Cim Investment Management Inc. decreased its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 2.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,425 shares of the semiconductor company’s stock after selling 102 shares during the period. Cim Investment Management Inc.’s holdings in Texas Instruments were worth $851,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of TXN. OLD Mission Capital LLC bought a new position in shares of Texas Instruments in the 3rd quarter worth $207,000. E Fund Management Co. Ltd. bought a new position in shares of Texas Instruments in the 1st quarter worth $4,060,000. Quilter Plc increased its holdings in shares of Texas Instruments by 53.1% in the 1st quarter. Quilter Plc now owns 22,904 shares of the semiconductor company’s stock worth $4,328,000 after buying an additional 7,947 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Texas Instruments in the 1st quarter worth $414,000. Finally, Cresset Asset Management LLC increased its holdings in shares of Texas Instruments by 39.6% in the 1st quarter. Cresset Asset Management LLC now owns 21,060 shares of the semiconductor company’s stock worth $3,980,000 after buying an additional 5,977 shares during the last quarter. 82.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on TXN shares. Citigroup increased their price target on shares of Texas Instruments from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, July 15th. Susquehanna Bancshares increased their target price on shares of Texas Instruments from $220.00 to $230.00 and gave the company a “positive” rating in a report on Thursday, July 1st. Zacks Investment Research lowered shares of Texas Instruments from a “buy” rating to a “hold” rating and set a $201.00 target price on the stock. in a report on Tuesday, June 29th. Rosenblatt Securities increased their target price on shares of Texas Instruments from $220.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, July 22nd. Finally, Longbow Research lowered shares of Texas Instruments from a “buy” rating to a “neutral” rating in a report on Monday, September 20th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $204.27.
Texas Instruments (NASDAQ:TXN) last posted its earnings results on Tuesday, July 20th. The semiconductor company reported $2.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.82 by $0.23. Texas Instruments had a net margin of 40.12% and a return on equity of 69.28%. The firm had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same period last year, the company posted $1.48 EPS. The company’s quarterly revenue was up 41.4% compared to the same quarter last year. Equities research analysts anticipate that Texas Instruments Incorporated will post 7.88 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 15th. Stockholders of record on Monday, November 1st will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.40%. This is a boost from Texas Instruments’s previous quarterly dividend of $1.02. The ex-dividend date is Friday, October 29th. Texas Instruments’s dividend payout ratio (DPR) is currently 68.34%.
In related news, Director Jean M. Hobby sold 900 shares of Texas Instruments stock in a transaction dated Thursday, August 5th. The shares were sold at an average price of $192.04, for a total transaction of $172,836.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Julie C. Knecht sold 7,399 shares of Texas Instruments stock in a transaction dated Thursday, August 5th. The shares were sold at an average price of $192.17, for a total transaction of $1,421,865.83. Following the transaction, the chief accounting officer now directly owns 16,472 shares of the company’s stock, valued at $3,165,424.24. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.
About Texas Instruments
Texas Instruments Incorporated engages in the design, manufacture, test, and sell analog and embedded semiconductors, which include industrial, automotive, personal electronics, communications equipment, and enterprise systems. It operates through the following segments: Analog and Embedded Processing.
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