Independence Bank of Kentucky trimmed its position in shares of Texas Instruments Incorporated (NASDAQ:TXN – Free Report) by 5.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,209 shares of the semiconductor company’s stock after selling 65 shares during the quarter. Independence Bank of Kentucky’s holdings in Texas Instruments were worth $218,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sittner & Nelson LLC boosted its position in Texas Instruments by 892.9% during the first quarter. Sittner & Nelson LLC now owns 139 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 125 shares during the last quarter. Cranbrook Wealth Management LLC acquired a new position in Texas Instruments in the first quarter valued at approximately $28,000. Coppell Advisory Solutions Corp. bought a new position in shares of Texas Instruments during the 4th quarter worth approximately $30,000. Magellan Asset Management Ltd bought a new stake in shares of Texas Instruments in the 1st quarter valued at $32,000. Finally, Elequin Securities LLC acquired a new position in shares of Texas Instruments during the 4th quarter valued at $33,000. 83.37% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the company. UBS Group decreased their price objective on Texas Instruments from $190.00 to $185.00 in a report on Wednesday, July 26th. Barclays raised their price objective on shares of Texas Instruments from $165.00 to $175.00 in a research note on Wednesday, July 26th. Rosenblatt Securities reissued a “buy” rating and set a $230.00 target price on shares of Texas Instruments in a research report on Tuesday, July 25th. Wolfe Research assumed coverage on shares of Texas Instruments in a research report on Wednesday, July 19th. They issued a “peer perform” rating on the stock. Finally, StockNews.com initiated coverage on Texas Instruments in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Texas Instruments currently has a consensus rating of “Hold” and an average price target of $185.32.
Texas Instruments Stock Performance
Shares of TXN stock opened at $162.62 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 4.35 and a current ratio of 5.72. Texas Instruments Incorporated has a fifty-two week low of $145.97 and a fifty-two week high of $188.12. The company has a market capitalization of $147.65 billion, a P/E ratio of 19.55, a PEG ratio of 2.42 and a beta of 1.03. The stock has a 50 day moving average price of $172.43 and a two-hundred day moving average price of $173.22.
Texas Instruments (NASDAQ:TXN – Get Free Report) last posted its earnings results on Tuesday, July 25th. The semiconductor company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.11. Texas Instruments had a return on equity of 50.90% and a net margin of 40.84%. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same period in the previous year, the firm earned $2.45 earnings per share. The business’s revenue was down 13.1% compared to the same quarter last year. Analysts expect that Texas Instruments Incorporated will post 7.34 earnings per share for the current year.
Texas Instruments Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend was Friday, July 28th. Texas Instruments’s payout ratio is 59.62%.
Insider Activity at Texas Instruments
In related news, Director Carrie Smith Cox sold 16,055 shares of the 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 owns 35,801 shares in the company, valued at $6,445,612.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Texas Instruments news, Director Pamela H. Patsley sold 10,539 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $179.34, for a total value of $1,890,064.26. Following the sale, the director now owns 32,662 shares in the company, valued at approximately $5,857,603.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Carrie Smith Cox sold 16,055 shares of the firm’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 of the company’s stock, valued at approximately $6,445,612.04. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.
Texas Instruments Company Profile
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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