KLP Kapitalforvaltning AS Buys New Position in NXP Semiconductors (NASDAQ:NXPI)

KLP Kapitalforvaltning AS bought a new stake in shares of NXP Semiconductors (NASDAQ:NXPI - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 88,214 shares of the semiconductor provider's stock, valued at approximately $18,411,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NXPI. State Street Corp grew its holdings in NXP Semiconductors by 1.3% in the third quarter. State Street Corp now owns 10,675,415 shares of the semiconductor provider's stock valued at $2,572,694,000 after purchasing an additional 139,641 shares during the period. Geode Capital Management LLC increased its holdings in NXP Semiconductors by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 5,145,932 shares of the semiconductor provider's stock worth $1,231,533,000 after acquiring an additional 57,762 shares in the last quarter. Franklin Resources Inc. increased its holdings in NXP Semiconductors by 2.1% in the 3rd quarter. Franklin Resources Inc. now owns 4,459,689 shares of the semiconductor provider's stock worth $1,063,322,000 after acquiring an additional 93,129 shares in the last quarter. Van ECK Associates Corp raised its position in NXP Semiconductors by 27.1% during the fourth quarter. Van ECK Associates Corp now owns 3,865,446 shares of the semiconductor provider's stock worth $803,432,000 after acquiring an additional 824,317 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in NXP Semiconductors by 0.7% during the third quarter. Janus Henderson Group PLC now owns 2,730,933 shares of the semiconductor provider's stock valued at $655,453,000 after purchasing an additional 20,145 shares in the last quarter. Hedge funds and other institutional investors own 90.54% of the company's stock.

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NXP Semiconductors Trading Down 5.0 %

NXPI stock traded down $10.07 during midday trading on Friday, hitting $189.99. 4,260,658 shares of the company's stock were exchanged, compared to its average volume of 2,423,697. NXP Semiconductors has a 1-year low of $187.78 and a 1-year high of $296.08. The company has a current ratio of 2.36, a quick ratio of 1.60 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $48.19 billion, a PE ratio of 19.53, a P/E/G ratio of 3.01 and a beta of 1.47. The business has a 50-day simple moving average of $214.68 and a two-hundred day simple moving average of $222.01.

NXP Semiconductors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 19th will be given a dividend of $1.014 per share. This represents a $4.06 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Wednesday, March 19th. NXP Semiconductors's payout ratio is 41.62%.

Insider Buying and Selling at NXP Semiconductors

In related news, COO Andrew Micallef sold 1,000 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $204.86, for a total transaction of $204,860.00. Following the completion of the transaction, the chief operating officer now owns 8,828 shares of the company's stock, valued at approximately $1,808,504.08. This trade represents a 10.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.11% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NXPI. Needham & Company LLC reduced their price target on shares of NXP Semiconductors from $250.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, February 5th. StockNews.com cut NXP Semiconductors from a "buy" rating to a "hold" rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price target on NXP Semiconductors from $260.00 to $240.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. Citigroup raised NXP Semiconductors from a "neutral" rating to a "buy" rating and increased their price objective for the company from $210.00 to $290.00 in a research note on Thursday, February 20th. Finally, Arete Research raised shares of NXP Semiconductors to a "strong-buy" rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $267.00.

About NXP Semiconductors

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.