Magnetar Financial LLC Buys New Shares in NXP Semiconductors (NASDAQ:NXPI)

Magnetar Financial LLC purchased a new position in NXP Semiconductors (NASDAQ:NXPI) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 6,809 shares of the semiconductor provider’s stock, valued at approximately $1,832,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Public Sector Pension Investment Board grew its position in NXP Semiconductors by 71.4% during the second quarter. Public Sector Pension Investment Board now owns 9,725 shares of the semiconductor provider’s stock worth $2,617,000 after buying an additional 4,052 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of NXP Semiconductors by 13.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 6,055 shares of the semiconductor provider’s stock worth $1,629,000 after acquiring an additional 725 shares during the period. Mount Yale Investment Advisors LLC grew its holdings in shares of NXP Semiconductors by 3.9% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 7,000 shares of the semiconductor provider’s stock worth $1,884,000 after purchasing an additional 261 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of NXP Semiconductors during the second quarter valued at approximately $1,078,000. Finally, Profund Advisors LLC raised its stake in shares of NXP Semiconductors by 5.6% in the second quarter. Profund Advisors LLC now owns 41,717 shares of the semiconductor provider’s stock valued at $11,226,000 after purchasing an additional 2,207 shares in the last quarter. Institutional investors own 90.54% of the company’s stock.

NXP Semiconductors Price Performance

Shares of NXPI stock opened at $231.86 on Tuesday. NXP Semiconductors has a 1 year low of $167.21 and a 1 year high of $296.08. The company has a current ratio of 2.21, a quick ratio of 1.52 and a debt-to-equity ratio of 1.04. The firm’s 50 day moving average is $246.99 and its 200-day moving average is $254.17. The firm has a market capitalization of $59.28 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 2.50 and a beta of 1.49.

NXP Semiconductors (NASDAQ:NXPI) last announced its quarterly earnings data on Monday, July 22nd. The semiconductor provider reported $3.20 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.38. The firm had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.13 billion. NXP Semiconductors had a return on equity of 35.65% and a net margin of 21.21%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period last year, the company earned $3.04 EPS. Sell-side analysts forecast that NXP Semiconductors will post 11.97 EPS for the current fiscal year.

NXP Semiconductors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Thursday, September 12th will be paid a $1.014 dividend. This represents a $4.06 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Thursday, September 12th. NXP Semiconductors’s dividend payout ratio (DPR) is presently 37.40%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NXPI shares. Citigroup boosted their price target on shares of NXP Semiconductors from $150.00 to $220.00 and gave the company a “sell” rating in a report on Monday, July 15th. StockNews.com lowered shares of NXP Semiconductors from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Oppenheimer lifted their price objective on NXP Semiconductors from $295.00 to $330.00 and gave the company an “outperform” rating in a report on Friday, July 12th. Barclays increased their target price on NXP Semiconductors from $280.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Finally, Stifel Nicolaus raised their target price on NXP Semiconductors from $240.00 to $275.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $294.89.

Insider Transactions at NXP Semiconductors

In related news, EVP Jennifer Wuamett sold 3,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $232.35, for a total value of $813,225.00. Following the transaction, the executive vice president now directly owns 30,269 shares in the company, valued at $7,033,002.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other NXP Semiconductors news, EVP Jennifer Wuamett sold 3,500 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $232.35, for a total transaction of $813,225.00. Following the completion of the sale, the executive vice president now owns 30,269 shares in the company, valued at approximately $7,033,002.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Julie Southern purchased 146 shares of NXP Semiconductors stock in a transaction dated Tuesday, July 30th. The stock was bought at an average price of $257.54 per share, for a total transaction of $37,600.84. Following the completion of the transaction, the insider now directly owns 11,297 shares in the company, valued at $2,909,429.38. The disclosure for this purchase can be found here. 0.11% of the stock is owned by corporate insiders.

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.