Covington Capital Management Reduces Stock Position in Texas Instruments Incorporated (NASDAQ:TXN)

Covington Capital Management lessened its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 1.7% during the 2nd quarter, Holdings Channel reports. The firm owned 3,201 shares of the semiconductor company’s stock after selling 56 shares during the quarter. Covington Capital Management’s holdings in Texas Instruments were worth $616,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of TXN. Argent Advisors Inc. boosted its position in shares of Texas Instruments by 2.7% during the second quarter. Argent Advisors Inc. now owns 2,058 shares of the semiconductor company’s stock worth $396,000 after buying an additional 54 shares during the period. Ballentine Partners LLC boosted its position in shares of Texas Instruments by 0.3% during the second quarter. Ballentine Partners LLC now owns 17,546 shares of the semiconductor company’s stock worth $3,374,000 after buying an additional 55 shares during the period. Procyon Private Wealth Partners LLC boosted its position in shares of Texas Instruments by 3.9% during the second quarter. Procyon Private Wealth Partners LLC now owns 1,545 shares of the semiconductor company’s stock worth $297,000 after buying an additional 58 shares during the period. Human Investing LLC boosted its position in shares of Texas Instruments by 0.4% during the second quarter. Human Investing LLC now owns 13,907 shares of the semiconductor company’s stock worth $2,674,000 after buying an additional 59 shares during the period. Finally, DeDora Capital Inc. boosted its position in shares of Texas Instruments by 1.9% during the second quarter. DeDora Capital Inc. now owns 3,398 shares of the semiconductor company’s stock worth $653,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 82.51% of the company’s stock.

A number of research firms recently issued reports on TXN. JPMorgan Chase & Co. lifted their target price on Texas Instruments from $215.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, July 22nd. Citigroup lifted their target price on Texas Instruments from $215.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, July 15th. Summit Insights lowered Texas Instruments from a “buy” rating to a “hold” rating in a report on Thursday, July 22nd. Susquehanna lifted their target price on Texas Instruments from $220.00 to $230.00 and gave the company a “positive” rating in a report on Thursday, July 1st. Finally, Raymond James lifted their target price on Texas Instruments from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, July 22nd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $204.27.

Shares of NASDAQ:TXN opened at $189.20 on Thursday. The business’s 50 day simple moving average is $191.49 and its 200-day simple moving average is $189.25. The firm has a market capitalization of $174.67 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 2.59 and a beta of 1.01. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.08 and a quick ratio of 4.23. Texas Instruments Incorporated has a 12 month low of $141.33 and a 12 month high of $200.92.

Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings data on Tuesday, July 20th. The semiconductor company reported $2.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.82 by $0.23. Texas Instruments had a return on equity of 69.28% and a net margin of 40.12%. The firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the previous year, the firm posted $1.48 EPS. The company’s quarterly revenue was up 41.4% compared to the same quarter last year. On average, equities analysts anticipate that Texas Instruments Incorporated will post 7.88 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 15th. Investors of record on Monday, November 1st will be given a dividend of $1.15 per share. This is an increase from Texas Instruments’s previous quarterly dividend of $1.02. This represents a $4.60 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Friday, October 29th. Texas Instruments’s payout ratio is currently 68.34%.

In other Texas Instruments news, CAO Julie C. Knecht sold 7,399 shares of the business’s stock in a transaction on Thursday, August 5th. The stock was sold at an average price of $192.17, for a total value of $1,421,865.83. Following the completion of the transaction, the chief accounting officer now directly owns 16,472 shares in the company, valued at approximately $3,165,424.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jean M. Hobby sold 900 shares of the business’s stock in a transaction on Thursday, August 5th. The shares were sold at an average price of $192.04, for a total value of $172,836.00. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Texas Instruments Company Profile

Texas Instruments Incorporated engages in the design, manufacture, test, and sell analog and embedded semiconductors, which include industrial, automotive, personal electronics, communications equipment, and enterprise systems. It operates through the following segments: Analog and Embedded Processing.

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

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