Metropolitan Life Insurance Co NY cut its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 4.7% during the first quarter, HoldingsChannel.com reports. The firm owned 179,515 shares of the semiconductor company’s stock after selling 8,762 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in Texas Instruments were worth $19,041,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of TXN. B. Riley Wealth Management Inc. increased its holdings in Texas Instruments by 14.3% during the 1st quarter. B. Riley Wealth Management Inc. now owns 2,445 shares of the semiconductor company’s stock worth $259,000 after purchasing an additional 305 shares during the period. Weiss Asset Management LP purchased a new position in Texas Instruments during the 1st quarter worth $202,000. M Holdings Securities Inc. purchased a new position in Texas Instruments during the 1st quarter worth $216,000. Nordea Investment Management AB increased its holdings in Texas Instruments by 0.6% during the 1st quarter. Nordea Investment Management AB now owns 2,537,323 shares of the semiconductor company’s stock worth $269,138,000 after purchasing an additional 15,033 shares during the period. Finally, Advisory Services Network LLC increased its holdings in Texas Instruments by 103.2% during the 1st quarter. Advisory Services Network LLC now owns 12,294 shares of the semiconductor company’s stock worth $1,304,000 after purchasing an additional 6,245 shares during the period. Institutional investors and hedge funds own 85.34% of the company’s stock.
TXN has been the subject of several recent analyst reports. Longbow Research lowered Texas Instruments from a “buy” rating to a “neutral” rating and set a $116.20 price target for the company. in a research note on Wednesday, April 17th. Nomura initiated coverage on Texas Instruments in a research note on Tuesday, May 7th. They issued a “neutral” rating and a $106.00 price target for the company. Robert W. Baird restated a “hold” rating and issued a $97.00 price target on shares of Texas Instruments in a research note on Tuesday, February 26th. Rosenblatt Securities restated a “buy” rating and issued a $120.00 price target on shares of Texas Instruments in a research note on Monday, April 22nd. Finally, BidaskClub lowered Texas Instruments from a “hold” rating to a “sell” rating in a research note on Wednesday, May 22nd. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $111.18.
In other news, Chairman Richard K. Templeton sold 475,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $117.38, for a total transaction of $55,755,500.00. Following the transaction, the chairman now directly owns 930,287 shares in the company, valued at approximately $109,197,088.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Carrie Smith Cox sold 17,002 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $116.08, for a total value of $1,973,592.16. Following the transaction, the director now owns 40,299 shares in the company, valued at $4,677,907.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 879,332 shares of company stock worth $103,024,864. 0.89% of the stock is currently owned by insiders.
TXN stock opened at $107.72 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.70 and a current ratio of 3.68. Texas Instruments Incorporated has a 12-month low of $87.70 and a 12-month high of $119.32. The stock has a market capitalization of $100.68 billion, a P/E ratio of 19.87, a PEG ratio of 2.06 and a beta of 1.24.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings data on Tuesday, April 23rd. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.09. Texas Instruments had a return on equity of 55.48% and a net margin of 34.84%. The company had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same period in the previous year, the firm posted $1.35 EPS. Texas Instruments’s revenue was down 5.1% compared to the same quarter last year. As a group, analysts expect that Texas Instruments Incorporated will post 5.14 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 6th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.86%. The ex-dividend date was Friday, May 3rd. Texas Instruments’s payout ratio is 56.83%.
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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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