Covenant Multifamily Offices LLC increased its position in Texas Instruments Incorporated (NASDAQ:TXN) by 2.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 19,093 shares of the semiconductor company’s stock after purchasing an additional 511 shares during the period. Texas Instruments accounts for about 0.7% of Covenant Multifamily Offices LLC’s holdings, making the stock its 16th biggest holding. Covenant Multifamily Offices LLC’s holdings in Texas Instruments were worth $2,025,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the company. Cordasco Financial Network acquired a new position in Texas Instruments in the 1st quarter valued at about $27,000. CX Institutional increased its position in Texas Instruments by 95.9% in the 1st quarter. CX Institutional now owns 286 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 140 shares during the period. Highwater Wealth Management LLC acquired a new position in Texas Instruments in the 4th quarter valued at about $34,000. Intercontinental Wealth Advisors LLC acquired a new position in Texas Instruments in the 4th quarter valued at about $40,000. Finally, Horan Capital Advisors LLC. acquired a new position in Texas Instruments in the 1st quarter valued at about $46,000. 86.66% of the stock is owned by institutional investors and hedge funds.
In related news, Director Pamela H. Patsley sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $106.20, for a total value of $743,400.00. Following the sale, the director now owns 37,160 shares of the company’s stock, valued at approximately $3,946,392. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Ahmad Bahai sold 5,165 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $107.30, for a total value of $554,204.50. Following the completion of the sale, the vice president now directly owns 41,911 shares in the company, valued at approximately $4,497,050.30. The disclosure for this sale can be found here. Insiders have sold a total of 874,605 shares of company stock worth $101,373,855 in the last three months. Corporate insiders own 0.89% of the company’s stock.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported $1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.09. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.48 billion. Texas Instruments had a return on equity of 55.48% and a net margin of 34.84%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.35 EPS. Analysts expect that Texas Instruments Incorporated will post 5.16 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Friday, May 3rd. Texas Instruments’s dividend payout ratio (DPR) is 56.83%.
Several equities analysts recently issued reports on the company. Loop Capital boosted their price target on Texas Instruments to $126.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. ValuEngine upgraded Texas Instruments from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Deutsche Bank boosted their target price on Texas Instruments from $100.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, April 24th. Robert W. Baird boosted their target price on Texas Instruments from $97.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, UBS Group reiterated a “sell” rating and set a $90.00 target price on shares of Texas Instruments in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $110.72.
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Texas Instruments Company 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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