Cary Street Partners Asset Management LLC Raises Position in Texas Instruments Incorporated (NASDAQ:TXN)

Cary Street Partners Asset Management LLC boosted its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 13.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,804 shares of the semiconductor company’s stock after buying an additional 3,173 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in Texas Instruments were worth $4,569,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of TXN. Morgan Stanley lifted its stake in Texas Instruments by 14.2% in the 3rd quarter. Morgan Stanley now owns 14,154,358 shares of the semiconductor company’s stock worth $2,250,685,000 after purchasing an additional 1,755,582 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Texas Instruments by 33.2% during the 4th quarter. California Public Employees Retirement System now owns 6,035,704 shares of the semiconductor company’s stock worth $1,028,846,000 after purchasing an additional 1,502,989 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Texas Instruments by 565.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,693,577 shares of the semiconductor company’s stock worth $288,687,000 after purchasing an additional 1,439,066 shares during the last quarter. Baillie Gifford & Co. raised its holdings in Texas Instruments by 338.4% in the 4th 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, J.P. Morgan Private Wealth Advisors LLC acquired a new position in Texas Instruments in the third quarter valued at about $196,135,000. 84.99% of the stock is owned by hedge funds and other institutional investors.

Texas Instruments Stock Down 0.8 %

Shares of TXN traded down $1.40 during midday trading on Wednesday, reaching $175.02. The stock had a trading volume of 1,942,861 shares, compared to its average volume of 5,650,920. Texas Instruments Incorporated has a 1-year low of $139.48 and a 1-year high of $188.12. The company’s fifty day simple moving average is $169.94 and its two-hundred day simple moving average is $162.63. The company has a market cap of $159.35 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 3.82 and a beta of 1.04. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.91 and a quick ratio of 3.76.

Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.07 by $0.13. Texas Instruments had a net margin of 35.16% and a return on equity of 35.28%. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same period last year, the business earned $1.85 EPS. Texas Instruments’s revenue for the quarter was down 16.4% compared to the same quarter last year. Equities research analysts expect that Texas Instruments Incorporated will post 5.21 earnings per share for the current year.

Texas Instruments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 21st. Investors of record on Wednesday, May 8th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $5.20 annualized dividend and a yield of 2.97%. Texas Instruments’s dividend payout ratio is currently 81.12%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Oppenheimer reissued a “market perform” rating on shares of Texas Instruments in a research note on Wednesday, April 24th. The Goldman Sachs Group increased their price objective on shares of Texas Instruments from $137.00 to $157.00 and gave the stock a “sell” rating in a research report on Wednesday, April 24th. Evercore ISI increased their price objective on shares of Texas Instruments from $213.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Robert W. Baird increased their price objective on shares of Texas Instruments from $125.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Finally, Stifel Nicolaus increased their price objective on shares of Texas Instruments from $160.00 to $172.00 and gave the stock a “hold” rating in a research report on Wednesday, April 24th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Texas Instruments currently has a consensus rating of “Hold” and an average target price of $180.74.

About Texas Instruments

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.