Allianz SE Acquires New Position in NXP Semiconductors (NASDAQ:NXPI)

Allianz SE bought a new position in shares of NXP Semiconductors (NASDAQ:NXPI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,831 shares of the semiconductor provider’s stock, valued at approximately $1,832,000.

A number of other hedge funds have also bought and sold shares of the stock. Intrust Bank NA grew its holdings in shares of NXP Semiconductors by 7.0% during the fourth quarter. Intrust Bank NA now owns 4,843 shares of the semiconductor provider’s stock valued at $1,007,000 after buying an additional 318 shares during the last quarter. Allstate Corp acquired a new stake in NXP Semiconductors during the 4th quarter worth about $1,579,000. Brown Brothers Harriman & Co. increased its holdings in shares of NXP Semiconductors by 10.4% in the fourth quarter. Brown Brothers Harriman & Co. now owns 4,187 shares of the semiconductor provider’s stock valued at $870,000 after purchasing an additional 396 shares during the period. DnB Asset Management AS raised its stake in shares of NXP Semiconductors by 6.4% in the fourth quarter. DnB Asset Management AS now owns 45,182 shares of the semiconductor provider’s stock worth $9,391,000 after purchasing an additional 2,704 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of NXP Semiconductors by 14.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 4,086,294 shares of the semiconductor provider’s stock worth $849,336,000 after purchasing an additional 500,413 shares during the period. Institutional investors and hedge funds own 90.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NXPI. Citigroup upgraded shares of NXP Semiconductors from a “neutral” rating to a “buy” rating and increased their price target for the stock from $210.00 to $290.00 in a report on Thursday, February 20th. Susquehanna reduced their target price on shares of NXP Semiconductors from $235.00 to $225.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of NXP Semiconductors in a report on Tuesday, February 4th. Truist Financial lifted their price objective on NXP Semiconductors from $245.00 to $258.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, Arete Research raised NXP Semiconductors to a “strong-buy” rating in a report on Tuesday, March 25th. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, NXP Semiconductors currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.00.

NXP Semiconductors Stock Down 5.0 %

NXPI stock opened at $189.99 on Friday. NXP Semiconductors has a 52 week low of $188.85 and a 52 week high of $296.08. The company has a quick ratio of 1.60, a current ratio of 2.36 and a debt-to-equity ratio of 1.09. The firm has a 50-day simple moving average of $214.68 and a 200-day simple moving average of $221.99. The stock has a market capitalization of $48.19 billion, a P/E ratio of 19.53, a P/E/G ratio of 3.01 and a beta of 1.47.

NXP Semiconductors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 19th will be issued a dividend of $1.014 per share. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 2.13%. NXP Semiconductors’s payout ratio is currently 41.62%.

Insider Activity

In related news, COO Andrew Micallef sold 1,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $204.86, for a total value of $204,860.00. Following the completion of the transaction, the chief operating officer now directly 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. Company insiders own 0.11% of the company’s stock.

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.