Essex Savings Bank acquired a new position in Texas Instruments Incorporated (NASDAQ:TXN) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,655 shares of the semiconductor company’s stock, valued at approximately $210,000.
A number of other hedge funds have also modified their holdings of the stock. Toth Financial Advisory Corp bought a new position in Texas Instruments during the 2nd quarter valued at $31,000. Evolution Wealth Advisors LLC boosted its stake in Texas Instruments by 89.7% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 277 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 131 shares in the last quarter. HHM Wealth Advisors LLC bought a new position in Texas Instruments during the 1st quarter valued at $34,000. Perennial Advisors LLC acquired a new stake in shares of Texas Instruments during the 1st quarter valued at $26,000. Finally, Pathstone Family Office LLC lifted its position in shares of Texas Instruments by 65.0% during the 1st quarter. Pathstone Family Office LLC now owns 353 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 139 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently commented on the company. Deutsche Bank increased their price objective on Texas Instruments from $115.00 to $125.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. Barclays increased their target price on Texas Instruments from $105.00 to $120.00 and gave the company an “underweight” rating in a report on Monday, July 20th. Susquehanna Bancshares increased their target price on Texas Instruments from $155.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Zacks Investment Research upgraded Texas Instruments from a “sell” rating to a “hold” rating and set a $138.00 target price for the company in a report on Wednesday, July 15th. Finally, Morgan Stanley increased their target price on Texas Instruments from $108.00 to $116.00 and gave the company an “underweight” rating in a report on Monday, July 20th. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $134.00.
Texas Instruments (NASDAQ:TXN) last posted its earnings results on Tuesday, July 21st. The semiconductor company reported $1.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.60. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $2.96 billion. Texas Instruments had a net margin of 36.83% and a return on equity of 60.61%. During the same period in the prior year, the business posted $1.36 earnings per share. As a group, research analysts predict that Texas Instruments Incorporated will post 5.05 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Friday, July 31st will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Thursday, July 30th. Texas Instruments’s dividend payout ratio is currently 68.70%.
In other news, VP Ahmad Bahai sold 3,185 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $115.57, for a total value of $368,090.45. Following the sale, the vice president now directly owns 27,168 shares of the company’s stock, valued at $3,139,805.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Bing Xie sold 53,800 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $130.92, for a total value of $7,043,496.00. Following the completion of the sale, the senior vice president now directly owns 76,096 shares in the company, valued at $9,962,488.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,396 shares of company stock worth $15,983,413. 0.73% of the stock is currently owned by company insiders.
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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