State of New Jersey Common Pension Fund D Cuts Stake in NXP Semiconductors (NASDAQ:NXPI)

State of New Jersey Common Pension Fund D lessened its stake in shares of NXP Semiconductors (NASDAQ:NXPI) by 35.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 93,012 shares of the semiconductor provider’s stock after selling 51,691 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in NXP Semiconductors were worth $25,029,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of NXP Semiconductors by 17.3% in the 1st quarter. Vanguard Group Inc. now owns 12,921,432 shares of the semiconductor provider’s stock worth $3,201,543,000 after purchasing an additional 1,909,898 shares during the period. Norges Bank bought a new stake in shares of NXP Semiconductors in the fourth quarter valued at $762,077,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of NXP Semiconductors by 893.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,332,578 shares of the semiconductor provider’s stock valued at $535,747,000 after buying an additional 2,097,727 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of NXP Semiconductors by 10.6% during the 2nd quarter. Van ECK Associates Corp now owns 1,818,393 shares of the semiconductor provider’s stock worth $489,312,000 after acquiring an additional 173,697 shares during the period. Finally, Putnam Investments LLC increased its holdings in NXP Semiconductors by 4.4% in the 4th quarter. Putnam Investments LLC now owns 1,564,236 shares of the semiconductor provider’s stock worth $359,274,000 after acquiring an additional 65,741 shares during the last quarter. Institutional investors own 90.54% of the company’s stock.

NXP Semiconductors Stock Performance

NASDAQ NXPI opened at $225.14 on Friday. NXP Semiconductors has a 52-week low of $167.21 and a 52-week high of $296.08. The company has a fifty day moving average of $253.38 and a 200-day moving average of $254.99. The company has a market capitalization of $57.56 billion, a P/E ratio of 20.79, a P/E/G ratio of 2.45 and a beta of 1.49. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.52 and a current ratio of 2.21.

NXP Semiconductors (NASDAQ:NXPI) last posted its quarterly earnings data on Monday, July 22nd. The semiconductor provider reported $3.20 earnings per share (EPS) for the quarter, topping 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 company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $3.04 EPS. As a group, equities research analysts predict that NXP Semiconductors will post 11.97 EPS for the current fiscal year.

NXP Semiconductors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Thursday, September 12th will be paid a $1.014 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.80%. NXP Semiconductors’s dividend payout ratio (DPR) is 37.40%.

Insider Activity at NXP Semiconductors

In other NXP Semiconductors news, insider Julie Southern purchased 146 shares of the stock in a transaction on Tuesday, July 30th. The stock was acquired at an average cost of $257.54 per share, with a total value of $37,600.84. Following the completion of the purchase, the insider now directly owns 11,297 shares of the company’s stock, valued at approximately $2,909,429.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NXPI has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on shares of NXP Semiconductors from $285.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. Stifel Nicolaus raised their price objective on shares of NXP Semiconductors from $240.00 to $275.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Citigroup raised their price target on NXP Semiconductors from $150.00 to $220.00 and gave the stock a “sell” rating in a report on Monday, July 15th. StockNews.com lowered NXP Semiconductors from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Oppenheimer raised their target price on NXP Semiconductors from $295.00 to $330.00 and gave the stock an “outperform” rating in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, NXP Semiconductors currently has a consensus rating of “Moderate Buy” and an average price target of $294.89.

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.