Verity Asset Management Inc. increased its position in Texas Instruments Incorporated (NASDAQ:TXN – Free Report) by 94.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,866 shares of the semiconductor company’s stock after purchasing an additional 4,311 shares during the period. Texas Instruments makes up 1.0% of Verity Asset Management Inc.’s investment portfolio, making the stock its 27th largest holding. Verity Asset Management Inc.’s holdings in Texas Instruments were worth $1,649,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Old North State Trust LLC raised its stake in shares of Texas Instruments by 226.3% in the first quarter. Old North State Trust LLC now owns 1,488 shares of the semiconductor company’s stock worth $88,000 after purchasing an additional 1,032 shares during the last quarter. Toroso Investments LLC raised its position in Texas Instruments by 2.2% in the 1st quarter. Toroso Investments LLC now owns 33,840 shares of the semiconductor company’s stock valued at $6,295,000 after buying an additional 715 shares during the last quarter. 3Chopt Investment Partners LLC bought a new position in Texas Instruments during the 1st quarter valued at $734,000. Arete Wealth Advisors LLC bought a new stake in shares of Texas Instruments in the 1st quarter worth $879,000. Finally, American Trust lifted its position in shares of Texas Instruments by 25.4% during the first quarter. American Trust now owns 25,548 shares of the semiconductor company’s stock valued at $4,752,000 after purchasing an additional 5,179 shares in the last quarter. Institutional investors and hedge funds own 83.37% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on TXN shares. StockNews.com initiated coverage on shares of Texas Instruments in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Wolfe Research started coverage on Texas Instruments in a research note on Wednesday, July 19th. They issued a “peer perform” rating for the company. Truist Financial lowered their target price on Texas Instruments from $178.00 to $174.00 in a research note on Wednesday, July 26th. Susquehanna increased their price target on shares of Texas Instruments from $205.00 to $215.00 in a research report on Wednesday, July 26th. Finally, Stifel Nicolaus lifted their price objective on shares of Texas Instruments from $170.00 to $180.00 in a research report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $185.32.
In other Texas Instruments news, Director Carrie Smith Cox sold 16,055 shares of Texas Instruments stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $180.04, for a total transaction of $2,890,542.20. Following the transaction, the director now directly owns 35,801 shares of the company’s stock, valued at $6,445,612.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Pamela H. Patsley sold 10,539 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $179.34, for a total transaction of $1,890,064.26. Following the completion of the transaction, the director now directly owns 32,662 shares of the company’s stock, valued at $5,857,603.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Carrie Smith Cox sold 16,055 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $180.04, for a total value of $2,890,542.20. Following the transaction, the director now owns 35,801 shares in the company, valued at approximately $6,445,612.04. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.
Texas Instruments Price Performance
Shares of TXN traded up $1.62 during trading hours on Wednesday, reaching $165.11. 407,512 shares of the company’s stock traded hands, compared to its average volume of 5,074,649. Texas Instruments Incorporated has a 12 month low of $145.97 and a 12 month high of $188.12. The company has a current ratio of 5.72, a quick ratio of 4.35 and a debt-to-equity ratio of 0.69. The stock has a market cap of $149.91 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 2.40 and a beta of 1.03. The firm’s 50 day simple moving average is $172.84 and its 200-day simple moving average is $173.33.
Texas Instruments (NASDAQ:TXN – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The semiconductor company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.11. Texas Instruments had a net margin of 40.84% and a return on equity of 50.90%. The business had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter in the previous year, the company earned $2.45 EPS. The business’s quarterly revenue was down 13.1% compared to the same quarter last year. Equities analysts expect that Texas Instruments Incorporated will post 7.34 EPS for the current year.
Texas Instruments Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date was Friday, July 28th. Texas Instruments’s payout ratio is currently 59.62%.
About Texas Instruments
Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers in the United States and internationally. It operates in two segments, Analog and Embedded Processing. The Analog segment offers power products to manage power requirements across various voltage levels, including battery-management solutions, DC/DC switching regulators, AC/DC and isolated controllers and converters, power switches, linear regulators, voltage references, and lighting products.
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