Covenant Asset Management LLC Raises Holdings in Texas Instruments Incorporated (NASDAQ:TXN)

Covenant Asset Management LLC increased its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 2.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 7,789 shares of the semiconductor company’s stock after acquiring an additional 154 shares during the period. Covenant Asset Management LLC’s holdings in Texas Instruments were worth $1,402,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Sittner & Nelson LLC lifted its stake in Texas Instruments by 892.9% during the first quarter. Sittner & Nelson LLC now owns 139 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 125 shares in the last quarter. Cranbrook Wealth Management LLC acquired a new position in Texas Instruments during the first quarter worth $28,000. Coppell Advisory Solutions Corp. acquired a new position in Texas Instruments during the fourth quarter worth $30,000. Magellan Asset Management Ltd acquired a new position in Texas Instruments during the first quarter worth $32,000. Finally, Godsey & Gibb Inc. acquired a new stake in shares of Texas Instruments in the first quarter valued at $36,000. 83.37% of the stock is currently owned by hedge funds and other institutional investors.

Texas Instruments Stock Performance

Shares of NASDAQ TXN traded down $0.62 during midday trading on Tuesday, reaching $162.21. 473,947 shares of the company were exchanged, compared to its average volume of 5,073,236. The company has a current ratio of 5.72, a quick ratio of 4.35 and a debt-to-equity ratio of 0.69. Texas Instruments Incorporated has a 1 year low of $145.97 and a 1 year high of $188.12. The stock has a fifty day simple moving average of $172.20 and a 200 day simple moving average of $173.18. The stock has a market cap of $147.28 billion, a P/E ratio of 19.57, a PEG ratio of 2.37 and a beta of 1.03.

Texas Instruments (NASDAQ:TXN) last released its quarterly earnings results on Tuesday, July 25th. The semiconductor company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $4.37 billion. During the same quarter last year, the company posted $2.45 earnings per share. The business’s revenue was down 13.1% on a year-over-year basis. On average, research analysts forecast that Texas Instruments Incorporated will post 7.34 earnings per share for the current fiscal year.

Texas Instruments Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Friday, July 28th. Texas Instruments’s dividend payout ratio is presently 59.62%.

Insider Buying and Selling at Texas Instruments

In other Texas Instruments news, Director Pamela H. Patsley sold 10,539 shares of Texas Instruments stock in a transaction that occurred on Thursday, July 27th. The stock was 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 of the company’s stock, valued at approximately $5,857,603.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other 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 completion of the sale, the director now directly owns 35,801 shares in the company, valued at approximately $6,445,612.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Pamela H. Patsley sold 10,539 shares of Texas Instruments stock in a transaction that occurred on 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 sale, the director now owns 32,662 shares of the company’s stock, valued at $5,857,603.08. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TXN has been the topic of several analyst reports. StockNews.com initiated coverage on Texas Instruments in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. UBS Group reduced their price objective on Texas Instruments from $190.00 to $185.00 in a research note on Wednesday, July 26th. Wolfe Research initiated coverage on Texas Instruments in a research note on Wednesday, July 19th. They issued a “peer perform” rating on the stock. Barclays raised their price target on Texas Instruments from $165.00 to $175.00 in a research note on Wednesday, July 26th. Finally, Mizuho cut their price target on Texas Instruments from $185.00 to $181.00 in a research note on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Texas Instruments currently has a consensus rating of “Hold” and an average target price of $185.32.

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.