State of Michigan Retirement System Has $46.19 Million Stock Position in Texas Instruments Incorporated (NASDAQ:TXN)

State of Michigan Retirement System lifted its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 0.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 265,165 shares of the semiconductor company’s stock after acquiring an additional 500 shares during the period. State of Michigan Retirement System’s holdings in Texas Instruments were worth $46,194,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TXN. Norges Bank acquired a new stake in shares of Texas Instruments in the fourth quarter worth $1,649,592,000. Morgan Stanley lifted its position in Texas Instruments by 14.2% in the third quarter. Morgan Stanley now owns 14,154,358 shares of the semiconductor company’s stock worth $2,250,685,000 after purchasing an additional 1,755,582 shares during the period. California Public Employees Retirement System lifted its position in Texas Instruments by 33.2% in the fourth quarter. California Public Employees Retirement System now owns 6,035,704 shares of the semiconductor company’s stock worth $1,028,846,000 after purchasing an additional 1,502,989 shares during the period. Assenagon Asset Management S.A. lifted its position in Texas Instruments by 565.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,693,577 shares of the semiconductor company’s stock worth $288,687,000 after purchasing an additional 1,439,066 shares during the period. Finally, Baillie Gifford & Co. lifted its position in Texas Instruments by 338.4% in the fourth quarter. Baillie Gifford & Co. now owns 1,795,191 shares of the semiconductor company’s stock worth $306,008,000 after purchasing an additional 1,385,725 shares during the period. Institutional investors and hedge funds own 84.99% of the company’s stock.

Texas Instruments Stock Up 2.0 %

NASDAQ:TXN traded up $3.82 during trading hours on Tuesday, reaching $198.42. 4,167,840 shares of the stock were exchanged, compared to its average volume of 5,544,463. The stock has a market cap of $180.66 billion, a PE ratio of 31.03, a PEG ratio of 4.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.91 and a quick ratio of 3.76. Texas Instruments Incorporated has a twelve month low of $139.48 and a twelve month high of $206.00. The firm has a 50 day moving average of $190.89 and a 200 day moving average of $175.56.

Texas Instruments (NASDAQ:TXN) last released its quarterly earnings data on Tuesday, April 23rd. The semiconductor company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.07 by $0.13. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.61 billion. Texas Instruments had a return on equity of 35.28% and a net margin of 35.16%. The firm’s revenue for the quarter was down 16.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.85 EPS. On average, equities analysts expect that Texas Instruments Incorporated will post 5.13 earnings per share for the current year.

Texas Instruments Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 21st. Shareholders of record on Wednesday, May 8th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 2.62%. The ex-dividend date was Tuesday, May 7th. Texas Instruments’s dividend payout ratio is 81.12%.

Insider Buying and Selling at Texas Instruments

In other Texas Instruments news, Director Pamela H. Patsley sold 9,990 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $179.12, for a total transaction of $1,789,408.80. Following the transaction, the director now owns 33,348 shares in the company, valued at approximately $5,973,293.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Texas Instruments news, Chairman Richard K. Templeton sold 104,000 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $178.68, for a total transaction of $18,582,720.00. Following the transaction, the chairman now owns 403,851 shares in the company, valued at approximately $72,160,096.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Pamela H. Patsley sold 9,990 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $179.12, for a total value of $1,789,408.80. Following the transaction, the director now owns 33,348 shares in the company, valued at approximately $5,973,293.76. The disclosure for this sale can be found here. Insiders sold 328,969 shares of company stock valued at $58,427,984 in the last quarter. 0.68% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TXN. Benchmark raised their target price on Texas Instruments from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $210.00 target price on shares of Texas Instruments in a research report on Wednesday, April 24th. The Goldman Sachs Group lifted their price objective on Texas Instruments from $137.00 to $157.00 and gave the company a “sell” rating in a report on Wednesday, April 24th. Truist Financial lifted their price objective on Texas Instruments from $165.00 to $167.00 and gave the company a “hold” rating in a report on Wednesday, April 24th. Finally, Stifel Nicolaus lifted their price objective on Texas Instruments from $160.00 to $172.00 and gave the company a “hold” rating in a report on Wednesday, April 24th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $183.43.

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.