King Luther Capital Management Corp boosted its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN – Free Report) by 0.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,076 shares of the semiconductor company’s stock after purchasing an additional 487 shares during the quarter. King Luther Capital Management Corp’s holdings in Texas Instruments were worth $12,795,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Texas Instruments by 100,025.9% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,297,017,974 shares of the semiconductor company’s stock valued at $233,489,176,000 after acquiring an additional 1,295,722,587 shares during the last quarter. Norges Bank acquired a new stake in Texas Instruments during the 4th quarter worth $1,548,365,000. Moneta Group Investment Advisors LLC lifted its position in Texas Instruments by 60,024.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,363,303 shares of the semiconductor company’s stock valued at $1,381,785,000 after acquiring an additional 8,349,393 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Texas Instruments by 497.1% in the first quarter. Envestnet Asset Management Inc. now owns 7,377,079 shares of the semiconductor company’s stock valued at $247,302,000 after acquiring an additional 6,141,556 shares in the last quarter. Finally, Morgan Stanley grew its stake in Texas Instruments by 54.4% during the 4th quarter. Morgan Stanley now owns 14,735,331 shares of the semiconductor company’s stock worth $2,434,572,000 after buying an additional 5,191,426 shares during the last quarter. Institutional investors and hedge funds own 83.37% of the company’s stock.
Insiders Place Their Bets
In other news, Director Ronald Kirk sold 12,299 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $145.51, for a total transaction of $1,789,627.49. Following the completion of the sale, the director now directly owns 13,637 shares of the company’s stock, valued at approximately $1,984,319.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is currently owned by insiders.
Texas Instruments Stock Up 0.6 %
Texas Instruments (NASDAQ:TXN – Get Free Report) last posted its quarterly earnings data on Tuesday, October 24th. The semiconductor company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.01). Texas Instruments had a return on equity of 45.23% and a net margin of 39.21%. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.57 billion. As a group, equities research analysts anticipate that Texas Instruments Incorporated will post 6.99 EPS for the current fiscal year.
Texas Instruments Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st were given a dividend of $1.30 per share. This is a positive change from Texas Instruments’s previous quarterly dividend of $1.24. The ex-dividend date was Monday, October 30th. This represents a $5.20 annualized dividend and a yield of 3.34%. Texas Instruments’s dividend payout ratio is 67.53%.
Wall Street Analyst Weigh In
TXN has been the subject of several research analyst reports. Rosenblatt Securities decreased their price objective on Texas Instruments from $230.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, October 25th. Barclays decreased their price objective on Texas Instruments from $175.00 to $165.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 25th. StockNews.com initiated coverage on shares of Texas Instruments in a research report on Thursday, October 5th. They set a “hold” rating for the company. Sanford C. Bernstein downgraded shares of Texas Instruments from a “market perform” rating to an “underperform” rating and set a $145.00 price objective for the company. in a research report on Wednesday, August 30th. Finally, KeyCorp dropped their price objective on Texas Instruments from $200.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, October 25th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Texas Instruments presently has an average rating of “Hold” and a consensus price target of $173.57.
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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