Teachers Retirement System of The State of Kentucky trimmed its position in Texas Instruments Incorporated (NASDAQ:TXN) by 6.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,400 shares of the semiconductor company’s stock after selling 10,050 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Texas Instruments were worth $19,478,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in shares of Texas Instruments by 115.6% during the 1st quarter. Wellington Management Group LLP now owns 21,559,378 shares of the semiconductor company’s stock worth $2,154,430,000 after purchasing an additional 11,560,600 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Texas Instruments by 46.0% during the 1st quarter. Invesco Ltd. now owns 7,091,006 shares of the semiconductor company’s stock worth $708,603,000 after purchasing an additional 2,234,895 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Texas Instruments by 112.1% during the 2nd quarter. Nordea Investment Management AB now owns 3,610,394 shares of the semiconductor company’s stock worth $458,520,000 after buying an additional 1,907,982 shares during the last quarter. FIL Ltd lifted its position in shares of Texas Instruments by 1,697.6% during the 2nd quarter. FIL Ltd now owns 1,897,730 shares of the semiconductor company’s stock worth $240,954,000 after buying an additional 1,792,160 shares during the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Texas Instruments during the 2nd quarter worth $142,131,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TXN stock traded down $0.96 on Wednesday, hitting $139.68. The company had a trading volume of 3,591,662 shares, compared to its average volume of 5,619,914. The stock’s 50-day moving average is $137.12 and its two-hundred day moving average is $121.61. Texas Instruments Incorporated has a twelve month low of $93.09 and a twelve month high of $148.37. The firm has a market cap of $126.89 billion, a P/E ratio of 26.47, a P/E/G ratio of 2.89 and a beta of 1.14. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.94 and a current ratio of 3.92.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 31st were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $3.60 annualized dividend and a yield of 2.58%. Texas Instruments’s dividend payout ratio is currently 68.70%.
In other Texas Instruments news, Director Carrie Smith Cox sold 26,905 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $130.00, for a total value of $3,497,650.00. Following the completion of the sale, the director now owns 46,221 shares of the company’s stock, valued at $6,008,730. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Darla H. Whitaker sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $138.52, for a total value of $5,540,800.00. Following the completion of the sale, the vice president now directly owns 89,524 shares of the company’s stock, valued at approximately $12,400,864.48. The disclosure for this sale can be found here. Insiders have sold 236,495 shares of company stock valued at $31,419,345 in the last ninety days. 0.73% of the stock is currently owned by insiders.
Several analysts recently weighed in on the company. Rosenblatt Securities upped their price objective on Texas Instruments from $135.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Oppenheimer restated a “buy” rating and set a $150.00 price objective (up from $120.00) on shares of Texas Instruments in a research report on Friday, July 17th. Citigroup upped their price objective on Texas Instruments from $138.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Royal Bank of Canada upped their price objective on Texas Instruments from $125.00 to $140.00 in a research report on Wednesday, July 22nd. Finally, Zacks Investment Research upgraded Texas Instruments from a “sell” rating to a “hold” rating and set a $138.00 price objective for the company in a research report on Wednesday, July 15th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $134.00.
Texas Instruments Profile
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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