Conning Inc. trimmed its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN – Free Report) by 5.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 202,638 shares of the semiconductor company’s stock after selling 11,492 shares during the period. Texas Instruments comprises 1.2% of Conning Inc.’s investment portfolio, making the stock its 24th largest position. Conning Inc.’s holdings in Texas Instruments were worth $36,412,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Texas Instruments by 100,025.9% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,297,017,974 shares of the semiconductor company’s stock valued at $233,489,176,000 after acquiring an additional 1,295,722,587 shares during the period. BlackRock Inc. raised its holdings in Texas Instruments by 2.6% during the 1st quarter. BlackRock Inc. now owns 79,313,240 shares of the semiconductor company’s stock worth $14,753,056,000 after buying an additional 2,035,602 shares during the period. State Street Corp raised its holdings in Texas Instruments by 1.9% during the 1st quarter. State Street Corp now owns 37,818,973 shares of the semiconductor company’s stock worth $7,034,694,000 after buying an additional 721,775 shares during the period. Wellington Management Group LLP raised its holdings in Texas Instruments by 5.6% during the 1st quarter. Wellington Management Group LLP now owns 28,632,144 shares of the semiconductor company’s stock worth $5,325,865,000 after buying an additional 1,521,464 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Texas Instruments by 1.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 17,733,010 shares of the semiconductor company’s stock worth $3,276,639,000 after buying an additional 202,952 shares during the period. 83.37% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, Director Pamela H. Patsley sold 10,539 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $179.34, for a total transaction of $1,890,064.26. Following the completion of the sale, the director now directly owns 32,662 shares in the company, valued at approximately $5,857,603.08. The sale was disclosed in a filing with the SEC, which is available through this link. In other Texas Instruments news, Director Carrie Smith Cox sold 16,055 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $180.04, for a total value of $2,890,542.20. Following the completion of the sale, the director now owns 35,801 shares of the company’s stock, valued at $6,445,612.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Pamela H. Patsley sold 10,539 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $179.34, for a total value of $1,890,064.26. Following the completion of the sale, the director now directly owns 32,662 shares of the company’s stock, valued at approximately $5,857,603.08. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.
Texas Instruments Stock Performance
NASDAQ TXN traded up $0.94 on Monday, reaching $159.95. The stock had a trading volume of 2,921,548 shares, compared to its average volume of 5,035,279. The company has a debt-to-equity ratio of 0.69, a current ratio of 5.72 and a quick ratio of 4.35. The firm has a fifty day moving average of $167.89 and a two-hundred day moving average of $172.22. Texas Instruments Incorporated has a 1-year low of $145.97 and a 1-year high of $188.12. The company has a market cap of $145.23 billion, a P/E ratio of 19.11, a price-to-earnings-growth ratio of 2.32 and a beta of 1.03.
Texas Instruments (NASDAQ:TXN – Get Free Report) last released its earnings results on Tuesday, July 25th. The semiconductor company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.11. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.37 billion. Texas Instruments had a return on equity of 50.90% and a net margin of 40.84%. Texas Instruments’s quarterly revenue was down 13.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.45 EPS. On average, equities research analysts anticipate that Texas Instruments Incorporated will post 7.33 EPS for the current year.
Texas Instruments Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st will be given a dividend of $1.30 per share. This is an increase from Texas Instruments’s previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Monday, October 30th. Texas Instruments’s dividend payout ratio is currently 59.62%.
Wall Street Analysts Forecast Growth
TXN has been the topic of a number of research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $230.00 target price on shares of Texas Instruments in a report on Wednesday, September 20th. Mizuho lowered their price target on Texas Instruments from $185.00 to $181.00 in a research note on Wednesday, July 26th. Truist Financial lowered their price target on Texas Instruments from $178.00 to $174.00 in a research note on Wednesday, July 26th. UBS Group decreased their target price on Texas Instruments from $190.00 to $185.00 in a research report on Wednesday, July 26th. Finally, Citigroup upped their target price on Texas Instruments from $173.00 to $182.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $185.32.
Texas Instruments Company Profile
Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers in the United States and internationally. It operates in two segments, Analog and Embedded Processing. 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.