Primecap Management Co. CA lowered its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 0.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 33,361,569 shares of the semiconductor company’s stock after selling 253,606 shares during the quarter. Texas Instruments accounts for about 2.6% of Primecap Management Co. CA’s investment portfolio, making the stock its 6th largest holding. Primecap Management Co. CA’s holdings in Texas Instruments were worth $3,538,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently modified their holdings of the stock. Cordasco Financial Network bought a new stake in Texas Instruments during the first quarter worth $27,000. CX Institutional lifted its stake in Texas Instruments by 95.9% during the first quarter. CX Institutional now owns 286 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 140 shares during the last quarter. Farmers National Bank bought a new stake in Texas Instruments during the first quarter worth $35,000. Icon Wealth Partners LLC bought a new stake in Texas Instruments during the first quarter worth $37,000. Finally, Global Wealth Management Investment Advisory Inc. lifted its stake in Texas Instruments by 919.4% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 367 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 331 shares during the last quarter. 85.38% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:TXN traded down $3.21 during trading hours on Friday, hitting $107.97. 100,429 shares of the company were exchanged, compared to its average volume of 4,529,501. The firm has a market cap of $100.90 billion, a P/E ratio of 19.87, a P/E/G ratio of 2.12 and a beta of 1.24. The company has a quick ratio of 2.70, a current ratio of 3.68 and a debt-to-equity ratio of 0.59. Texas Instruments Incorporated has a one year low of $87.70 and a one year high of $119.32.
Texas Instruments (NASDAQ:TXN) last announced its earnings results on Tuesday, April 23rd. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.09. The business had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.48 billion. Texas Instruments had a return on equity of 55.48% and a net margin of 34.84%. Texas Instruments’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period last year, the company earned $1.35 EPS. As a group, equities research analysts expect that Texas Instruments Incorporated will post 5.14 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 6th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Friday, May 3rd. Texas Instruments’s dividend payout ratio is currently 56.83%.
In other Texas Instruments news, insider Bing Xie sold 20,000 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $116.75, for a total transaction of $2,335,000.00. Following the completion of the sale, the insider now directly owns 53,934 shares in the company, valued at approximately $6,296,794.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Carrie Smith Cox sold 17,002 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $116.08, for a total value of $1,973,592.16. Following the sale, the director now owns 40,299 shares of the company’s stock, valued at $4,677,907.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 879,332 shares of company stock valued at $103,024,864. 0.89% of the stock is owned by corporate insiders.
Several equities research analysts have weighed in on TXN shares. Sanford C. Bernstein cut Texas Instruments from an “outperform” rating to a “market perform” rating and set a $108.00 target price for the company. in a research note on Monday, March 25th. Wells Fargo & Co cut their target price on Texas Instruments from $63.00 to $58.00 and set a “market perform” rating for the company in a research note on Tuesday, April 30th. Nomura started coverage on Texas Instruments in a research note on Tuesday, May 7th. They set a “neutral” rating and a $106.00 target price for the company. ValuEngine upgraded Texas Instruments from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Finally, Morgan Stanley upped their target price on Texas Instruments from $100.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $111.18.
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Texas Instruments Profile
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.
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