Meyer Handelman Co. Trims Stake in Texas Instruments Incorporated (NASDAQ:TXN)

Meyer Handelman Co. lessened its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 2.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 154,813 shares of the semiconductor company’s stock after selling 4,700 shares during the period. Texas Instruments accounts for approximately 1.1% of Meyer Handelman Co.’s portfolio, making the stock its 27th largest holding. Meyer Handelman Co.’s holdings in Texas Instruments were worth $30,116,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Sandy Spring Bank increased its stake in Texas Instruments by 3.5% in the 4th quarter. Sandy Spring Bank now owns 1,934 shares of the semiconductor company’s stock worth $330,000 after purchasing an additional 66 shares during the period. Tennessee Valley Asset Management Partners purchased a new position in shares of Texas Instruments in the fourth quarter worth $25,000. Birch Hill Investment Advisors LLC bought a new stake in Texas Instruments during the 4th quarter valued at $210,000. ORG Partners LLC boosted its position in Texas Instruments by 3.9% during the 4th quarter. ORG Partners LLC now owns 1,968 shares of the semiconductor company’s stock valued at $336,000 after buying an additional 74 shares during the period. Finally, Crestwood Advisors Group LLC grew its holdings in Texas Instruments by 0.5% in the 4th quarter. Crestwood Advisors Group LLC now owns 37,113 shares of the semiconductor company’s stock worth $6,326,000 after acquiring an additional 172 shares during the last quarter. Institutional investors own 84.99% of the company’s stock.

Texas Instruments Stock Up 2.7 %

NASDAQ:TXN traded up $5.19 during trading hours on Tuesday, reaching $197.25. 4,968,201 shares of the company traded hands, compared to its average volume of 5,549,839. The company has a current ratio of 4.62, a quick ratio of 3.49 and a debt-to-equity ratio of 0.75. The business’s 50-day moving average price is $196.96 and its two-hundred day moving average price is $182.07. Texas Instruments Incorporated has a 1 year low of $139.48 and a 1 year high of $210.84. The stock has a market capitalization of $180.10 billion, a P/E ratio of 30.77, a P/E/G ratio of 4.18 and a beta of 0.99.

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

Texas Instruments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 13th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Wednesday, July 31st. Texas Instruments’s payout ratio is 81.12%.

Analyst Upgrades and Downgrades

TXN has been the subject of several recent analyst reports. Truist Financial upped their price objective on shares of Texas Instruments from $167.00 to $203.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. TD Cowen increased their price objective on Texas Instruments from $160.00 to $175.00 and gave the stock a “hold” rating in a report on Wednesday, April 24th. Stifel Nicolaus boosted their target price on Texas Instruments from $172.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Evercore ISI upped their target price on Texas Instruments from $213.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Texas Instruments from $195.00 to $230.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $198.64.

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.