Clearbridge Investments LLC Raises Stock Position in Texas Instruments Incorporated (NASDAQ:TXN)

Clearbridge Investments LLC grew its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 15.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 994,222 shares of the semiconductor company’s stock after acquiring an additional 133,606 shares during the period. Clearbridge Investments LLC owned about 0.11% of Texas Instruments worth $193,406,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Investment Advisory Services Inc. TX ADV grew its holdings in Texas Instruments by 1.6% during the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 3,145 shares of the semiconductor company’s stock valued at $612,000 after buying an additional 51 shares in the last quarter. Verity Asset Management Inc. grew its stake in Texas Instruments by 1.1% during the first quarter. Verity Asset Management Inc. now owns 4,841 shares of the semiconductor company’s stock valued at $843,000 after acquiring an additional 54 shares in the last quarter. Prentice Wealth Management LLC increased its holdings in Texas Instruments by 2.1% in the 2nd quarter. Prentice Wealth Management LLC now owns 2,651 shares of the semiconductor company’s stock valued at $516,000 after acquiring an additional 55 shares during the last quarter. Pure Financial Advisors LLC lifted its stake in Texas Instruments by 2.5% in the 2nd quarter. Pure Financial Advisors LLC now owns 2,228 shares of the semiconductor company’s stock worth $433,000 after purchasing an additional 55 shares in the last quarter. Finally, Bell Investment Advisors Inc lifted its stake in Texas Instruments by 14.1% in the 2nd quarter. Bell Investment Advisors Inc now owns 446 shares of the semiconductor company’s stock worth $87,000 after purchasing an additional 55 shares in the last quarter. Institutional investors own 84.99% of the company’s stock.

Texas Instruments Trading Down 2.4 %

Shares of TXN opened at $201.60 on Wednesday. The firm has a market capitalization of $183.55 billion, a price-to-earnings ratio of 31.45, a PEG ratio of 4.55 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. Texas Instruments Incorporated has a 1-year low of $139.48 and a 1-year high of $214.66. The company has a 50-day moving average of $201.15 and a 200 day moving average of $191.71.

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

Texas Instruments Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Thursday, October 31st will be paid a dividend of $1.36 per share. The ex-dividend date is Thursday, October 31st. This represents a $5.44 annualized dividend and a dividend yield of 2.70%. This is a positive change from Texas Instruments’s previous quarterly dividend of $1.30. Texas Instruments’s dividend payout ratio (DPR) is currently 84.87%.

Insider Activity

In other news, VP Shanon J. Leonard sold 2,816 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $208.91, for a total value of $588,290.56. Following the completion of the sale, the vice president now owns 24,112 shares of the company’s stock, valued at approximately $5,037,237.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Texas Instruments news, CAO Julie C. Knecht sold 7,764 shares of Texas Instruments stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $209.49, for a total value of $1,626,480.36. Following the transaction, the chief accounting officer now owns 11,806 shares in the company, valued at $2,473,238.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Shanon J. Leonard sold 2,816 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $208.91, for a total transaction of $588,290.56. Following the completion of the transaction, the vice president now owns 24,112 shares of the company’s stock, valued at $5,037,237.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,558 shares of company stock worth $3,255,323. Company insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Evercore ISI lifted their target price on Texas Instruments from $255.00 to $268.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. The Goldman Sachs Group upped their price objective on Texas Instruments from $157.00 to $176.00 and gave the stock a “sell” rating in a report on Wednesday, July 24th. Truist Financial cut their target price on shares of Texas Instruments from $203.00 to $198.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. Jefferies Financial Group increased their price objective on shares of Texas Instruments from $175.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Finally, Barclays lifted their price objective on shares of Texas Instruments from $190.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. 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 company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $204.67.

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.