Pinnacle Financial Partners Inc. lifted its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 4.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,484 shares of the semiconductor company’s stock after purchasing an additional 400 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Texas Instruments were worth $974,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in TXN. Meadow Creek Investment Management LLC lifted its position in Texas Instruments by 0.3% during the second quarter. Meadow Creek Investment Management LLC now owns 150,128 shares of the semiconductor company’s stock worth $17,229,000 after acquiring an additional 512 shares during the last quarter. Tyers Asset Management LLC boosted its stake in Texas Instruments by 0.3% in the 2nd quarter. Tyers Asset Management LLC now owns 262,724 shares of the semiconductor company’s stock valued at $30,150,000 after purchasing an additional 896 shares during the period. Flinton Capital Management LLC boosted its stake in Texas Instruments by 0.3% in the 2nd quarter. Flinton Capital Management LLC now owns 319,022 shares of the semiconductor company’s stock valued at $36,611,000 after purchasing an additional 1,088 shares during the period. Northern Trust Corp grew its holdings in Texas Instruments by 0.8% in the 2nd quarter. Northern Trust Corp now owns 13,882,619 shares of the semiconductor company’s stock valued at $1,593,168,000 after buying an additional 104,543 shares in the last quarter. Finally, Neuburgh Advisers LLC grew its holdings in Texas Instruments by 0.3% in the 2nd quarter. Neuburgh Advisers LLC now owns 206,426 shares of the semiconductor company’s stock valued at $23,690,000 after buying an additional 704 shares in the last quarter. Institutional investors own 85.69% of the company’s stock.
In other news, SVP Cynthia Hoff Trochu sold 6,185 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $128.22, for a total transaction of $793,040.70. Following the completion of the transaction, the senior vice president now directly owns 62,417 shares in the company, valued at $8,003,107.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R Gregory Delagi sold 450,000 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $128.31, for a total value of $57,739,500.00. Following the completion of the transaction, the insider now owns 243,755 shares of the company’s stock, valued at $31,276,204.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,251,117 shares of company stock worth $159,473,823. Company insiders own 0.89% of the company’s stock.
NASDAQ TXN traded up $1.03 on Wednesday, hitting $128.07. 188,449 shares of the company’s stock were exchanged, compared to its average volume of 3,628,678. The stock has a 50-day moving average of $123.73 and a 200-day moving average of $114.53. The stock has a market cap of $118.66 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 2.40 and a beta of 1.26. Texas Instruments Incorporated has a 52 week low of $87.70 and a 52 week high of $130.37. The company has a current ratio of 3.01, a quick ratio of 2.22 and a debt-to-equity ratio of 0.54.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $1.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.08. Texas Instruments had a return on equity of 57.25% and a net margin of 34.98%. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same quarter last year, the company posted $1.37 EPS. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. As a group, analysts predict that Texas Instruments Incorporated will post 5.24 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Wednesday, July 31st were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Tuesday, July 30th. Texas Instruments’s dividend payout ratio (DPR) is presently 56.83%.
A number of equities research analysts have recently weighed in on the company. Loop Capital lifted their target price on Texas Instruments to $140.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. CIBC upped their price target on shares of Texas Instruments from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. ValuEngine raised shares of Texas Instruments from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Charter Equity upgraded shares of Texas Instruments from a “market perform” rating to a “buy” rating in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Texas Instruments from $130.00 to $138.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $118.71.
About Texas Instruments
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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