Frank Rimerman Advisors LLC reduced its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN – Free Report) by 21.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,971 shares of the semiconductor company’s stock after selling 3,568 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Texas Instruments were worth $2,693,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of TXN. Dagco Inc. bought a new position in shares of Texas Instruments in the first quarter worth about $32,000. CBIZ Investment Advisory Services LLC increased its position in Texas Instruments by 67.6% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 186 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 75 shares in the last quarter. LGT Financial Advisors LLC increased its position in Texas Instruments by 328.9% during the 2nd quarter. LGT Financial Advisors LLC now owns 193 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 148 shares in the last quarter. Mid American Wealth Advisory Group Inc. bought a new position in Texas Instruments in the 2nd quarter valued at approximately $40,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in Texas Instruments in the first quarter valued at approximately $42,000. 84.99% of the stock is owned by institutional investors and hedge funds.
Texas Instruments Stock Down 2.7%
Shares of NASDAQ TXN opened at $154.99 on Tuesday. The company’s 50 day moving average price is $173.61 and its 200-day moving average price is $187.49. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.90 and a current ratio of 4.45. Texas Instruments Incorporated has a 52-week low of $139.95 and a 52-week high of $221.69. The company has a market capitalization of $140.83 billion, a P/E ratio of 28.33, a price-to-earnings-growth ratio of 3.05 and a beta of 1.02.
Texas Instruments Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Friday, October 31st were paid a $1.42 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.7%. This is a positive change from Texas Instruments’s previous quarterly dividend of $1.36. Texas Instruments’s dividend payout ratio (DPR) is presently 103.84%.
Insider Activity
In related news, VP Christine Witzsche sold 1,000 shares of the company’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $164.31, for a total transaction of $164,310.00. Following the sale, the vice president owned 20,821 shares in the company, valued at $3,421,098.51. This represents a 4.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Ahmad Bahai sold 1,500 shares of Texas Instruments stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $205.35, for a total value of $308,025.00. Following the completion of the sale, the vice president owned 38,883 shares of the company’s stock, valued at approximately $7,984,624.05. The trade was a 3.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.57% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several brokerages have recently issued reports on TXN. Weiss Ratings reiterated a “hold (c+)” rating on shares of Texas Instruments in a report on Wednesday, October 8th. The Goldman Sachs Group reduced their price objective on Texas Instruments from $230.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, October 22nd. DZ Bank reiterated a “sell” rating and issued a $158.00 target price on shares of Texas Instruments in a research report on Wednesday, July 23rd. Robert W. Baird set a $195.00 price objective on shares of Texas Instruments and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Finally, BNP Paribas raised shares of Texas Instruments to a “strong sell” rating in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat, Texas Instruments currently has a consensus rating of “Hold” and a consensus price target of $191.67.
Get Our Latest Research Report on TXN
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.
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