KLP Kapitalforvaltning AS Makes New $18.41 Million Investment in NXP Semiconductors (NASDAQ:NXPI)

KLP Kapitalforvaltning AS bought a new position in shares of NXP Semiconductors (NASDAQ:NXPI) during the 4th quarter, Holdings Channel reports. The fund bought 88,214 shares of the semiconductor provider’s stock, valued at approximately $18,411,000.

Several other institutional investors also recently made changes to their positions in the stock. State Street Corp boosted its position in shares of NXP Semiconductors by 1.3% during the 3rd quarter. State Street Corp now owns 10,675,415 shares of the semiconductor provider’s stock worth $2,572,694,000 after purchasing an additional 139,641 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of 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 buying an additional 57,762 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of 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 buying an additional 93,129 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of NXP Semiconductors by 27.1% in the 4th quarter. Van ECK Associates Corp now owns 3,865,446 shares of the semiconductor provider’s stock worth $803,432,000 after buying an additional 824,317 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of NXP Semiconductors by 0.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,730,933 shares of the semiconductor provider’s stock worth $655,453,000 after buying an additional 20,145 shares in the last quarter. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NXPI has been the topic of several recent research reports. Needham & Company LLC decreased their price objective on shares of NXP Semiconductors from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. Citigroup upgraded shares of NXP Semiconductors from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $210.00 to $290.00 in a research report on Thursday, February 20th. Morgan Stanley upgraded shares of NXP Semiconductors from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $231.00 to $257.00 in a research report on Wednesday, February 12th. Truist Financial boosted their price objective 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. Finally, Stifel Nicolaus reduced their target price on shares of NXP Semiconductors from $231.00 to $210.00 and set a “hold” rating on the stock in a report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $267.00.

Insider Activity

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 sale, the chief operating officer now owns 8,828 shares of the company’s stock, valued at approximately $1,808,504.08. This represents a 10.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.11% of the company’s stock.

NXP Semiconductors Trading Down 1.0 %

NASDAQ NXPI opened at $200.64 on Monday. NXP Semiconductors has a 12 month low of $196.95 and a 12 month high of $296.08. The company has a 50-day moving average of $215.46 and a 200-day moving average of $222.86. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.36 and a quick ratio of 1.60. The company has a market cap of $50.89 billion, a P/E ratio of 20.62, a P/E/G ratio of 3.01 and a beta of 1.47.

NXP Semiconductors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 19th will be paid a dividend of $1.014 per share. This represents a $4.06 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Wednesday, March 19th. NXP Semiconductors’s dividend payout ratio is currently 41.62%.

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.