Procyon Advisors LLC Increases Stake in Texas Instruments Incorporated (NASDAQ:TXN)

Procyon Advisors LLC boosted its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 18.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,502 shares of the semiconductor company’s stock after acquiring an additional 2,369 shares during the period. Procyon Advisors LLC’s holdings in Texas Instruments were worth $2,687,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Texas Instruments by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 93,567,277 shares of the semiconductor company’s stock valued at $17,544,800,000 after purchasing an additional 649,620 shares during the period. Geode Capital Management LLC raised its position in Texas Instruments by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 21,554,142 shares of the semiconductor company’s stock worth $4,032,599,000 after acquiring an additional 267,352 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Texas Instruments by 11.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 21,487,468 shares of the semiconductor company’s stock worth $4,029,115,000 after acquiring an additional 2,237,035 shares during the last quarter. Norges Bank acquired a new position in Texas Instruments during the fourth quarter worth about $2,584,490,000. Finally, Alliancebernstein L.P. raised its position in Texas Instruments by 6.9% during the fourth quarter. Alliancebernstein L.P. now owns 12,706,971 shares of the semiconductor company’s stock worth $2,382,684,000 after acquiring an additional 822,797 shares during the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TXN shares. Barclays cut Texas Instruments from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $180.00 to $125.00 in a report on Tuesday, April 22nd. Summit Insights downgraded shares of Texas Instruments from a “buy” rating to a “hold” rating in a report on Thursday, April 24th. Morgan Stanley reiterated an “underweight” rating and set a $148.00 price target (up from $146.00) on shares of Texas Instruments in a report on Thursday, April 24th. Citigroup lowered their price target on shares of Texas Instruments from $235.00 to $210.00 and set a “buy” rating for the company in a report on Friday, April 11th. Finally, Truist Financial lowered their price target on shares of Texas Instruments from $195.00 to $171.00 and set a “hold” rating for the company in a report on Thursday, April 24th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Texas Instruments presently has an average rating of “Hold” and an average price target of $189.41.

Texas Instruments Stock Up 1.0%

Shares of NASDAQ:TXN opened at $192.42 on Friday. The stock has a market capitalization of $174.81 billion, a price-to-earnings ratio of 37.08, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97. Texas Instruments Incorporated has a 1-year low of $139.95 and a 1-year high of $220.39. The company’s fifty day moving average is $168.87 and its two-hundred day moving average is $182.16. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.88 and a current ratio of 4.12.

Texas Instruments (NASDAQ:TXN) last released its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.22. Texas Instruments had a net margin of 30.68% and a return on equity of 28.08%. The business had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter last year, the company earned $1.10 EPS. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts anticipate that Texas Instruments Incorporated will post 5.35 EPS for the current year.

Texas Instruments Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Wednesday, April 30th were given a $1.36 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $5.44 dividend on an annualized basis and a yield of 2.83%. Texas Instruments’s dividend payout ratio is presently 103.23%.

Texas Instruments Company 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.