Eqis Capital Management Inc. decreased its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 42.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,872 shares of the semiconductor company’s stock after selling 14,446 shares during the quarter. Eqis Capital Management Inc.’s holdings in Texas Instruments were worth $2,108,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Cordasco Financial Network acquired a new stake in shares of Texas Instruments during the 1st quarter worth approximately $27,000. CX Institutional grew its position in shares of Texas Instruments by 95.9% during the 1st quarter. CX Institutional now owns 286 shares of the semiconductor company’s stock worth $30,000 after buying an additional 140 shares during the period. Highwater Wealth Management LLC acquired a new stake in Texas Instruments in the 4th quarter valued at $34,000. Intercontinental Wealth Advisors LLC acquired a new stake in Texas Instruments in the 4th quarter valued at $40,000. Finally, Essex Savings Bank acquired a new stake in Texas Instruments in the 4th quarter valued at $42,000. 86.77% of the stock is owned by hedge funds and other institutional investors.
TXN stock traded up $0.45 during midday trading on Friday, hitting $112.60. The company had a trading volume of 4,137,840 shares, compared to its average volume of 4,868,061. 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 52 week low of $87.70 and a 52 week high of $119.32. The company has a market capitalization of $105.22 billion, a P/E ratio of 20.77, a PEG ratio of 2.15 and a beta of 1.20.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 6th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.74%. Texas Instruments’s dividend payout ratio is presently 56.83%.
In other news, VP Ahmad Bahai sold 5,165 shares of the stock in a transaction on Friday, February 15th. The stock was sold at an average price of $107.30, for a total value of $554,204.50. Following the sale, the vice president now directly owns 41,911 shares of the company’s stock, valued at $4,497,050.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Richard K. Templeton sold 160,000 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $116.77, for a total value of $18,683,200.00. Following the completion of the sale, the chief executive officer now directly owns 930,287 shares in the company, valued at $108,629,612.99. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 957,349 shares of company stock worth $111,382,883. 0.89% of the stock is owned by insiders.
Several research firms recently issued reports on TXN. Royal Bank of Canada reissued a “sector perform” rating and issued a $124.00 price target on shares of Texas Instruments in a research report on Tuesday, April 30th. Zacks Investment Research downgraded shares of Texas Instruments from a “hold” rating to a “sell” rating in a research report on Monday, January 28th. Robert W. Baird raised their price objective on Texas Instruments from $97.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Bank of America reiterated a “neutral” rating and set a $122.00 target price (up from $114.00) on shares of Texas Instruments in a research note on Wednesday, April 24th. Finally, Nomura assumed coverage on Texas Instruments in a research note on Tuesday. They set a “neutral” rating and a $106.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $111.18.
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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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