Russell Investments Group Ltd. Makes New $86.93 Million Investment in NXP Semiconductors N.V. $NXPI

Russell Investments Group Ltd. acquired a new position in shares of NXP Semiconductors N.V. (NASDAQ:NXPI) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 366,064 shares of the semiconductor provider’s stock, valued at approximately $86,929,000.

Several other hedge funds also recently added to or reduced their stakes in NXPI. BlackRock Inc. bought a new stake in shares of NXP Semiconductors in the 2nd quarter worth about $6,716,412,000. State Street Corp lifted its position in shares of NXP Semiconductors by 6.4% during the second quarter. State Street Corp now owns 11,699,143 shares of the semiconductor provider’s stock worth $3,298,932,000 after purchasing an additional 702,099 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of NXP Semiconductors during the second quarter worth about $21,099,000. Bank of America Corp DE bought a new position in shares of NXP Semiconductors during the second quarter worth about $1,169,846,000. Finally, Van ECK Associates Corp acquired a new position in NXP Semiconductors in the second quarter worth about $1,167,458,000. 90.54% of the stock is owned by institutional investors and hedge funds.

NXP Semiconductors Stock Performance

NASDAQ NXPI traded down $2.20 during trading hours on Friday, reaching $265.09. The company’s stock had a trading volume of 4,320,601 shares, compared to its average volume of 5,620,579. The company has a current ratio of 2.12, a quick ratio of 1.47 and a debt-to-equity ratio of 0.80. The business has a 50-day simple moving average of $240.01 and a 200 day simple moving average of $247.33. NXP Semiconductors N.V. has a 52 week low of $183.00 and a 52 week high of $339.95. The stock has a market cap of $66.82 billion, a PE ratio of 20.84, a PEG ratio of 0.90 and a beta of 1.83.

NXP Semiconductors (NASDAQ:NXPI) last posted its earnings results on Wednesday, October 28th. The semiconductor provider reported $4.20 EPS for the quarter, beating the consensus estimate 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 business’s revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.11 earnings per share. Equities research analysts predict 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 declared a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Wednesday, September 16th were issued a $1.0140 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $4.06 annualized dividend and a dividend yield of 1.5%. NXP Semiconductors’s dividend payout ratio (DPR) is 31.92%.

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

Wall Street Analysts Forecast Growth

NXPI has been the subject of a number of research reports. Sanford C. Bernstein reiterated a “market perform” rating and issued a $290.00 price target (up from $270.00) on shares of NXP Semiconductors in a research note on Wednesday, July 29th. Weiss Ratings restated a “hold (c+)” rating on shares of NXP Semiconductors in a research note on Thursday, October 29th. Wall Street Zen downgraded NXP Semiconductors from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. Mizuho reduced their target price on NXP Semiconductors from $200.00 to $190.00 and set an “underperform” rating on the stock in a report on Wednesday, July 29th. Finally, Stifel Nicolaus decreased their target price on NXP Semiconductors from $265.00 to $250.00 and set a “hold” rating for the company in a research report on Wednesday, October 28th. Sixteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $295.78.

Insider Buying and Selling

In related news, EVP Christopher Jensen sold 3,355 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $240.00, for a total transaction of $805,200.00. Following the completion of the transaction, the executive vice president owned 288 shares in the company, valued at $69,120. The trade was a 92.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Foxx sold 400 shares of the company’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $263.60, for a total value of $105,440.00. Following the transaction, the director owned 2,942 shares of the company’s stock, valued at approximately $775,511.20. The trade was a 11.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 6,398 shares of company stock worth $1,574,523. 0.05% of the stock is owned by company insiders.

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.