Kentucky Retirement Systems Sells 1,049 Shares of NXP Semiconductors (NASDAQ:NXPI)

Kentucky Retirement Systems reduced its holdings in NXP Semiconductors (NASDAQ:NXPI) by 5.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,575 shares of the semiconductor provider’s stock after selling 1,049 shares during the quarter. Kentucky Retirement Systems’ holdings in NXP Semiconductors were worth $4,850,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. LRI Investments LLC bought a new stake in NXP Semiconductors in the first quarter worth approximately $168,000. Capital Research Global Investors increased its holdings in shares of NXP Semiconductors by 9.0% during the first quarter. Capital Research Global Investors now owns 844,272 shares of the semiconductor provider’s stock valued at $209,185,000 after acquiring an additional 69,646 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of NXP Semiconductors by 5.2% during the first quarter. Advisors Asset Management Inc. now owns 19,849 shares of the semiconductor provider’s stock valued at $4,918,000 after acquiring an additional 986 shares in the last quarter. Axxcess Wealth Management LLC increased its holdings in shares of NXP Semiconductors by 39.3% during the first quarter. Axxcess Wealth Management LLC now owns 2,869 shares of the semiconductor provider’s stock valued at $711,000 after acquiring an additional 809 shares in the last quarter. Finally, Freestone Capital Holdings LLC increased its holdings in shares of NXP Semiconductors by 5.3% during the first quarter. Freestone Capital Holdings LLC now owns 11,849 shares of the semiconductor provider’s stock valued at $2,936,000 after acquiring an additional 596 shares in the last quarter. 90.54% of the stock is currently owned by institutional investors.

Insider Transactions at NXP Semiconductors

In other news, CEO Kurt Sievers sold 8,548 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $275.75, for a total transaction of $2,357,111.00. Following the completion of the transaction, the chief executive officer now owns 177,889 shares in the company, valued at approximately $49,052,891.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is owned by corporate insiders.

NXP Semiconductors Stock Performance

Shares of NASDAQ NXPI traded up $6.11 during trading on Friday, reaching $253.62. 2,111,290 shares of the stock traded hands, compared to its average volume of 2,277,814. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.21 and a quick ratio of 1.64. The stock has a market capitalization of $64.60 billion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 2.71 and a beta of 1.49. NXP Semiconductors has a 52-week low of $167.21 and a 52-week high of $296.08. The company has a 50-day moving average of $272.46 and a 200-day moving average of $249.94.

NXP Semiconductors (NASDAQ:NXPI) last posted its quarterly earnings results on Monday, July 22nd. The semiconductor provider reported $3.20 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.38. The company had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.13 billion. NXP Semiconductors had a return on equity of 35.65% and a net margin of 21.21%. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.04 EPS. Analysts forecast that NXP Semiconductors will post 12 EPS for the current fiscal year.

NXP Semiconductors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Thursday, June 13th were paid a dividend of $1.014 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $4.06 annualized dividend and a dividend yield of 1.60%. NXP Semiconductors’s payout ratio is 37.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Evercore ISI boosted their price objective on NXP Semiconductors from $300.00 to $370.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. TD Cowen cut their target price on NXP Semiconductors from $330.00 to $310.00 and set a “buy” rating on the stock in a research report on Wednesday. Oppenheimer increased their price target on NXP Semiconductors from $295.00 to $330.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. Argus lifted their price objective on shares of NXP Semiconductors from $260.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Jefferies Financial Group initiated coverage on shares of NXP Semiconductors in a research note on Monday, May 13th. They issued a “buy” rating and a $325.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $294.89.

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.