Jennison Associates LLC boosted its position in Texas Instruments Incorporated (NASDAQ:TXN – Free Report) by 35.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,992,090 shares of the semiconductor company’s stock after acquiring an additional 777,619 shares during the quarter. Jennison Associates LLC owned 0.33% of Texas Instruments worth $621,218,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cloud Capital Management LLC acquired a new position in Texas Instruments in the first quarter valued at $28,000. Dagco Inc. acquired a new position in Texas Instruments in the first quarter valued at $32,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Texas Instruments by 67.6% during the first quarter. CBIZ Investment Advisory Services LLC now owns 186 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 75 shares in the last quarter. LGT Financial Advisors LLC lifted its stake in shares of Texas Instruments by 328.9% during the second quarter. LGT Financial Advisors LLC now owns 193 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 148 shares in the last quarter. Finally, Mid American Wealth Advisory Group Inc. acquired a new position in shares of Texas Instruments during the second quarter worth about $40,000. Institutional investors and hedge funds own 84.99% of the company’s stock.
Texas Instruments Stock Down 1.5%
Shares of NASDAQ TXN opened at $166.91 on Wednesday. Texas Instruments Incorporated has a 1 year low of $139.95 and a 1 year high of $221.69. The firm has a market cap of $151.66 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 3.22 and a beta of 1.01. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.90 and a current ratio of 4.45. The stock’s 50-day simple moving average is $184.45 and its 200-day simple moving average is $186.57.
Texas Instruments Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 12th. Investors of record on Friday, October 31st will be issued a $1.42 dividend. This is an increase from Texas Instruments’s previous quarterly dividend of $1.36. This represents a $5.68 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, October 31st. Texas Instruments’s dividend payout ratio is presently 99.45%.
Analyst Upgrades and Downgrades
TXN has been the topic of a number of recent research reports. DZ Bank restated a “sell” rating and set a $158.00 price objective on shares of Texas Instruments in a research note on Wednesday, July 23rd. Bank of America cut Texas Instruments from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $208.00 to $190.00 in a research note on Monday, October 13th. Rosenblatt Securities reduced their price objective on Texas Instruments from $245.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, October 22nd. Robert W. Baird set a $195.00 price objective on Texas Instruments and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Finally, Benchmark restated a “buy” rating on shares of Texas Instruments in a research note on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have assigned a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $191.67.
Read Our Latest Research Report on TXN
Insiders Place Their Bets
In related news, VP Ahmad Bahai sold 1,500 shares of the business’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $205.35, for a total value of $308,025.00. Following the completion of the sale, the vice president directly owned 38,883 shares of the company’s stock, valued at $7,984,624.05. The trade was a 3.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is currently owned by corporate insiders.
Texas Instruments Profile
Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers in the United States and internationally. The company operates through Analog and Embedded Processing segments. The Analog segment offers power products to manage power requirements across various voltage levels, including battery-management solutions, DC/DC switching regulators, AC/DC and isolated controllers and converters, power switches, linear regulators, voltage references, and lighting products.
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