SP Asset Management LLC Raises Stock Position in Texas Instruments Incorporated (NASDAQ:TXN)

SP Asset Management LLC raised its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 17.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,678 shares of the semiconductor company’s stock after buying an additional 246 shares during the period. SP Asset Management LLC’s holdings in Texas Instruments were worth $326,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Richardson Financial Services Inc. bought a new stake in Texas Instruments during the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC bought a new stake in shares of Texas Instruments during the 4th quarter valued at $26,000. Westend Capital Management LLC purchased a new stake in shares of Texas Instruments in the 1st quarter worth $31,000. Norwood Financial Corp bought a new position in Texas Instruments in the 1st quarter worth $32,000. Finally, Fortis Group Advisors LLC lifted its position in Texas Instruments by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 196 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 98 shares in the last quarter. 84.99% of the stock is owned by institutional investors.

Texas Instruments Stock Down 0.7 %

TXN stock opened at $199.80 on Wednesday. The firm has a 50-day simple moving average of $200.66 and a 200-day simple moving average of $188.25. Texas Instruments Incorporated has a 52 week low of $139.48 and a 52 week high of $214.66. The stock has a market capitalization of $182.43 billion, a P/E ratio of 31.17, a P/E/G ratio of 4.29 and a beta of 0.99. The company has a quick ratio of 3.49, a current ratio of 4.62 and a debt-to-equity ratio of 0.75.

Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06. The firm had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.82 billion. Texas Instruments had a return on equity of 31.10% and a net margin of 33.01%. The firm’s revenue was down 15.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.87 earnings per share. Equities analysts forecast that Texas Instruments Incorporated will post 5.11 earnings per share for the current fiscal year.

Texas Instruments Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Wednesday, July 31st were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend was Wednesday, July 31st. Texas Instruments’s payout ratio is currently 81.12%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TXN. Wells Fargo & Company started coverage on Texas Instruments in a research note on Thursday, May 16th. They issued an “underweight” rating and a $150.00 price objective on the stock. Robert W. Baird raised their target price on shares of Texas Instruments from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. KeyCorp upped their price target on shares of Texas Instruments from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Susquehanna raised their price objective on shares of Texas Instruments from $205.00 to $250.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. increased their price target on Texas Instruments from $195.00 to $230.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $204.67.

Insiders Place Their Bets

In other news, VP Mohammad Yunus sold 3,778 shares of Texas Instruments stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $208.90, for a total transaction of $789,224.20. Following the sale, the vice president now owns 28,894 shares of the company’s stock, valued at approximately $6,035,956.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Mohammad Yunus sold 3,778 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $208.90, for a total transaction of $789,224.20. Following the completion of the sale, the vice president now directly owns 28,894 shares of the company’s stock, valued at approximately $6,035,956.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Julie C. Knecht sold 7,764 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $209.49, for a total transaction of $1,626,480.36. Following the completion of the sale, the chief accounting officer now owns 11,806 shares in the company, valued at $2,473,238.94. The disclosure for this sale can be found here. Insiders have sold 15,558 shares of company stock valued at $3,255,323 over the last ninety days. Company insiders own 0.68% of the company’s stock.

Texas Instruments Company Profile

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.