Primecap Management Co. CA Decreases Stake in Texas Instruments Incorporated (NASDAQ:TXN)

Primecap Management Co. CA reduced its position in Texas Instruments Incorporated (NASDAQ:TXN) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,341,904 shares of the semiconductor company’s stock after selling 176,638 shares during the period. Texas Instruments makes up about 2.2% of Primecap Management Co. CA’s holdings, making the stock its 11th biggest holding. Primecap Management Co. CA owned approximately 1.68% of Texas Instruments worth $2,984,461,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Excalibur Management Corp raised its stake in shares of Texas Instruments by 2.7% in the 2nd quarter. Excalibur Management Corp now owns 2,131 shares of the semiconductor company’s stock valued at $415,000 after purchasing an additional 57 shares in the last quarter. Citizens Financial Group Inc. RI raised its stake in shares of Texas Instruments by 25.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 37,007 shares of the semiconductor company’s stock valued at $7,199,000 after purchasing an additional 7,501 shares in the last quarter. One Capital Management LLC raised its stake in shares of Texas Instruments by 47.3% in the 2nd quarter. One Capital Management LLC now owns 3,188 shares of the semiconductor company’s stock valued at $620,000 after purchasing an additional 1,024 shares in the last quarter. Abound Wealth Management raised its stake in shares of Texas Instruments by 252.4% in the 2nd quarter. Abound Wealth Management now owns 504 shares of the semiconductor company’s stock valued at $98,000 after purchasing an additional 361 shares in the last quarter. Finally, Fairfield Financial Advisors LTD acquired a new stake in Texas Instruments during the second quarter worth about $165,000. 84.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TXN has been the topic of several research reports. Jefferies Financial Group increased their price objective on shares of Texas Instruments from $175.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Stifel Nicolaus raised their price target on shares of Texas Instruments from $172.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. KeyCorp raised their price target on shares of Texas Instruments from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald restated a “neutral” rating and issued a $210.00 price target on shares of Texas Instruments in a research note on Wednesday, August 21st. Finally, Evercore ISI raised their price target on shares of Texas Instruments from $255.00 to $268.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Texas Instruments has an average rating of “Hold” and an average price target of $204.67.

Texas Instruments Stock Down 0.7 %

Shares of NASDAQ:TXN opened at $198.47 on Tuesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.49 and a current ratio of 4.62. The company has a market cap of $181.21 billion, a PE ratio of 30.96, a price-to-earnings-growth ratio of 4.26 and a beta of 0.99. Texas Instruments Incorporated has a 52 week low of $139.48 and a 52 week high of $214.66. The firm has a 50 day simple moving average of $200.63 and a 200 day simple moving average of $189.21.

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

Texas Instruments Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Wednesday, July 31st were given a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $5.20 annualized dividend and a dividend yield of 2.62%. Texas Instruments’s dividend payout ratio (DPR) is presently 81.12%.

Insider Activity at Texas Instruments

In related news, CEO Haviv Ilan sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $209.44, for a total value of $251,328.00. Following the completion of the sale, the chief executive officer now owns 158,676 shares in the company, valued at approximately $33,233,101.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Texas Instruments news, CEO Haviv Ilan sold 1,200 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $209.44, for a total value of $251,328.00. Following the completion of the sale, the chief executive officer now owns 158,676 shares in the company, valued at approximately $33,233,101.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Julie C. Knecht sold 7,764 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $209.49, for a total transaction of $1,626,480.36. Following the completion of the sale, the chief accounting officer now owns 11,806 shares of the company’s stock, valued at approximately $2,473,238.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,558 shares of company stock worth $3,255,323. 0.68% of the stock is 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.