New Mexico Educational Retirement Board Makes New Investment in NXP Semiconductors N.V. $NXPI

New Mexico Educational Retirement Board acquired a new position in NXP Semiconductors N.V. (NASDAQ:NXPI) in the 3rd quarter, Holdings Channel reports. The firm acquired 12,500 shares of the semiconductor provider’s stock, valued at approximately $2,969,000.

Other institutional investors have also added to or reduced their stakes in the company. Ritholtz Wealth Management purchased a new position in shares of NXP Semiconductors during the third quarter valued at about $1,224,000. UNIVEST FINANCIAL Corp purchased a new stake in NXP Semiconductors in the third quarter worth about $4,084,000. Joel Isaacson & Co. LLC purchased a new stake in NXP Semiconductors in the third quarter worth about $327,000. Jacobi Capital Management LLC bought a new stake in NXP Semiconductors during the 3rd quarter valued at approximately $163,000. Finally, Jefferies Financial Group Inc. bought a new stake in NXP Semiconductors during the 3rd quarter valued at approximately $1,980,000. 90.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NXPI shares. Sanford C. Bernstein reiterated a “market perform” rating and set a $290.00 target price (up from $270.00) on shares of NXP Semiconductors in a report on Wednesday, July 29th. Susquehanna raised their target price on NXP Semiconductors from $210.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. lifted their price target on NXP Semiconductors from $295.00 to $300.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. TD Cowen lifted their price target on NXP Semiconductors from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. Finally, Mizuho reduced their price target on NXP Semiconductors from $200.00 to $190.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 29th. Sixteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $295.78.

NXP Semiconductors Stock Performance

Shares of NXPI opened at $269.51 on Thursday. The company has a quick ratio of 1.47, a current ratio of 2.12 and a debt-to-equity ratio of 0.80. The stock has a market cap of $67.93 billion, a P/E ratio of 21.19, a P/E/G ratio of 0.88 and a beta of 1.83. The business’s 50 day moving average price is $238.43 and its 200-day moving average price is $246.97. NXP Semiconductors N.V. has a 52 week low of $183.00 and a 52 week high of $339.95.

NXP Semiconductors (NASDAQ:NXPI) last posted its quarterly earnings data on Wednesday, October 28th. The semiconductor provider reported $4.20 earnings per share for the quarter, beating analysts’ consensus estimates of $4.12 by $0.08. The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.76 billion. NXP Semiconductors had a return on equity of 28.57% and a net margin of 23.40%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter last year, the company earned $3.11 EPS. Equities research analysts anticipate that NXP Semiconductors N.V. will post 13.81 earnings per share for the current fiscal year.

NXP Semiconductors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Wednesday, September 16th were paid a $1.0140 dividend. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Wednesday, September 16th. NXP Semiconductors’s dividend payout ratio is currently 31.84%.

NXP Semiconductors announced that its board has authorized a share repurchase plan on Tuesday, October 27th that permits the company to repurchase $5 billion in shares. This buyback authorization permits the semiconductor provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at NXP Semiconductors

In other news, EVP Andrew Micallef sold 1,000 shares of NXP Semiconductors stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $226.04, for a total value of $226,040.00. Following the completion of the transaction, the executive vice president owned 7,942 shares of the company’s stock, valued at $1,795,209.68. The trade was a 11.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony R. Foxx sold 400 shares of the company’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $263.60, for a total transaction of $105,440.00. Following the completion of the transaction, the director owned 2,942 shares in the company, valued at approximately $775,511.20. The trade was a 11.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 4,755 shares of company stock valued at $1,136,680. Insiders own 0.05% of the company’s stock.

About NXP Semiconductors

NXP Semiconductors is a global semiconductor company headquartered in Eindhoven, the Netherlands. It develops and supplies chips and related technologies for automotive, industrial and Internet of Things, mobile, and communications infrastructure applications. Its products include microcontrollers and processors, analog and mixed-signal components, connectivity solutions, and security technologies. In the automotive sector, NXP supplies technologies used in vehicle networking, radar, and safety systems; its other offerings support applications such as secure identification and near-field communication.