Legacy Capital Wealth Partners LLC reduced its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN - Free Report) by 74.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,387 shares of the semiconductor company's stock after selling 12,515 shares during the quarter. Legacy Capital Wealth Partners LLC's holdings in Texas Instruments were worth $853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new position in Texas Instruments during the fourth quarter worth $1,649,592,000. Van ECK Associates Corp boosted its stake in Texas Instruments by 54.3% during the first quarter. Van ECK Associates Corp now owns 5,606,825 shares of the semiconductor company's stock worth $976,765,000 after buying an additional 1,972,304 shares during the period. Capital Research Global Investors boosted its stake in Texas Instruments by 4.7% during the first quarter. Capital Research Global Investors now owns 28,715,467 shares of the semiconductor company's stock worth $5,002,522,000 after buying an additional 1,279,828 shares during the period. Baillie Gifford & Co. boosted its stake in Texas Instruments by 65.8% during the first quarter. Baillie Gifford & Co. now owns 2,977,032 shares of the semiconductor company's stock worth $518,629,000 after buying an additional 1,181,841 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Texas Instruments by 6.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,048,334 shares of the semiconductor company's stock worth $3,398,637,000 after buying an additional 1,154,513 shares during the period. 84.99% of the stock is owned by hedge funds and other institutional investors.
Texas Instruments Stock Down 5.8 %
Texas Instruments stock traded down $12.51 during trading hours on Tuesday, reaching $201.83. The stock had a trading volume of 9,282,039 shares, compared to its average volume of 5,559,556. The company has a market cap of $183.76 billion, a price-to-earnings ratio of 31.49, a PEG ratio of 4.66 and a beta of 0.99. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.62 and a quick ratio of 3.49. The business's 50 day moving average price is $199.92 and its 200-day moving average price is $186.63. Texas Instruments Incorporated has a 52 week low of $139.48 and a 52 week high of $214.66.
Texas Instruments (NASDAQ:TXN - Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.06. Texas Instruments had a net margin of 33.01% and a return on equity of 31.10%. The firm had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the prior year, the company posted $1.87 earnings per share. The company's revenue for the quarter was down 15.6% compared to the same quarter last year. Sell-side analysts anticipate that Texas Instruments Incorporated will post 5.11 EPS for the current year.
Texas Instruments Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Wednesday, July 31st were issued a $1.30 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $5.20 annualized dividend and a yield of 2.58%. Texas Instruments's dividend payout ratio (DPR) is presently 81.12%.
Wall Street Analyst Weigh In
Several research analysts have commented on TXN shares. JPMorgan Chase & Co. lifted their price objective on shares of Texas Instruments from $195.00 to $230.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their target price on Texas Instruments from $160.00 to $185.00 and gave the stock a "hold" rating in a research report on Wednesday, July 24th. Morgan Stanley lifted their target price on Texas Instruments from $150.00 to $156.00 and gave the stock an "underweight" rating in a research report on Thursday, July 11th. Wells Fargo & Company assumed coverage on Texas Instruments in a research report on Thursday, May 16th. They set an "underweight" rating and a $150.00 target price for the company. Finally, Jefferies Financial Group lifted their target price on Texas Instruments from $175.00 to $185.00 and gave the stock a "hold" rating in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $204.67.
Check Out Our Latest Analysis on Texas Instruments
Insider Buying and Selling
In related news, VP Shanon J. Leonard sold 2,816 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $208.91, for a total value of $588,290.56. Following the transaction, the vice president now owns 24,112 shares in the company, valued at approximately $5,037,237.92. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Julie C. Knecht sold 7,764 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $209.49, for a total transaction of $1,626,480.36. Following the transaction, the chief accounting officer now owns 11,806 shares in the company, valued at approximately $2,473,238.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Shanon J. Leonard sold 2,816 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $208.91, for a total value of $588,290.56. Following the transaction, the vice president now owns 24,112 shares in the company, valued at approximately $5,037,237.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,558 shares of company stock worth $3,255,323. 0.68% of the stock is owned by company insiders.
Texas Instruments Company Profile
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Free Report)
Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers in the United States and internationally. The company operates through Analog and Embedded Processing segments. 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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