Covington Capital Management Buys 309 Shares of Texas Instruments Incorporated (NASDAQ:TXN)

Covington Capital Management raised its stake in Texas Instruments Incorporated (NASDAQ:TXN – Get Rating) by 9.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,710 shares of the semiconductor company’s stock after buying an additional 309 shares during the period. Covington Capital Management’s holdings in Texas Instruments were worth $574,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bailard Inc. increased its holdings in shares of Texas Instruments by 0.7% in the 3rd quarter. Bailard Inc. now owns 78,954 shares of the semiconductor company’s stock worth $12,220,000 after buying an additional 587 shares during the last quarter. MML Investors Services LLC increased its holdings in shares of Texas Instruments by 15.8% in the 3rd quarter. MML Investors Services LLC now owns 65,572 shares of the semiconductor company’s stock worth $10,149,000 after buying an additional 8,938 shares during the last quarter. Capital Investment Advisors LLC increased its holdings in shares of Texas Instruments by 11.7% in the 3rd quarter. Capital Investment Advisors LLC now owns 40,402 shares of the semiconductor company’s stock worth $6,253,000 after buying an additional 4,236 shares during the last quarter. Cetera Advisor Networks LLC increased its holdings in shares of Texas Instruments by 13.8% in the 2nd quarter. Cetera Advisor Networks LLC now owns 32,845 shares of the semiconductor company’s stock worth $5,047,000 after buying an additional 3,972 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Texas Instruments by 1.0% in the 3rd quarter. Raymond James & Associates now owns 1,455,294 shares of the semiconductor company’s stock worth $225,253,000 after buying an additional 14,573 shares during the last quarter. Institutional investors own 83.12% of the company’s stock.

Insider Transactions at Texas Instruments

In other news, VP Ahmad Bahai sold 1,200 shares of the firm’s stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $176.67, for a total value of $212,004.00. Following the completion of the sale, the vice president now directly owns 30,357 shares of the company’s stock, valued at approximately $5,363,171.19. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Mark A. Blinn sold 3,068 shares of Texas Instruments stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $181.69, for a total transaction of $557,424.92. Following the completion of the transaction, the director now directly owns 11,773 shares of the company’s stock, valued at approximately $2,139,036.37. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Ahmad Bahai sold 1,200 shares of Texas Instruments stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $176.67, for a total transaction of $212,004.00. Following the transaction, the vice president now directly owns 30,357 shares of the company’s stock, valued at $5,363,171.19. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

TXN has been the topic of a number of research analyst reports. Cowen increased their price target on shares of Texas Instruments from $160.00 to $175.00 and gave the stock a “market perform” rating in a report on Wednesday, January 25th. UBS Group increased their target price on shares of Texas Instruments from $165.00 to $190.00 and gave the company a “neutral” rating in a report on Wednesday, January 25th. Benchmark increased their target price on shares of Texas Instruments from $189.00 to $203.00 and gave the company a “buy” rating in a report on Wednesday, January 25th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Texas Instruments from $155.00 to $158.00 in a report on Wednesday, December 14th. Finally, Credit Suisse Group lowered shares of Texas Instruments from an “outperform” rating to a “neutral” rating and increased their target price for the company from $185.00 to $205.00 in a report on Wednesday, November 16th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Texas Instruments presently has an average rating of “Hold” and a consensus price target of $179.70.

Texas Instruments Trading Up 1.1 %

Shares of TXN opened at $175.73 on Wednesday. The firm has a fifty day simple moving average of $175.30 and a two-hundred day simple moving average of $169.33. Texas Instruments Incorporated has a twelve month low of $144.46 and a twelve month high of $191.34. The company has a quick ratio of 3.77, a current ratio of 4.70 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $159.25 billion, a P/E ratio of 18.69, a PEG ratio of 2.44 and a beta of 1.04.

Texas Instruments (NASDAQ:TXN – Get Rating) last posted its earnings results on Tuesday, January 24th. The semiconductor company reported $2.13 EPS for the quarter, topping the consensus estimate of $1.96 by $0.17. Texas Instruments had a net margin of 43.68% and a return on equity of 61.06%. The firm had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period last year, the company posted $2.27 EPS. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. On average, research analysts anticipate that Texas Instruments Incorporated will post 7.53 EPS for the current year.

Texas Instruments Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 14th. Stockholders of record on Tuesday, January 31st were given a $1.24 dividend. The ex-dividend date was Monday, January 30th. This represents a $4.96 annualized dividend and a dividend yield of 2.82%. Texas Instruments’s dividend payout ratio is 52.77%.

About Texas Instruments

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Texas Instruments Incorporated engages in the design and manufacture of semiconductors. It operates through Analog and Embedded Processing segments. The Analog segment includes semiconductors change real-world signals, such as sound, temperature, pressure or images, by conditioning them, amplifying them and often converting them to a stream of digital data that can be processed by other semiconductors, such as embedded processors.