Cambridge Financial Group Inc. cut its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,660 shares of the semiconductor company’s stock after selling 635 shares during the quarter. Texas Instruments makes up about 3.4% of Cambridge Financial Group Inc.’s portfolio, making the stock its 18th largest position. Cambridge Financial Group Inc.’s holdings in Texas Instruments were worth $5,062,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of TXN. Sugarloaf Wealth Management LLC acquired a new position in Texas Instruments during the fourth quarter worth $27,000. Credit Agricole S A raised its holdings in Texas Instruments by 85.8% during the fourth quarter. Credit Agricole S A now owns 210 shares of the semiconductor company’s stock worth $27,000 after buying an additional 97 shares during the last quarter. Atlas Private Wealth Management acquired a new position in Texas Instruments during the fourth quarter worth $28,000. FSA Wealth Management LLC acquired a new position in Texas Instruments during the fourth quarter worth $38,000. Finally, IndexIQ Advisors LLC acquired a new position in Texas Instruments during the fourth quarter worth $41,000. 86.02% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:TXN traded down $0.03 on Friday, reaching $113.43. 3,010,741 shares of the company’s stock were exchanged, compared to its average volume of 4,875,743. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.49 and a quick ratio of 2.65. The firm has a market cap of $104.13 billion, a price-to-earnings ratio of 21.77, a P/E/G ratio of 3.03 and a beta of 1.16. Texas Instruments Incorporated has a 52 week low of $93.09 and a 52 week high of $135.70. The stock has a fifty day simple moving average of $110.42 and a 200-day simple moving average of $118.55.
Texas Instruments (NASDAQ:TXN) last issued its earnings results on Tuesday, April 21st. The semiconductor company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.23. The firm had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.14 billion. Texas Instruments had a net margin of 35.17% and a return on equity of 57.45%. The company’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter last year, the business earned $1.26 earnings per share. As a group, sell-side analysts predict that Texas Instruments Incorporated will post 4.01 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 4th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $3.60 dividend on an annualized basis and a yield of 3.17%. Texas Instruments’s dividend payout ratio is presently 68.70%.
In other Texas Instruments news, VP Ahmad Bahai sold 3,185 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $115.57, for a total transaction of $368,090.45. Following the completion of the transaction, the vice president now owns 27,168 shares in the company, valued at $3,139,805.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is owned by company insiders.
Several research firms have weighed in on TXN. Loop Capital downgraded shares of Texas Instruments from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $145.00 to $108.00 in a report on Wednesday, April 22nd. Nomura Securities reiterated a “hold” rating and issued a $120.00 target price on shares of Texas Instruments in a report on Tuesday, March 10th. UBS Group increased their target price on shares of Texas Instruments from $109.00 to $111.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. Citigroup lowered their target price on shares of Texas Instruments from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, March 30th. Finally, Rosenblatt Securities lowered their target price on shares of Texas Instruments from $150.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $123.13.
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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