Allstate Corp Grows Position in NXP Semiconductors N.V. $NXPI

Allstate Corp boosted its stake in shares of NXP Semiconductors N.V. (NASDAQ:NXPI) by 114.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 19,963 shares of the semiconductor provider’s stock after buying an additional 10,633 shares during the quarter. Allstate Corp’s holdings in NXP Semiconductors were worth $4,333,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. JPL Wealth Management LLC purchased a new position in shares of NXP Semiconductors in the third quarter valued at about $26,000. Wexford Capital LP purchased a new position in shares of NXP Semiconductors in the third quarter valued at about $31,000. Kelleher Financial Advisors purchased a new position in shares of NXP Semiconductors in the third quarter valued at about $31,000. Community Bank N.A. purchased a new position in shares of NXP Semiconductors in the third quarter valued at about $37,000. Finally, Cornerstone Planning Group LLC lifted its position in shares of NXP Semiconductors by 1,092.9% in the third quarter. Cornerstone Planning Group LLC now owns 167 shares of the semiconductor provider’s stock valued at $38,000 after acquiring an additional 153 shares in the last quarter. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on NXPI. Truist Financial boosted their price objective on NXP Semiconductors from $255.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Evercore boosted their price objective on NXP Semiconductors from $260.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. The Goldman Sachs Group restated a “buy” rating on shares of NXP Semiconductors in a research report on Wednesday, April 29th. KeyCorp boosted their price objective on NXP Semiconductors from $300.00 to $345.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Finally, Wells Fargo & Company boosted their price objective on NXP Semiconductors from $235.00 to $265.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $294.25.

Insider Activity

In other news, EVP Andrew Micallef sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $194.58, for a total transaction of $194,580.00. Following the transaction, the executive vice president owned 9,942 shares of the company’s stock, valued at approximately $1,934,514.36. This represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Andrew Hardy sold 5,289 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $235.00, for a total value of $1,242,915.00. Following the transaction, the executive vice president directly owned 2,020 shares in the company, valued at approximately $474,700. This represents a 72.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 10,865 shares of company stock valued at $2,508,416. 0.12% of the stock is currently owned by insiders.

NXP Semiconductors Stock Performance

Shares of NASDAQ:NXPI opened at $332.67 on Wednesday. The company has a quick ratio of 1.55, a current ratio of 2.24 and a debt-to-equity ratio of 1.00. NXP Semiconductors N.V. has a 52 week low of $183.00 and a 52 week high of $334.90. The firm has a fifty day simple moving average of $240.08 and a two-hundred day simple moving average of $228.08. The stock has a market capitalization of $83.99 billion, a P/E ratio of 31.83, a PEG ratio of 1.14 and a beta of 1.77.

NXP Semiconductors (NASDAQ:NXPI) last issued its quarterly earnings data on Wednesday, April 29th. The semiconductor provider reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.98 by $0.07. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.14 billion. NXP Semiconductors had a return on equity of 26.75% and a net margin of 21.03%.The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.64 earnings per share. On average, analysts expect that NXP Semiconductors N.V. will post 13.38 earnings per share for the current fiscal year.

NXP Semiconductors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Wednesday, March 25th were paid a dividend of $1.014 per share. The ex-dividend date of this dividend was Wednesday, March 25th. This represents a $4.06 dividend on an annualized basis and a dividend yield of 1.2%. NXP Semiconductors’s dividend payout ratio is currently 38.85%.

NXP Semiconductors Company Profile

NXP Semiconductors N.V. is a global semiconductor company headquartered in Eindhoven, the Netherlands, that designs and supplies mixed-signal and standard product solutions for a broad range of end markets. The company focuses on enabling secure connections and infrastructure for embedded applications, developing technologies used across automotive, industrial and Internet of Things (IoT), mobile, and communication infrastructure segments. NXP’s offerings target customers that require reliable, secure, and high-performance semiconductor components for connected devices and systems.

Product lines include microcontrollers and application processors, secure elements and authentication technologies, RF and high-power analog components, connectivity solutions, and vehicle networking and infotainment systems.