Lazard Asset Management LLC Sells 6,632 Shares of Texas Instruments Incorporated (NASDAQ:TXN)

Lazard Asset Management LLC trimmed its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 1.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 379,032 shares of the semiconductor company’s stock after selling 6,632 shares during the period. Lazard Asset Management LLC’s holdings in Texas Instruments were worth $71,071,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TXN. Promus Capital LLC acquired a new position in shares of Texas Instruments during the fourth quarter worth approximately $25,000. Financial Life Planners acquired a new position in shares of Texas Instruments during the fourth quarter worth approximately $26,000. Retirement Wealth Solutions LLC acquired a new position in shares of Texas Instruments during the fourth quarter worth approximately $27,000. Summit Securities Group LLC acquired a new position in shares of Texas Instruments during the fourth quarter worth approximately $27,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Texas Instruments during the fourth quarter worth approximately $28,000. 84.99% of the stock is owned by institutional investors.

Texas Instruments Stock Up 8.7%

Shares of Texas Instruments stock opened at $187.28 on Tuesday. 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 Incorporated has a 52-week low of $139.95 and a 52-week high of $220.39. The stock has a market capitalization of $170.14 billion, a price-to-earnings ratio of 36.08, a P/E/G ratio of 3.30 and a beta of 0.97. The company’s 50 day moving average price is $167.13 and its 200-day moving average price is $184.82.

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

Texas Instruments Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 13th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Wednesday, April 30th. Texas Instruments’s dividend payout ratio (DPR) is presently 103.23%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. DZ Bank upgraded shares of Texas Instruments from a “sell” rating to a “hold” rating and set a $163.00 target price on the stock in a research report on Friday, April 25th. TD Securities reiterated a “hold” rating and set a $160.00 target price on shares of Texas Instruments in a research report on Thursday, April 24th. Baird R W upgraded shares of Texas Instruments from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Wells Fargo & Company reduced their target price on shares of Texas Instruments from $200.00 to $175.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Finally, UBS Group dropped their price target on shares of Texas Instruments from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Texas Instruments has an average rating of “Hold” and an average price target of $189.41.

Insider Activity

In other news, Director Janet F. Clark sold 6,065 shares of Texas Instruments stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $203.62, for a total value of $1,234,955.30. Following the completion of the transaction, the director now owns 10,816 shares of the company’s stock, valued at $2,202,353.92. The trade was a 35.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard K. Templeton sold 97,000 shares of Texas Instruments stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $197.69, for a total value of $19,175,930.00. Following the completion of the transaction, the chairman now directly owns 409,089 shares of the company’s stock, valued at approximately $80,872,804.41. This represents a 19.17% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 297,065 shares of company stock worth $59,734,685. Corporate insiders own 0.57% of the company’s stock.

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.