Fulton Bank N.A. Trims Holdings in Texas Instruments Incorporated (NASDAQ:TXN)

Fulton Bank N.A. cut its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 19.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 7,373 shares of the semiconductor company’s stock after selling 1,801 shares during the quarter. Fulton Bank N.A.’s holdings in Texas Instruments were worth $1,434,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Texas Instruments during the fourth quarter valued at $1,649,592,000. Van ECK Associates Corp boosted its stake in Texas Instruments by 54.3% during the first quarter. Van ECK Associates Corp now owns 5,606,825 shares of the semiconductor company’s stock valued at $976,765,000 after buying an additional 1,972,304 shares during the period. California Public Employees Retirement System boosted its stake in Texas Instruments by 33.2% during the fourth quarter. California Public Employees Retirement System now owns 6,035,704 shares of the semiconductor company’s stock valued at $1,028,846,000 after buying an additional 1,502,989 shares during the period. Baillie Gifford & Co. boosted its stake in Texas Instruments by 338.4% during the fourth quarter. Baillie Gifford & Co. now owns 1,795,191 shares of the semiconductor company’s stock valued at $306,008,000 after buying an additional 1,385,725 shares during the period. Finally, Capital Research Global Investors boosted its stake in Texas Instruments by 4.7% during the first quarter. Capital Research Global Investors now owns 28,715,467 shares of the semiconductor company’s stock valued at $5,002,522,000 after buying an additional 1,279,828 shares during the period. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Texas Instruments Trading Up 3.2 %

NASDAQ:TXN traded up $5.76 during mid-day trading on Tuesday, reaching $186.95. 6,208,050 shares of the company’s stock traded hands, compared to its average volume of 5,571,663. Texas Instruments Incorporated has a 12-month low of $139.48 and a 12-month high of $210.84. The firm has a market capitalization of $170.69 billion, a price-to-earnings ratio of 29.17, a PEG ratio of 4.08 and a beta of 0.99. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.62 and a quick ratio of 3.49. The company has a 50 day moving average price of $197.48 and a 200-day moving average price of $181.22.

Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. Texas Instruments had a return on equity of 31.10% and a net margin of 33.01%. The company had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the previous year, the business earned $1.87 EPS. Texas Instruments’s revenue was down 15.6% compared to the same quarter last year. On average, sell-side analysts predict that Texas Instruments Incorporated will post 5.11 earnings per share for the current year.

Texas Instruments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 13th. Investors of record on Wednesday, July 31st will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $5.20 dividend on an annualized basis and a yield of 2.78%. Texas Instruments’s dividend payout ratio is presently 81.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TXN shares. KeyCorp lifted their price objective on Texas Instruments from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Morgan Stanley lifted their price target on Texas Instruments from $150.00 to $156.00 and gave the stock an “underweight” rating in a research note on Thursday, July 11th. Benchmark reaffirmed a “buy” rating and set a $230.00 price target on shares of Texas Instruments in a research note on Wednesday, July 24th. Robert W. Baird lifted their price target on Texas Instruments from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, Barclays lifted their price target on Texas Instruments from $190.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $198.64.

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.