Kovitz Investment Group Partners LLC Boosts Position in Texas Instruments Incorporated (NASDAQ:TXN)

Kovitz Investment Group Partners LLC boosted its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 49.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 84,820 shares of the semiconductor company’s stock after purchasing an additional 28,196 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Texas Instruments were worth $17,521,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ grew its position in Texas Instruments by 4.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 234,232 shares of the semiconductor company’s stock valued at $45,535,000 after acquiring an additional 9,608 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Texas Instruments by 60.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 174,310 shares of the semiconductor company’s stock valued at $33,909,000 after acquiring an additional 65,512 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Texas Instruments by 454.5% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,256,289 shares of the semiconductor company’s stock valued at $244,386,000 after acquiring an additional 1,029,741 shares in the last quarter. Townsquare Capital LLC grew its position in Texas Instruments by 5.9% in the third quarter. Townsquare Capital LLC now owns 93,689 shares of the semiconductor company’s stock valued at $19,353,000 after acquiring an additional 5,201 shares in the last quarter. Finally, Swiss National Bank grew its position in Texas Instruments by 0.3% in the third quarter. Swiss National Bank now owns 2,702,500 shares of the semiconductor company’s stock valued at $558,255,000 after acquiring an additional 8,100 shares in the last quarter. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Bank of America lowered their price objective on shares of Texas Instruments from $220.00 to $215.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Barclays decreased their price target on shares of Texas Instruments from $210.00 to $200.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Truist Financial decreased their price target on shares of Texas Instruments from $198.00 to $190.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of Texas Instruments in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company started coverage on shares of Texas Instruments in a research report on Friday, November 22nd. They set an “equal weight” rating and a $215.00 price target for the company. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $210.05.

Texas Instruments Price Performance

Shares of NASDAQ:TXN opened at $193.10 on Friday. The firm’s 50 day moving average is $203.60 and its two-hundred day moving average is $200.87. The firm has a market capitalization of $176.15 billion, a P/E ratio of 35.89, a PEG ratio of 4.30 and a beta of 0.97. The company has a current ratio of 4.31, a quick ratio of 3.14 and a debt-to-equity ratio of 0.74. Texas Instruments Incorporated has a 52 week low of $154.68 and a 52 week high of $220.38.

Texas Instruments (NASDAQ:TXN) last announced its earnings results on Tuesday, October 22nd. The semiconductor company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.09. Texas Instruments had a return on equity of 29.05% and a net margin of 31.60%. The firm had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the previous year, the business earned $1.80 EPS. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. Analysts anticipate that Texas Instruments Incorporated will post 5.08 earnings per share for the current year.

Texas Instruments Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st were given a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Thursday, October 31st. This is a positive change from Texas Instruments’s previous quarterly dividend of $1.30. Texas Instruments’s payout ratio is 101.12%.

Insiders Place Their Bets

In other news, Director Ronald Kirk sold 10,539 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $203.33, for a total value of $2,142,894.87. Following the completion of the sale, the director now owns 14,323 shares in the company, valued at $2,912,295.59. This represents a 42.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert E. Sanchez sold 9,990 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $208.80, for a total value of $2,085,912.00. Following the completion of the sale, the director now owns 20,461 shares of the company’s stock, valued at approximately $4,272,256.80. This trade represents a 32.81 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by 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.