Beese Fulmer Investment Management Inc. reduced its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 0.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 34,391 shares of the semiconductor company’s stock after selling 140 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Texas Instruments were worth $3,947,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Cordasco Financial Network acquired a new stake in shares of Texas Instruments during the 1st quarter valued at about $27,000. CX Institutional grew its position in shares of Texas Instruments by 95.9% during the 1st quarter. CX Institutional now owns 286 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 140 shares during the period. Farmers National Bank acquired a new stake in shares of Texas Instruments during the 1st quarter valued at about $35,000. Icon Wealth Partners LLC acquired a new stake in shares of Texas Instruments during the 1st quarter valued at about $37,000. Finally, Global Wealth Management Investment Advisory Inc. grew its position in shares of Texas Instruments by 919.4% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 367 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 331 shares during the period. 85.45% of the stock is currently owned by institutional investors.
In related news, Chairman Richard K. Templeton sold 475,000 shares of Texas Instruments stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $117.38, for a total value of $55,755,500.00. Following the completion of the sale, the chairman now owns 930,287 shares in the company, valued at approximately $109,197,088.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bing Xie sold 20,000 shares of Texas Instruments stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $116.75, for a total transaction of $2,335,000.00. Following the completion of the sale, the insider now owns 53,934 shares of the company’s stock, valued at approximately $6,296,794.50. The disclosure for this sale can be found here. Insiders have sold a total of 879,332 shares of company stock valued at $103,024,864 in the last 90 days. Insiders own 0.89% of the company’s stock.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.09. The business had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.48 billion. Texas Instruments had a net margin of 34.84% and a return on equity of 55.48%. The business’s revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.35 EPS. On average, research analysts predict that Texas Instruments Incorporated will post 5.11 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.57%. Texas Instruments’s dividend payout ratio is currently 56.83%.
TXN has been the topic of a number of research reports. Sanford C. Bernstein lowered shares of Texas Instruments from an “outperform” rating to a “market perform” rating and set a $108.00 price target on the stock. in a research note on Monday, March 25th. Deutsche Bank raised their price target on shares of Texas Instruments from $100.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, April 24th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $157.00 price target on shares of Chubb in a research note on Tuesday, April 30th. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, UBS Group raised their price target on shares of W. R. Berkley from $53.00 to $56.00 and gave the company a “sell” rating in a research note on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $109.46.
Texas Instruments Company Profile
Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. It operates in two segments, Analog and Embedded Processing. The Analog segment offers power products to manage power requirements in various levels using battery management solutions, portable components, power supply controls, point-of-load products, switches and interfaces, integrated protection devices, high-voltage products, and mobile lighting and display products.
Recommended Story: What is the Russell 2000 Index?
Receive News & Ratings for Texas Instruments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Texas Instruments and related companies with MarketBeat.com's FREE daily email newsletter.