Argus Investors Counsel Inc. reduced its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 0.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 41,321 shares of the semiconductor company’s stock after selling 137 shares during the period. Texas Instruments accounts for about 2.1% of Argus Investors Counsel Inc.’s portfolio, making the stock its 16th largest holding. Argus Investors Counsel Inc.’s holdings in Texas Instruments were worth $4,383,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Cordasco Financial Network bought a new position in shares of Texas Instruments in the 1st quarter valued at about $27,000. CX Institutional grew its position in shares of Texas Instruments by 95.9% in the 1st quarter. CX Institutional now owns 286 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 140 shares during the period. Highwater Wealth Management LLC bought a new position in shares of Texas Instruments in the 4th quarter valued at about $34,000. Intercontinental Wealth Advisors LLC bought a new position in shares of Texas Instruments in the 4th quarter valued at about $40,000. Finally, Essex Savings Bank bought a new position in shares of Texas Instruments in the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.
In other Texas Instruments news, insider Ahmad Bahai sold 26,963 shares of Texas Instruments stock in a transaction dated Friday, January 25th. The shares were sold at an average price of $103.75, for a total value of $2,797,411.25. Following the completion of the sale, the insider now owns 58,928 shares in the company, valued at approximately $6,113,780. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Hagop H. Kozanian sold 9,061 shares of Texas Instruments stock in a transaction dated Monday, January 28th. The stock was sold at an average price of $102.60, for a total transaction of $929,658.60. Following the completion of the sale, the insider now owns 40,164 shares of the company’s stock, valued at approximately $4,120,826.40. The disclosure for this sale can be found here. Insiders have sold a total of 256,061 shares of company stock valued at $26,536,471 in the last ninety days. 0.89% of the stock is currently owned by insiders.
Shares of TXN stock opened at $116.37 on Wednesday. The stock has a market cap of $108.03 billion, a P/E ratio of 21.47, a P/E/G ratio of 2.22 and a beta of 1.17. The company has a quick ratio of 2.38, a current ratio of 3.27 and a debt-to-equity ratio of 0.48. Texas Instruments Incorporated has a 52 week low of $87.70 and a 52 week high of $118.48.
Texas Instruments (NASDAQ:TXN) last announced its earnings results on Wednesday, January 23rd. The semiconductor company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.24 by $0.03. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.75 billion. Texas Instruments had a net margin of 35.35% and a return on equity of 53.05%. Texas Instruments’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 EPS. On average, research analysts forecast that Texas Instruments Incorporated will post 5.19 EPS for the current year.
A number of brokerages have recently commented on TXN. Sanford C. Bernstein downgraded shares of Texas Instruments from an “outperform” rating to a “market perform” rating and set a $108.00 price objective for the company. in a research report on Monday, March 25th. ValuEngine downgraded shares of Texas Instruments from a “buy” rating to a “hold” rating in a research report on Monday, February 25th. Robert W. Baird reissued a “hold” rating and issued a $97.00 price objective on shares of Texas Instruments in a research report on Tuesday, February 26th. DZ Bank downgraded shares of Texas Instruments from a “hold” rating to a “sell” rating in a research report on Thursday, February 21st. Finally, BidaskClub raised shares of Texas Instruments from a “sell” rating to a “hold” rating in a research report on Wednesday, February 13th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $108.40.
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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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