Covington Investment Advisors Inc. Has $11.59 Million Holdings in Texas Instruments Incorporated (NASDAQ:TXN)

Covington Investment Advisors Inc. trimmed its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,833 shares of the semiconductor company’s stock after selling 195 shares during the quarter. Texas Instruments accounts for 1.0% of Covington Investment Advisors Inc.’s investment portfolio, making the stock its 22nd largest holding. Covington Investment Advisors Inc.’s holdings in Texas Instruments were worth $11,594,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Fiduciary Alliance LLC grew its holdings in Texas Instruments by 25.3% during the fourth quarter. Fiduciary Alliance LLC now owns 36,801 shares of the semiconductor company’s stock worth $6,901,000 after buying an additional 7,424 shares in the last quarter. Ameritas Advisory Services LLC grew its stake in Texas Instruments by 73.7% in the 4th quarter. Ameritas Advisory Services LLC now owns 8,739 shares of the semiconductor company’s stock valued at $1,639,000 after purchasing an additional 3,707 shares during the period. HB Wealth Management LLC increased its position in shares of Texas Instruments by 4.4% during the 4th quarter. HB Wealth Management LLC now owns 99,856 shares of the semiconductor company’s stock valued at $18,724,000 after purchasing an additional 4,238 shares during the last quarter. Taika Capital LP bought a new stake in shares of Texas Instruments during the 3rd quarter worth $4,394,000. Finally, Hamlin Capital Management LLC boosted its holdings in shares of Texas Instruments by 9.2% in the 4th quarter. Hamlin Capital Management LLC now owns 871,623 shares of the semiconductor company’s stock worth $163,438,000 after buying an additional 73,715 shares during the last quarter. 84.99% of the stock is currently owned by institutional investors.

Insider Activity at Texas Instruments

In related news, Director Mark A. Blinn sold 590 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $180.71, for a total transaction of $106,618.90. Following the sale, the director now directly owns 11,717 shares of the company’s stock, valued at $2,117,379.07. This trade represents a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Richard K. Templeton sold 97,000 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $197.69, for a total value of $19,175,930.00. Following the completion of the transaction, the chairman now directly owns 409,089 shares of the company’s stock, valued at approximately $80,872,804.41. This trade represents a 19.17 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 297,655 shares of company stock valued at $59,841,304. 0.57% of the stock is owned by insiders.

Analysts Set New Price Targets

TXN has been the topic of several research analyst reports. Benchmark reiterated a “buy” rating and issued a $230.00 price objective on shares of Texas Instruments in a research note on Friday, January 24th. Mizuho dropped their price target on shares of Texas Instruments from $200.00 to $190.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Wells Fargo & Company lowered their target price on shares of Texas Instruments from $215.00 to $208.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of Texas Instruments in a report on Tuesday, January 21st. Finally, Truist Financial dropped their price objective on Texas Instruments from $199.00 to $195.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Texas Instruments currently has an average rating of “Hold” and an average price target of $209.20.

Texas Instruments Trading Down 2.0 %

NASDAQ:TXN opened at $180.76 on Friday. Texas Instruments Incorporated has a one year low of $159.11 and a one year high of $220.39. The company’s 50-day simple moving average is $186.77 and its 200 day simple moving average is $194.89. The firm has a market capitalization of $164.48 billion, a P/E ratio of 34.83, a PEG ratio of 3.30 and a beta of 0.98. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.12 and a quick ratio of 2.88.

Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings results on Thursday, January 23rd. The semiconductor company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.10. Texas Instruments had a return on equity of 28.08% and a net margin of 30.68%. During the same period in the prior year, the company posted $1.49 EPS. As a group, analysts forecast that Texas Instruments Incorporated will post 5.35 EPS for the current fiscal year.

Texas Instruments Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Friday, January 31st were paid a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Friday, January 31st. Texas Instruments’s payout ratio is 104.82%.

Texas Instruments Profile

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.