Covenant Asset Management LLC Lowers Stake in Texas Instruments Incorporated (NASDAQ:TXN)

Covenant Asset Management LLC decreased its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 1.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,420 shares of the semiconductor company’s stock after selling 137 shares during the quarter. Covenant Asset Management LLC’s holdings in Texas Instruments were worth $1,739,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. KCM Investment Advisors LLC increased its stake in shares of Texas Instruments by 1.4% during the 3rd quarter. KCM Investment Advisors LLC now owns 3,574 shares of the semiconductor company’s stock valued at $738,000 after acquiring an additional 50 shares during the last quarter. Investment Advisory Services Inc. TX ADV increased its position in Texas Instruments by 1.6% during the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,145 shares of the semiconductor company’s stock worth $612,000 after purchasing an additional 51 shares during the last quarter. Lansing Street Advisors raised its stake in Texas Instruments by 4.7% during the third quarter. Lansing Street Advisors now owns 1,127 shares of the semiconductor company’s stock worth $233,000 after purchasing an additional 51 shares during the period. NorthCrest Asset Manangement LLC boosted its holdings in shares of Texas Instruments by 1.1% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 4,985 shares of the semiconductor company’s stock valued at $1,030,000 after purchasing an additional 52 shares during the last quarter. Finally, ABLE Financial Group LLC grew its stake in shares of Texas Instruments by 2.9% during the 3rd quarter. ABLE Financial Group LLC now owns 1,818 shares of the semiconductor company’s stock valued at $376,000 after buying an additional 52 shares during the period. Institutional investors and hedge funds own 84.99% of the company’s stock.

Insider Transactions at Texas Instruments

In other news, VP Mohammad Yunus sold 3,778 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $208.90, for a total transaction of $789,224.20. Following the completion of the transaction, the vice president now directly owns 28,894 shares of the company’s stock, valued at approximately $6,035,956.60. This represents a 11.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert E. Sanchez sold 9,990 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was 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 directly owns 20,461 shares in the company, 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. In the last quarter, insiders sold 14,968 shares of company stock worth $3,126,464. 0.68% of the stock is currently owned by corporate insiders.

Texas Instruments Stock Down 0.2 %

Shares of NASDAQ:TXN opened at $197.86 on Friday. The firm has a market cap of $180.49 billion, a PE ratio of 36.78, a price-to-earnings-growth ratio of 4.40 and a beta of 0.99. The company has a fifty day simple moving average of $204.49 and a 200 day simple moving average of $200.14. 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 12-month low of $151.27 and a 12-month high of $220.38.

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

Texas Instruments Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st were issued a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date was Thursday, October 31st. This is an increase from Texas Instruments’s previous quarterly dividend of $1.30. Texas Instruments’s dividend payout ratio (DPR) is currently 101.12%.

Wall Street Analyst Weigh In

TXN has been the topic of several research reports. Truist Financial cut their target price on Texas Instruments from $198.00 to $190.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. Bank of America reduced their price objective on Texas Instruments from $220.00 to $215.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Cantor Fitzgerald reissued a “neutral” rating and set a $200.00 target price on shares of Texas Instruments in a research report on Wednesday, October 23rd. Susquehanna reduced their price target on shares of Texas Instruments from $250.00 to $240.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Finally, Morgan Stanley increased their price objective on shares of Texas Instruments from $154.00 to $167.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $210.05.

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.