Weitz Investment Management Inc. reduced its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 0.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 397,100 shares of the semiconductor company’s stock after selling 600 shares during the quarter. Texas Instruments makes up approximately 1.7% of Weitz Investment Management Inc.’s holdings, making the stock its 16th largest holding. Weitz Investment Management Inc.’s holdings in Texas Instruments were worth $42,120,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in TXN. Green Square Capital LLC bought a new position in Texas Instruments in the 4th quarter worth approximately $1,354,000. Bahl & Gaynor Inc. raised its position in Texas Instruments by 47.9% in the 4th quarter. Bahl & Gaynor Inc. now owns 2,794,033 shares of the semiconductor company’s stock worth $264,036,000 after purchasing an additional 904,477 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Texas Instruments in the 1st quarter worth approximately $5,100,000. Clarius Group LLC raised its position in Texas Instruments by 111.5% in the 1st quarter. Clarius Group LLC now owns 6,165 shares of the semiconductor company’s stock worth $654,000 after purchasing an additional 3,250 shares during the last quarter. Finally, Commerce Bank raised its position in Texas Instruments by 38.6% in the 1st quarter. Commerce Bank now owns 468,198 shares of the semiconductor company’s stock worth $49,662,000 after purchasing an additional 130,310 shares during the last quarter. 85.38% of the stock is currently owned by institutional investors and hedge funds.
TXN has been the subject of several research analyst reports. ValuEngine upgraded shares of Texas Instruments from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Loop Capital upped their target price on shares of Texas Instruments to $126.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $130.00 target price on shares of Texas Instruments in a research report on Wednesday, April 24th. Rosenblatt Securities reiterated a “buy” rating and set a $120.00 target price on shares of Texas Instruments in a research report on Monday, April 22nd. Finally, Morgan Stanley upped their target price on shares of Texas Instruments from $100.00 to $106.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have given a buy rating to the stock. Texas Instruments currently has a consensus rating of “Hold” and an average price target of $111.18.
Shares of TXN traded down $3.94 during trading hours on Friday, reaching $107.24. The stock had a trading volume of 2,730,309 shares, compared to its average volume of 4,529,501. The company has a quick ratio of 2.70, a current ratio of 3.68 and a debt-to-equity ratio of 0.59. Texas Instruments Incorporated has a 52 week low of $87.70 and a 52 week high of $119.32. The stock has a market cap of $100.90 billion, a P/E ratio of 19.79, a P/E/G ratio of 2.12 and a beta of 1.24.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings data on Tuesday, April 23rd. The semiconductor company reported $1.22 EPS for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.09. Texas Instruments had a net margin of 34.84% and a return on equity of 55.48%. The business had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter in the prior year, the company earned $1.35 EPS. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. On average, equities research analysts expect that Texas Instruments Incorporated will post 5.14 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 6th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Friday, May 3rd. Texas Instruments’s dividend payout ratio is currently 56.83%.
In related news, VP Haviv Ilan sold 76,818 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $117.38, for a total value of $9,016,896.84. Following the completion of the sale, the vice president now owns 126,741 shares in the company, valued at approximately $14,876,858.58. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Richard K. Templeton sold 475,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $117.38, for a total transaction of $55,755,500.00. Following the completion of the transaction, the chairman now directly owns 930,287 shares of the company’s stock, valued at $109,197,088.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 879,332 shares of company stock valued at $103,024,864. 0.89% of the stock is owned by corporate insiders.
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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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