Texas Instruments Incorporated (NASDAQ:TXN) Holdings Raised by Covenant Asset Management LLC

Covenant Asset Management LLC boosted its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 2.0% in the second quarter, Holdings Channel reports. The institutional investor owned 7,789 shares of the semiconductor company’s stock after acquiring an additional 154 shares during the quarter. Covenant Asset Management LLC’s holdings in Texas Instruments were worth $1,402,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Berkshire Bank lifted its position in Texas Instruments by 13.8% in the 2nd quarter. Berkshire Bank now owns 7,913 shares of the semiconductor company’s stock worth $1,424,000 after buying an additional 962 shares in the last quarter. American National Bank increased its stake in shares of Texas Instruments by 0.8% during the 2nd quarter. American National Bank now owns 13,019 shares of the semiconductor company’s stock worth $2,344,000 after purchasing an additional 107 shares during the last quarter. Heron Bay Capital Management increased its stake in shares of Texas Instruments by 77.1% during the 2nd quarter. Heron Bay Capital Management now owns 30,232 shares of the semiconductor company’s stock worth $5,442,000 after purchasing an additional 13,157 shares during the last quarter. Ignite Planners LLC increased its stake in shares of Texas Instruments by 6.2% during the 2nd quarter. Ignite Planners LLC now owns 1,282 shares of the semiconductor company’s stock worth $223,000 after purchasing an additional 75 shares during the last quarter. Finally, Buckley Wealth Management LLC increased its stake in shares of Texas Instruments by 11.6% during the 2nd quarter. Buckley Wealth Management LLC now owns 12,524 shares of the semiconductor company’s stock worth $2,254,000 after purchasing an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 83.37% of the company’s stock.

Insider Transactions at Texas Instruments

In other news, Director Carrie Smith Cox sold 16,055 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $180.04, for a total transaction of $2,890,542.20. Following the completion of the transaction, the director now directly owns 35,801 shares of the company’s stock, valued at approximately $6,445,612.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Carrie Smith Cox sold 16,055 shares of Texas Instruments stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $180.04, for a total transaction of $2,890,542.20. Following the completion of the transaction, the director now directly owns 35,801 shares of the company’s stock, valued at approximately $6,445,612.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pamela H. Patsley sold 10,539 shares of Texas Instruments stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $179.34, for a total transaction of $1,890,064.26. Following the transaction, the director now directly owns 32,662 shares of the company’s stock, valued at $5,857,603.08. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Wolfe Research assumed coverage on shares of Texas Instruments in a research note on Wednesday, July 19th. They set a “peer perform” rating on the stock. Citigroup increased their price target on shares of Texas Instruments from $173.00 to $182.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 18th. StockNews.com assumed coverage on shares of Texas Instruments in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Susquehanna restated a “positive” rating and set a $215.00 price target on shares of Texas Instruments in a research note on Monday. Finally, Truist Financial lowered their target price on shares of Texas Instruments from $178.00 to $174.00 in a research note on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $185.32.

Texas Instruments Stock Performance

NASDAQ TXN traded down $0.62 during midday trading on Tuesday, hitting $162.21. The company had a trading volume of 473,947 shares, compared to its average volume of 5,073,236. The company has a quick ratio of 4.35, a current ratio of 5.72 and a debt-to-equity ratio of 0.69. The stock has a market cap of $147.28 billion, a price-to-earnings ratio of 19.57, a P/E/G ratio of 2.37 and a beta of 1.03. The firm has a fifty day simple moving average of $172.20 and a two-hundred day simple moving average of $173.18. Texas Instruments Incorporated has a fifty-two week low of $145.97 and a fifty-two week high of $188.12.

Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings results on Tuesday, July 25th. The semiconductor company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.11. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.37 billion. Texas Instruments had a net margin of 40.84% and a return on equity of 50.90%. The business’s quarterly revenue was down 13.1% on a year-over-year basis. During the same period last year, the business posted $2.45 EPS. Equities analysts forecast that Texas Instruments Incorporated will post 7.34 earnings per share for the current fiscal year.

Texas Instruments Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend was Friday, July 28th. Texas Instruments’s payout ratio is 59.62%.

About Texas Instruments

Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers in the United States and internationally. It operates in two segments, Analog and Embedded Processing. 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.