Pinnacle Associates Ltd. trimmed its position in Texas Instruments Incorporated (NASDAQ:TXN) by 4.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,703 shares of the semiconductor company’s stock after selling 1,652 shares during the period. Pinnacle Associates Ltd.’s holdings in Texas Instruments were worth $3,716,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Kiley Juergens Wealth Management LLC purchased a new position in Texas Instruments in the 2nd quarter worth approximately $100,000. Penserra Capital Management LLC purchased a new position in Texas Instruments in the 1st quarter worth approximately $106,000. Stelac Advisory Services LLC purchased a new position in Texas Instruments in the 1st quarter worth approximately $110,000. Massey Quick Simon & CO. LLC lifted its stake in Texas Instruments by 89.7% in the 1st quarter. Massey Quick Simon & CO. LLC now owns 1,066 shares of the semiconductor company’s stock worth $111,000 after purchasing an additional 504 shares in the last quarter. Finally, Perigon Wealth Management LLC raised its position in shares of Texas Instruments by 1,680.3% during the 1st quarter. Perigon Wealth Management LLC now owns 1,353 shares of the semiconductor company’s stock valued at $141,000 after buying an additional 1,277 shares during the period. Institutional investors own 84.55% of the company’s stock.
In related news, insider Stephen A. Anderson sold 25,318 shares of Texas Instruments stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $111.55, for a total value of $2,824,222.90. Following the completion of the sale, the insider now owns 131,153 shares in the company, valued at approximately $14,630,117.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.84% of the stock is currently owned by company insiders.
Texas Instruments stock opened at $109.03 on Tuesday. Texas Instruments Incorporated has a fifty-two week low of $79.60 and a fifty-two week high of $120.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 6.54 and a quick ratio of 5.12. The company has a market capitalization of $106.59 billion, a P/E ratio of 22.24, a P/E/G ratio of 2.10 and a beta of 1.20.
Texas Instruments (NASDAQ:TXN) last posted its earnings results on Tuesday, July 24th. The semiconductor company reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.03. Texas Instruments had a net margin of 28.08% and a return on equity of 46.80%. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter last year, the firm earned $1.03 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. sell-side analysts expect that Texas Instruments Incorporated will post 5.49 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 13th. Investors of record on Tuesday, July 31st were issued a $0.62 dividend. The ex-dividend date was Monday, July 30th. This represents a $2.48 annualized dividend and a yield of 2.27%. Texas Instruments’s dividend payout ratio (DPR) is presently 57.94%.
TXN has been the topic of several analyst reports. Bank of America lifted their price target on shares of Texas Instruments from $138.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. BidaskClub lowered shares of Texas Instruments from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 8th. Zacks Investment Research lowered shares of Texas Instruments from a “strong-buy” rating to a “hold” rating in a research report on Saturday, June 30th. B. Riley lifted their price target on shares of Texas Instruments from $115.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, July 25th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $157.00 price target on shares of Texas Instruments in a research report on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $121.64.
About Texas Instruments
Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. It operates in two segments, Analog and Embedded Processing. The Analog segment offers power products to manage power requirements in various levels using battery management solutions, portable components, power supply controls, point-of-load products, switches and interfaces, integrated protection devices, high-voltage products, and mobile lighting and display products.
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