valued at about $145,000. Atria Wealth Solutions Inc. boosted its holdings in NXP Semiconductors by 9.8% during the fourth quarter. Atria Wealth Solutions Inc. now owns 9,174 shares of the semiconductor provider’s stock valued at $2,111,000 after acquiring an additional 821 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of NXP Semiconductors in the fourth quarter valued at about $393,000. Institutional investors own 90.54% of the company’s stock.

NXP Semiconductors Price Performance

Shares of NXP Semiconductors stock opened at $249.84 on Tuesday. NXP Semiconductors has a 1-year low of $167.21 and a 1-year high of $296.08. The firm’s 50-day moving average price is $261.16 and its two-hundred day moving average price is $254.84. The company has a current ratio of 2.21, a quick ratio of 1.52 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $63.88 billion, a price-to-earnings ratio of 23.07, a P/E/G ratio of 2.63 and a beta of 1.49.

NXP Semiconductors (NASDAQ:NXPI) last released its quarterly earnings results on Monday, July 22nd. The semiconductor provider reported $3.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.38. The firm had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.13 billion. NXP Semiconductors had a return on equity of 35.65% and a net margin of 21.21%. The business’s revenue was down 5.2% on a year-over-year basis. During the same period last year, the firm posted $3.04 EPS. On average, equities analysts predict that NXP Semiconductors will post 12 earnings per share for the current fiscal year.

NXP Semiconductors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Thursday, June 13th were given a $1.014 dividend. This represents a $4.06 annualized dividend and a yield of 1.62%. The ex-dividend date was Thursday, June 13th. NXP Semiconductors’s payout ratio is presently 37.40%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on NXP Semiconductors from $240.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Cantor Fitzgerald reiterated an “overweight” rating and set a $350.00 target price on shares of NXP Semiconductors in a research note on Tuesday, July 23rd. Evercore ISI boosted their price objective on shares of NXP Semiconductors from $300.00 to $370.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. The Goldman Sachs Group lifted their target price on NXP Semiconductors from $240.00 to $275.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, Barclays upped their price target on NXP Semiconductors from $280.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $294.89.

Insiders Place Their Bets

In related news, insider Julie Southern purchased 146 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was acquired at an average price of $257.54 per share, with a total value of $37,600.84. Following the completion of the acquisition, the insider now directly owns 11,297 shares in the company, valued at approximately $2,909,429.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Kurt Sievers sold 8,548 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $275.75, for a total transaction of $2,357,111.00. Following the completion of the sale, the chief executive officer now directly owns 177,889 shares of the company’s stock, valued at $49,052,891.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Julie Southern acquired 146 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was acquired at an average price of $257.54 per share, for a total transaction of $37,600.84. Following the completion of the acquisition, the insider now directly owns 11,297 shares of the company’s stock, valued at $2,909,429.38. The disclosure for this purchase can be found here. Insiders own 0.11% of the company’s stock.

NXP Semiconductors Company 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.