State of Michigan Retirement System Has $16.70 Million Holdings in NXP Semiconductors (NASDAQ:NXPI)

State of Michigan Retirement System trimmed its holdings in shares of NXP Semiconductors (NASDAQ:NXPI) by 0.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,368 shares of the semiconductor provider’s stock after selling 600 shares during the period. State of Michigan Retirement System’s holdings in NXP Semiconductors were worth $16,704,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of NXP Semiconductors by 387.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,294,340 shares of the semiconductor provider’s stock valued at $550,665,000 after buying an additional 1,823,650 shares in the last quarter. Van ECK Associates Corp grew its holdings in NXP Semiconductors by 27.1% during the 4th quarter. Van ECK Associates Corp now owns 3,865,446 shares of the semiconductor provider’s stock worth $803,432,000 after acquiring an additional 824,317 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in NXP Semiconductors by 337.2% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 939,924 shares of the semiconductor provider’s stock valued at $225,591,000 after acquiring an additional 724,951 shares in the last quarter. Assenagon Asset Management S.A. increased its position in NXP Semiconductors by 1,172.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 555,189 shares of the semiconductor provider’s stock valued at $115,396,000 after acquiring an additional 511,553 shares in the last quarter. Finally, Southpoint Capital Advisors LP bought a new position in shares of NXP Semiconductors in the third quarter worth about $48,002,000. Institutional investors own 90.54% of the company’s stock.

NXP Semiconductors Trading Down 2.5 %

Shares of NASDAQ NXPI opened at $211.16 on Wednesday. NXP Semiconductors has a twelve month low of $198.21 and a twelve month high of $296.08. The stock has a market cap of $53.55 billion, a price-to-earnings ratio of 21.70, a P/E/G ratio of 3.01 and a beta of 1.46. 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 company’s fifty day moving average is $215.99 and its 200-day moving average is $226.68.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of NXP Semiconductors from $260.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Truist Financial lifted their target price on NXP Semiconductors from $245.00 to $258.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Susquehanna cut their price target on NXP Semiconductors from $235.00 to $225.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. StockNews.com cut NXP Semiconductors from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Finally, Needham & Company LLC dropped their price objective on NXP Semiconductors from $250.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $267.00.

NXP Semiconductors Company Profile

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.