Kimelman & Baird LLC Acquires New Position in Texas Instruments Incorporated (NASDAQ:TXN)

Kimelman & Baird LLC acquired a new position in shares of Texas Instruments Incorporated (NASDAQ:TXN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,500 shares of the semiconductor company’s stock, valued at approximately $292,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TXN. Richardson Financial Services Inc. purchased a new stake in shares of Texas Instruments in the 4th quarter worth about $26,000. Scarborough Advisors LLC purchased a new stake in shares of Texas Instruments in the fourth quarter valued at about $26,000. Westend Capital Management LLC acquired a new stake in shares of Texas Instruments in the first quarter valued at approximately $31,000. Norwood Financial Corp purchased a new position in shares of Texas Instruments during the 1st quarter worth approximately $32,000. Finally, Fortis Group Advisors LLC raised its position in shares of Texas Instruments by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 196 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 98 shares during the last quarter. 84.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Benchmark reissued a “buy” rating and set a $230.00 price target on shares of Texas Instruments in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Texas Instruments from $160.00 to $185.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Robert W. Baird raised their price target on shares of Texas Instruments from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on shares of Texas Instruments from $195.00 to $230.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Barclays upped their price objective on shares of Texas Instruments from $190.00 to $210.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Texas Instruments currently has a consensus rating of “Hold” and an average target price of $204.67.

Insider Activity

In other news, CAO Julie C. Knecht sold 7,764 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $209.49, for a total value of $1,626,480.36. Following the completion of the transaction, the chief accounting officer now directly owns 11,806 shares in the company, valued at $2,473,238.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 value 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Shanon J. Leonard sold 2,816 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $208.91, for a total value of $588,290.56. Following the sale, the vice president now owns 24,112 shares of the company’s stock, valued at approximately $5,037,237.92. The disclosure for this sale can be found here. Insiders have sold 15,558 shares of company stock worth $3,255,323 over the last 90 days. Company insiders own 0.68% of the company’s stock.

Texas Instruments Price Performance

Texas Instruments stock opened at $206.57 on Tuesday. The firm has a fifty day moving average of $201.09 and a 200-day moving average of $191.50. Texas Instruments Incorporated has a 52-week low of $139.48 and a 52-week high of $214.66. The company has a quick ratio of 3.49, a current ratio of 4.62 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $188.08 billion, a P/E ratio of 32.23, a PEG ratio of 4.55 and a beta of 0.99.

Texas Instruments (NASDAQ:TXN) last released its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $1.22 EPS for the quarter, beating 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 company had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same period last year, the company posted $1.87 earnings per share. The firm’s revenue was down 15.6% compared to the same quarter last year. As a group, analysts predict that Texas Instruments Incorporated will post 5.11 EPS for the current year.

Texas Instruments Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st will be issued a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a yield of 2.63%. 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 dividend payout ratio is currently 84.87%.

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.