Covea Finance Acquires 9,500 Shares of Texas Instruments Incorporated (NASDAQ:TXN)

Covea Finance grew its position in Texas Instruments Incorporated (NASDAQ:TXN) by 19.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,950 shares of the semiconductor company’s stock after buying an additional 9,500 shares during the period. Covea Finance’s holdings in Texas Instruments were worth $11,971,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TXN. Van ECK Associates Corp boosted its holdings in shares of Texas Instruments by 54.3% in the 1st quarter. Van ECK Associates Corp now owns 5,606,825 shares of the semiconductor company’s stock valued at $976,765,000 after buying an additional 1,972,304 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Texas Instruments by 4.7% in the 1st quarter. Capital Research Global Investors now owns 28,715,467 shares of the semiconductor company’s stock valued at $5,002,522,000 after buying an additional 1,279,828 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Texas Instruments by 65.8% in the 1st quarter. Baillie Gifford & Co. now owns 2,977,032 shares of the semiconductor company’s stock valued at $518,629,000 after buying an additional 1,181,841 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Texas Instruments by 454.5% in the 2nd 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 purchasing an additional 1,029,741 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Texas Instruments by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 90,572,576 shares of the semiconductor company’s stock valued at $15,778,648,000 after purchasing an additional 536,206 shares during the last quarter. 84.99% of the stock is currently owned by institutional investors.

Texas Instruments Price Performance

Texas Instruments stock traded up $2.64 during trading on Friday, reaching $205.11. The company had a trading volume of 2,815,781 shares, compared to its average volume of 5,472,786. The firm’s 50-day simple moving average is $201.93 and its 200 day simple moving average is $193.23. Texas Instruments Incorporated has a 1-year low of $139.48 and a 1-year high of $214.66. The firm has a market capitalization of $187.28 billion, a PE ratio of 35.61, a price-to-earnings-growth ratio of 4.46 and a beta of 0.98. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.49 and a current ratio of 4.62.

Texas Instruments (NASDAQ:TXN) last announced its 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 net margin of 33.01% and a return on equity of 31.10%. The company had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the previous year, the company posted $1.87 EPS. The firm’s quarterly revenue was down 15.6% on a year-over-year basis. As a group, equities research analysts anticipate that Texas Instruments Incorporated will post 5.11 earnings per share for the current fiscal year.

Texas Instruments Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st will be paid a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a yield of 2.65%. The ex-dividend date is Thursday, October 31st. This is a boost from Texas Instruments’s previous quarterly dividend of $1.30. Texas Instruments’s payout ratio is 90.28%.

Wall Street Analyst Weigh In

Several brokerages recently commented on TXN. Truist Financial decreased their price objective on shares of Texas Instruments from $203.00 to $198.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Stifel Nicolaus increased their price objective on shares of Texas Instruments from $172.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Citigroup raised shares of Texas Instruments from a “neutral” rating to a “buy” rating and increased their price objective for the company from $200.00 to $235.00 in a research report on Wednesday, August 21st. Susquehanna raised their price target on shares of Texas Instruments from $205.00 to $250.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Finally, Barclays raised their price target on shares of Texas Instruments from $190.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $205.65.

Insiders Place Their Bets

In other news, CAO Julie C. Knecht sold 7,764 shares of Texas Instruments stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $209.49, for a total transaction 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Texas Instruments news, VP Shanon J. Leonard sold 2,816 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $208.91, for a total transaction of $588,290.56. Following the sale, the vice president now directly owns 24,112 shares in the company, valued at $5,037,237.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Julie C. Knecht sold 7,764 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $209.49, for a total transaction of $1,626,480.36. Following the sale, the chief accounting officer now owns 11,806 shares in the company, valued at $2,473,238.94. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,558 shares of company stock valued at $3,255,323 in the last 90 days. 0.68% of the stock is owned by insiders.

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.