State of Michigan Retirement System Has $19.03 Million Stake in NXP Semiconductors (NASDAQ:NXPI)

State of Michigan Retirement System grew its position in NXP Semiconductors (NASDAQ:NXPI) by 2.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,868 shares of the semiconductor provider’s stock after buying an additional 2,000 shares during the quarter. State of Michigan Retirement System’s holdings in NXP Semiconductors were worth $19,033,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NXPI. FMR LLC increased its position in NXP Semiconductors by 0.4% during the 3rd quarter. FMR LLC now owns 25,779,812 shares of the semiconductor provider’s stock worth $5,153,900,000 after purchasing an additional 91,453 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of NXP Semiconductors by 2.0% during the first quarter. Vanguard Group Inc. now owns 10,793,360 shares of the semiconductor provider’s stock worth $1,997,635,000 after buying an additional 210,979 shares in the last quarter. State Street Corp lifted its stake in shares of NXP Semiconductors by 1.8% in the 2nd quarter. State Street Corp now owns 10,194,157 shares of the semiconductor provider’s stock valued at $2,096,655,000 after acquiring an additional 182,173 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of NXP Semiconductors by 2.2% during the 1st quarter. Geode Capital Management LLC now owns 4,611,435 shares of the semiconductor provider’s stock valued at $857,868,000 after acquiring an additional 98,570 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in NXP Semiconductors by 44.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,417,231 shares of the semiconductor provider’s stock worth $823,704,000 after acquiring an additional 1,360,582 shares during the last quarter. 90.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NXPI has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price target on NXP Semiconductors from $190.00 to $210.00 and gave the company a “hold” rating in a research note on Tuesday, January 2nd. TD Cowen boosted their target price on shares of NXP Semiconductors from $270.00 to $300.00 and gave the stock an “outperform” rating in a report on Tuesday, March 12th. Mizuho raised their price target on shares of NXP Semiconductors from $220.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. JPMorgan Chase & Co. boosted their price objective on shares of NXP Semiconductors from $220.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Finally, Barclays raised NXP Semiconductors from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $200.00 to $260.00 in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $238.75.

NXP Semiconductors Stock Down 2.2 %

NASDAQ:NXPI traded down $5.36 on Tuesday, hitting $240.92. The stock had a trading volume of 727,586 shares, compared to its average volume of 2,374,758. The company has a market cap of $61.79 billion, a PE ratio of 23.00, a P/E/G ratio of 0.93 and a beta of 1.59. NXP Semiconductors has a 52 week low of $155.31 and a 52 week high of $264.26. The business’s fifty day moving average is $236.35 and its 200 day moving average is $214.74. The company has a quick ratio of 1.39, a current ratio of 1.91 and a debt-to-equity ratio of 1.14.

NXP Semiconductors (NASDAQ:NXPI) last announced 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. NXP Semiconductors had a net margin of 21.07% and a return on equity of 38.94%. The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.40 billion. On average, equities research analysts expect that NXP Semiconductors will post 12.28 EPS for the current fiscal year.

NXP Semiconductors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Shareholders of record on Thursday, March 21st will be issued a dividend of $1.014 per share. This represents a $4.06 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, March 20th. NXP Semiconductors’s dividend payout ratio is currently 37.91%.

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.