PNC Financial Services Group Inc. reduced its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN – Free Report) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,438,611 shares of the semiconductor company’s stock after selling 2,803 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.16% of Texas Instruments worth $258,979,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of TXN. Fairfield Bush & CO. purchased a new position in shares of Texas Instruments in the first quarter valued at $56,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Texas Instruments by 32.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 996,880 shares of the semiconductor company’s stock valued at $182,908,000 after purchasing an additional 243,907 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in Texas Instruments by 7.4% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,023 shares of the semiconductor company’s stock valued at $1,105,000 after buying an additional 413 shares during the period. Wsfs Capital Management LLC bought a new stake in Texas Instruments during the first quarter valued at $337,000. Finally, Bridgefront Capital LLC bought a new stake in Texas Instruments during the first quarter valued at $315,000. 83.37% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the company. Sanford C. Bernstein lowered Texas Instruments from a “market perform” rating to an “underperform” rating and set a $145.00 price objective for the company. in a research note on Wednesday, August 30th. StockNews.com assumed coverage on Texas Instruments in a research note on Thursday, October 5th. They set a “hold” rating for the company. UBS Group dropped their price target on Texas Instruments from $190.00 to $185.00 in a research note on Wednesday, July 26th. Rosenblatt Securities dropped their price target on Texas Instruments from $230.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, October 25th. Finally, Benchmark reaffirmed a “buy” rating and set a $210.00 price target on shares of Texas Instruments in a research note on Wednesday, November 15th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Texas Instruments presently has a consensus rating of “Hold” and a consensus target price of $173.57.
Texas Instruments Stock Down 1.6 %
Shares of Texas Instruments stock traded down $2.42 during midday trading on Tuesday, hitting $153.12. The company had a trading volume of 384,612 shares, compared to its average volume of 5,139,007. The stock has a market capitalization of $139.06 billion, a P/E ratio of 20.20, a P/E/G ratio of 2.41 and a beta of 1.01. Texas Instruments Incorporated has a 52-week low of $139.48 and a 52-week high of $188.12. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.22 and a current ratio of 5.69. The company has a 50 day moving average of $153.42 and a 200 day moving average of $165.71.
Texas Instruments (NASDAQ:TXN – Get Free Report) last released 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). The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.57 billion. Texas Instruments had a net margin of 39.21% and a return on equity of 45.23%. On average, equities analysts predict that Texas Instruments Incorporated will post 6.99 earnings per share for the current fiscal year.
Texas Instruments Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.40%. This is a boost from Texas Instruments’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Monday, October 30th. Texas Instruments’s dividend payout ratio is presently 67.53%.
In other news, Director Ronald Kirk sold 12,299 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $145.51, for a total transaction of $1,789,627.49. Following the transaction, the director now directly owns 13,637 shares of the company’s stock, valued at approximately $1,984,319.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.54% of the company’s stock.
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.
- Five stocks we like better than Texas Instruments
- How to Find Undervalued Stocks
- Zoom Video Communications: A tech phoenix ready to rise
- Stocks with Unusual Volume: How to Find Unusual Volume Stocks in Real Time
- The only two airline stocks worth buying: One is a Goldman pick
- How to Calculate Retirement Income: MarketBeat’s Calculator
- Ride the momentum: Apparel stocks soaring at 52-week highs
Receive News & Ratings for Texas Instruments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Texas Instruments and related companies with MarketBeat.com's FREE daily email newsletter.