SP Asset Management LLC Boosts Stock Position in Texas Instruments Incorporated (NASDAQ:TXN)

SP Asset Management LLC boosted its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 17.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,678 shares of the semiconductor company’s stock after acquiring an additional 246 shares during the quarter. SP Asset Management LLC’s holdings in Texas Instruments were worth $326,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Texas Instruments by 0.6% during the first quarter. Vanguard Group Inc. now owns 90,572,576 shares of the semiconductor company’s stock worth $15,778,648,000 after acquiring an additional 536,206 shares during the period. Capital Research Global Investors increased its holdings in Texas Instruments by 4.7% during the 1st quarter. Capital Research Global Investors now owns 28,715,467 shares of the semiconductor company’s stock worth $5,002,522,000 after purchasing an additional 1,279,828 shares during the period. Franklin Resources Inc. raised its position in Texas Instruments by 10.1% in the 4th quarter. Franklin Resources Inc. now owns 11,928,210 shares of the semiconductor company’s stock valued at $2,033,283,000 after purchasing an additional 1,095,303 shares in the last quarter. Norges Bank purchased a new position in shares of Texas Instruments in the 4th quarter valued at about $1,649,592,000. Finally, Van ECK Associates Corp grew its position in shares of Texas Instruments by 6.2% during the second quarter. Van ECK Associates Corp now owns 5,955,353 shares of the semiconductor company’s stock worth $1,158,495,000 after buying an additional 348,528 shares in the last quarter. 84.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on TXN. Rosenblatt Securities raised their target price on shares of Texas Instruments from $210.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Susquehanna raised their price objective on shares of Texas Instruments from $205.00 to $250.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Truist Financial lowered their target price on shares of Texas Instruments from $203.00 to $198.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st. JPMorgan Chase & Co. raised their price target on Texas Instruments from $195.00 to $230.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Benchmark reaffirmed a “buy” rating and set a $230.00 price target on shares of Texas Instruments in a report on Wednesday, July 24th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $204.67.

Texas Instruments Stock Performance

Shares of Texas Instruments stock opened at $199.80 on Wednesday. The firm’s fifty day simple moving average is $200.66 and its 200-day simple moving average is $188.25. Texas Instruments Incorporated has a 12 month low of $139.48 and a 12 month high of $214.66. The stock has a market capitalization of $182.43 billion, a price-to-earnings ratio of 31.17, a PEG ratio of 4.29 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.

Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. Texas Instruments had a net margin of 33.01% and a return on equity of 31.10%. The company had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same period in the previous year, the business posted $1.87 earnings per share. Texas Instruments’s quarterly revenue was down 15.6% on a year-over-year basis. As a group, equities analysts forecast that Texas Instruments Incorporated will post 5.11 earnings per share for the current year.

Texas Instruments Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Wednesday, July 31st were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend was Wednesday, July 31st. Texas Instruments’s dividend payout ratio is presently 81.12%.

Insiders Place Their Bets

In related news, CAO Julie C. Knecht sold 7,764 shares of Texas Instruments stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $209.49, for a total value of $1,626,480.36. Following the transaction, the chief accounting officer now directly owns 11,806 shares in the company, valued at approximately $2,473,238.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Julie C. Knecht sold 7,764 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $209.49, for a total transaction of $1,626,480.36. Following the completion of the transaction, the chief accounting officer now directly owns 11,806 shares of the company’s stock, valued at $2,473,238.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Mohammad Yunus sold 3,778 shares of Texas Instruments stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $208.90, for a total value of $789,224.20. Following the completion of the sale, the vice president now directly owns 28,894 shares in the company, valued at approximately $6,035,956.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,558 shares of company stock valued at $3,255,323. 0.68% of the stock is owned by company insiders.

About Texas Instruments

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.