Bingham Osborn & Scarborough LLC Reduces Position in Texas Instruments Incorporated (TXN)

Bingham Osborn & Scarborough LLC lowered its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 15.6% during the first quarter, HoldingsChannel.com reports. The fund owned 1,898 shares of the semiconductor company’s stock after selling 352 shares during the quarter. Bingham Osborn & Scarborough LLC’s holdings in Texas Instruments were worth $201,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in TXN. Cordasco Financial Network bought a new stake in Texas Instruments in the 1st quarter valued at $27,000. CX Institutional increased its holdings 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 buying an additional 140 shares during the period. Highwater Wealth Management LLC bought a new stake in Texas Instruments in the 4th quarter valued at $34,000. Intercontinental Wealth Advisors LLC bought a new stake in Texas Instruments in the 4th quarter valued at $40,000. Finally, Essex Savings Bank bought a new stake in Texas Instruments in the 4th quarter valued at $42,000. 86.77% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have issued reports on TXN shares. BidaskClub lowered shares of Texas Instruments from a “hold” rating to a “sell” rating in a report on Friday, January 25th. Morgan Stanley reissued an “equal weight” rating and issued a $100.00 price target (down previously from $103.00) on shares of Texas Instruments in a report on Thursday, January 24th. ValuEngine lowered shares of Texas Instruments from a “buy” rating to a “hold” rating in a report on Monday, February 25th. BMO Capital Markets reissued a “buy” rating and issued a $120.00 price target on shares of Texas Instruments in a report on Thursday, January 24th. Finally, Deutsche Bank boosted their price target on shares of Texas Instruments from $100.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nine have given a buy rating to the stock. Texas Instruments currently has a consensus rating of “Hold” and a consensus target price of $111.18.

Shares of NASDAQ:TXN opened at $112.15 on Friday. Texas Instruments Incorporated has a 52 week low of $87.70 and a 52 week high of $119.32. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.70 and a current ratio of 3.68. The firm has a market capitalization of $106.69 billion, a PE ratio of 20.69, a PEG ratio of 2.25 and a beta of 1.20.

Texas Instruments (NASDAQ:TXN) last issued its earnings results on Tuesday, April 23rd. The semiconductor company reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.09. Texas Instruments had a net margin of 34.84% and a return on equity of 55.48%. The company had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter in the previous year, the company earned $1.35 EPS. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, sell-side analysts forecast that Texas Instruments Incorporated will post 5.16 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 6th will be paid a $0.77 dividend. The ex-dividend date is Friday, May 3rd. This represents a $3.08 annualized dividend and a dividend yield of 2.75%. Texas Instruments’s dividend payout ratio is presently 56.83%.

In related news, SVP Bing Xie sold 8,693 shares of the company’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $922,761.95. Following the transaction, the senior vice president now owns 53,901 shares in the company, valued at approximately $5,721,591.15. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Ahmad Bahai sold 5,165 shares of the company’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $107.30, for a total transaction of $554,204.50. Following the transaction, the vice president now owns 41,911 shares in the company, valued at approximately $4,497,050.30. The disclosure for this sale can be found here. Insiders sold a total of 957,349 shares of company stock worth $111,382,883 in the last 90 days. 0.89% of the stock is owned by corporate insiders.

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About Texas Instruments

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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Institutional Ownership by Quarter for Texas Instruments (NASDAQ:TXN)

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