Norges Bank Makes New $672.22 Million Investment in NXP Semiconductors (NASDAQ:NXPI)

Norges Bank acquired a new stake in NXP Semiconductors (NASDAQ:NXPI) during the fourth quarter, Holdings Channel.com reports. The firm acquired 3,234,177 shares of the semiconductor provider’s stock, valued at approximately $672,224,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. ORG Wealth Partners LLC increased its holdings in NXP Semiconductors by 915.4% in the fourth quarter. ORG Wealth Partners LLC now owns 132 shares of the semiconductor provider’s stock valued at $27,000 after buying an additional 119 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in NXP Semiconductors by 169.2% during the 4th quarter. Sound Income Strategies LLC now owns 140 shares of the semiconductor provider’s stock worth $29,000 after buying an additional 88 shares during the last quarter. Smithfield Trust Co acquired a new position in shares of NXP Semiconductors during the 4th quarter worth about $32,000. Runnymede Capital Advisors Inc. purchased a new position in shares of NXP Semiconductors in the 4th quarter valued at about $32,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of NXP Semiconductors during the 3rd quarter worth about $33,000. 90.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Barclays reduced their price target on shares of NXP Semiconductors from $280.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Mizuho upped their target price on NXP Semiconductors from $240.00 to $255.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. dropped 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. Morgan Stanley upgraded NXP Semiconductors from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $231.00 to $257.00 in a research note on Wednesday, February 12th. Finally, Truist Financial raised their target price on shares of NXP Semiconductors from $245.00 to $258.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, NXP Semiconductors currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.00.

NXP Semiconductors Trading Down 2.8 %

Shares of NXPI stock opened at $200.06 on Friday. The business’s fifty day moving average price is $215.18 and its 200 day moving average price is $222.30. The firm has a market capitalization of $50.74 billion, a PE ratio of 20.56, a P/E/G ratio of 3.01 and a beta of 1.47. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.36 and a quick ratio of 1.60. NXP Semiconductors has a 1-year low of $196.95 and a 1-year high of $296.08.

NXP Semiconductors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 19th will be issued a $1.014 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 2.03%. NXP Semiconductors’s dividend payout ratio is presently 41.62%.

Insider Activity at NXP Semiconductors

In other NXP Semiconductors news, COO Andrew Micallef sold 1,000 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $204.86, for a total transaction of $204,860.00. Following the transaction, the chief operating officer now directly owns 8,828 shares in the company, valued at approximately $1,808,504.08. This represents a 10.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.11% of the company’s stock.

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.