Allstate Corp Purchases Shares of 7,596 NXP Semiconductors (NASDAQ:NXPI)

Allstate Corp acquired a new position in NXP Semiconductors (NASDAQ:NXPI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,596 shares of the semiconductor provider’s stock, valued at approximately $1,579,000.

A number of other hedge funds have also made changes to their positions in the business. Brown Brothers Harriman & Co. raised its holdings in shares of NXP Semiconductors by 10.4% during the 4th quarter. Brown Brothers Harriman & Co. now owns 4,187 shares of the semiconductor provider’s stock valued at $870,000 after buying an additional 396 shares during the period. DnB Asset Management AS raised its stake in shares of NXP Semiconductors by 6.4% during the fourth quarter. DnB Asset Management AS now owns 45,182 shares of the semiconductor provider’s stock valued at $9,391,000 after purchasing an additional 2,704 shares during the period. Pictet Asset Management Holding SA lifted its position 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 in the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of NXP Semiconductors in the fourth quarter valued at $3,826,000. Finally, Providence Capital Advisors LLC grew its stake in shares of NXP Semiconductors by 0.8% during the fourth quarter. Providence Capital Advisors LLC now owns 26,329 shares of the semiconductor provider’s stock valued at $5,473,000 after acquiring an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 90.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NXPI. Citigroup raised NXP Semiconductors from a “neutral” rating to a “buy” rating and increased their price target for the company from $210.00 to $290.00 in a report on Thursday, February 20th. Arete Research raised shares of NXP Semiconductors to a “strong-buy” rating in a research report on Tuesday, March 25th. Barclays cut their price target on shares of NXP Semiconductors from $280.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Mizuho boosted their target price on shares of NXP Semiconductors from $240.00 to $255.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, Needham & Company LLC cut their target price on shares of NXP Semiconductors from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $267.00.

Insider Activity at NXP Semiconductors

In other 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 owns 8,828 shares of the company’s stock, valued at approximately $1,808,504.08. This represents a 10.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.11% of the stock is owned by insiders.

NXP Semiconductors Price Performance

NASDAQ NXPI opened at $189.99 on Monday. The company has a 50-day moving average price of $214.68 and a two-hundred day moving average price of $221.93. NXP Semiconductors has a 52 week low of $188.85 and a 52 week high of $296.08. The stock has a market cap of $48.19 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 3.01 and a beta of 1.47. The company has a current ratio of 2.36, a quick ratio of 1.60 and a debt-to-equity ratio of 1.09.

NXP Semiconductors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 19th will be issued a $1.014 dividend. This represents a $4.06 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Wednesday, March 19th. NXP Semiconductors’s dividend payout ratio (DPR) is 41.62%.

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.