Jennison Associates LLC Lowers Stock Position in Texas Instruments Incorporated (NASDAQ:TXN)

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Jennison Associates LLC lowered its position in Texas Instruments Incorporated (NASDAQ:TXN) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 781,491 shares of the semiconductor company’s stock after selling 27,062 shares during the period. Jennison Associates LLC owned about 0.08% of Texas Instruments worth $89,684,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Advisory Services Network LLC increased its holdings in Texas Instruments by 103.2% during the first quarter. Advisory Services Network LLC now owns 12,294 shares of the semiconductor company’s stock worth $1,304,000 after buying an additional 6,245 shares during the last quarter. Dowling & Yahnke LLC increased its holdings in Texas Instruments by 0.7% during the second quarter. Dowling & Yahnke LLC now owns 62,176 shares of the semiconductor company’s stock worth $7,135,000 after buying an additional 422 shares during the last quarter. ARP Americas LP increased its holdings in Texas Instruments by 233.4% during the second quarter. ARP Americas LP now owns 21,998 shares of the semiconductor company’s stock worth $2,524,000 after buying an additional 15,400 shares during the last quarter. M Holdings Securities Inc. purchased a new stake in Texas Instruments during the first quarter worth about $216,000. Finally, Duality Advisers LP increased its holdings in Texas Instruments by 15.0% during the first quarter. Duality Advisers LP now owns 101,550 shares of the semiconductor company’s stock worth $10,771,000 after buying an additional 13,280 shares during the last quarter. Institutional investors own 86.09% of the company’s stock.

NASDAQ:TXN traded down $4.92 on Friday, reaching $120.29. 5,312,370 shares of the company’s stock were exchanged, compared to its average volume of 5,237,867. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.01 and a quick ratio of 2.22. The firm has a market cap of $116.90 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 2.37 and a beta of 1.25. Texas Instruments Incorporated has a 52 week low of $87.70 and a 52 week high of $130.37. The stock has a fifty day simple moving average of $121.26 and a 200-day simple moving average of $112.89.

Texas Instruments (NASDAQ:TXN) last released its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.08. Texas Instruments had a net margin of 34.98% and a return on equity of 57.25%. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same period last year, the business earned $1.37 earnings per share. Texas Instruments’s revenue was down 8.7% compared to the same quarter last year. As a group, sell-side analysts predict that Texas Instruments Incorporated will post 5.23 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Wednesday, July 31st were given a $0.77 dividend. The ex-dividend date was Tuesday, July 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.56%. Texas Instruments’s dividend payout ratio (DPR) is currently 56.83%.

In other news, VP R Gregory Delagi sold 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $127.28, for a total value of $19,092,000.00. Following the completion of the transaction, the vice president now directly owns 243,755 shares in the company, valued at $31,025,136.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Cynthia Hoff Trochu sold 6,185 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $128.22, for a total transaction of $793,040.70. Following the completion of the transaction, the senior vice president now owns 62,417 shares of the company’s stock, valued at $8,003,107.74. The disclosure for this sale can be found here. Insiders sold 1,251,117 shares of company stock valued at $159,473,823 over the last 90 days. 0.89% of the stock is owned by company insiders.

A number of research firms recently issued reports on TXN. SunTrust Banks raised their price objective on shares of Texas Instruments to $133.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of Texas Instruments from $130.00 to $138.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. BidaskClub upgraded shares of Texas Instruments from a “sell” rating to a “hold” rating in a report on Saturday, June 1st. Royal Bank of Canada restated a “sector perform” rating and set a $124.00 price objective on shares of Texas Instruments in a report on Tuesday, April 30th. Finally, UBS Group increased their target price on shares of Texas Instruments from $93.00 to $100.00 and gave the stock a “sell” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $119.12.

About Texas Instruments

Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. It operates in two segments, Analog and Embedded Processing. The Analog segment offers power products to manage power requirements in various levels using battery management solutions, portable components, power supply controls, point-of-load products, switches and interfaces, integrated protection devices, high-voltage products, and mobile lighting and display products.

Featured Article: Hold Rating

Institutional Ownership by Quarter for Texas Instruments (NASDAQ:TXN)

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