Mcrae Capital Management Inc. decreased its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 11.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,165 shares of the semiconductor company’s stock after selling 275 shares during the quarter. Mcrae Capital Management Inc.’s holdings in Texas Instruments were worth $248,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alecta Pensionsforsakring Omsesidigt boosted its position in Texas Instruments by 9.5% during the 1st quarter. Alecta Pensionsforsakring Omsesidigt now owns 3,759,000 shares of the semiconductor company’s stock valued at $398,680,000 after acquiring an additional 325,000 shares in the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of Texas Instruments by 2.2% during the 1st quarter. Parametric Portfolio Associates LLC now owns 3,321,755 shares of the semiconductor company’s stock valued at $352,339,000 after purchasing an additional 72,745 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Texas Instruments by 17.8% during the 1st quarter. Bank of Montreal Can now owns 3,212,978 shares of the semiconductor company’s stock valued at $340,801,000 after purchasing an additional 486,584 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Texas Instruments by 1.4% during the 1st quarter. Swiss National Bank now owns 3,206,294 shares of the semiconductor company’s stock valued at $340,092,000 after purchasing an additional 45,800 shares during the last quarter. Finally, OppenheimerFunds Inc. lifted its holdings in shares of Texas Instruments by 7.0% during the 1st quarter. OppenheimerFunds Inc. now owns 3,071,609 shares of the semiconductor company’s stock valued at $325,806,000 after purchasing an additional 200,693 shares during the last quarter. 85.51% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently commented on TXN shares. Credit Suisse Group increased their price objective on Texas Instruments from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on Texas Instruments from $130.00 to $138.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Longbow Research lowered Texas Instruments from a “buy” rating to a “neutral” rating and set a $116.20 target price for the company. in a research note on Wednesday, April 17th. Rosenblatt Securities restated a “buy” rating and issued a $120.00 target price on shares of Texas Instruments in a research note on Monday, April 22nd. Finally, Oppenheimer raised their target price on Texas Instruments from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $118.74.
In related news, insider R Gregory Delagi sold 450,000 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $128.31, for a total transaction of $57,739,500.00. Following the completion of the transaction, the insider now directly owns 243,755 shares of the company’s stock, valued at $31,276,204.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Cynthia Hoff Trochu sold 6,185 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $128.22, for a total transaction of $793,040.70. Following the transaction, the senior vice president now directly owns 62,417 shares of the company’s stock, valued at $8,003,107.74. The disclosure for this sale can be found here. Insiders sold 1,251,117 shares of company stock valued at $159,473,823 over the last ninety days. Corporate insiders own 0.89% of the company’s stock.
Shares of NASDAQ:TXN traded up $3.57 on Thursday, reaching $124.29. The company’s stock had a trading volume of 4,164,877 shares, compared to its average volume of 5,715,966. The business has a 50-day moving average price of $118.59. Texas Instruments Incorporated has a 52-week low of $87.70 and a 52-week high of $130.37. The company has a quick ratio of 2.22, a current ratio of 3.01 and a debt-to-equity ratio of 0.54. The company has a market cap of $109.17 billion, a PE ratio of 22.93, a P/E/G ratio of 2.21 and a beta of 1.25.
Texas Instruments (NASDAQ:TXN) last announced its earnings results on Tuesday, July 23rd. The semiconductor company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.08. Texas Instruments had a net margin of 34.98% and a return on equity of 57.25%. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same period in the prior year, the company earned $1.37 earnings per share. The business’s revenue was down 8.7% compared to the same quarter last year. On average, sell-side analysts forecast that Texas Instruments Incorporated will post 5.23 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Wednesday, July 31st will be issued a $0.77 dividend. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.48%. Texas Instruments’s payout ratio is 56.83%.
Texas Instruments Company Profile
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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