Kendall Capital Management Trims Stake in Texas Instruments Incorporated (NASDAQ:TXN)

Kendall Capital Management lowered its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 13.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,170 shares of the semiconductor company’s stock after selling 622 shares during the period. Kendall Capital Management’s holdings in Texas Instruments were worth $811,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Van ECK Associates Corp lifted its position in Texas Instruments by 54.3% during the first quarter. Van ECK Associates Corp now owns 5,606,825 shares of the semiconductor company’s stock valued at $976,765,000 after purchasing an additional 1,972,304 shares during the last quarter. Capital Research Global Investors grew its stake in 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 worth $5,002,522,000 after buying an additional 1,279,828 shares in the last quarter. Baillie Gifford & Co. grew its stake in Texas Instruments by 65.8% in the 1st quarter. Baillie Gifford & Co. now owns 2,977,032 shares of the semiconductor company’s stock worth $518,629,000 after buying an additional 1,181,841 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Texas Instruments by 35.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,083,589 shares of the semiconductor company’s stock worth $525,643,000 after buying an additional 809,805 shares in the last quarter. Finally, Capital International Investors grew its stake in Texas Instruments by 23.7% in the 4th quarter. Capital International Investors now owns 3,697,517 shares of the semiconductor company’s stock worth $630,335,000 after buying an additional 709,115 shares in the last quarter. Institutional investors own 84.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TXN shares. Morgan Stanley upped their price objective on Texas Instruments from $150.00 to $156.00 and gave the stock an “underweight” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. upped their target price on Texas Instruments from $195.00 to $230.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Susquehanna lifted their price target on shares of Texas Instruments from $205.00 to $250.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. KeyCorp upped their price objective on shares of Texas Instruments from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Robert W. Baird lifted their target price on shares of Texas Instruments from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $204.67.

Texas Instruments Stock Down 0.3 %

NASDAQ:TXN opened at $200.71 on Thursday. Texas Instruments Incorporated has a 1-year low of $139.48 and a 1-year high of $214.66. The company has a market capitalization of $183.26 billion, a PE ratio of 31.31, a P/E/G ratio of 4.31 and a beta of 0.99. The firm’s 50-day moving average price is $200.60 and its 200-day moving average price is $189.50. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.62 and a quick ratio of 3.49.

Texas Instruments (NASDAQ:TXN) last announced its earnings results on Tuesday, July 23rd. The semiconductor company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. The business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.82 billion. Texas Instruments had a net margin of 33.01% and a return on equity of 31.10%. The business’s revenue for the quarter was down 15.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.87 earnings per share. On average, equities analysts predict that Texas Instruments Incorporated will post 5.11 EPS for the current fiscal year.

Texas Instruments Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Wednesday, July 31st were paid a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $5.20 annualized dividend and a dividend yield of 2.59%. Texas Instruments’s dividend payout ratio is presently 81.12%.

Insider Activity

In related news, VP Shanon J. Leonard sold 2,816 shares of the business’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 completion of the transaction, the vice president now directly owns 24,112 shares in the company, valued at approximately $5,037,237.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Shanon J. Leonard sold 2,816 shares of the firm’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 owns 24,112 shares of the company’s stock, valued at approximately $5,037,237.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Haviv Ilan sold 1,200 shares of Texas Instruments stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $209.44, for a total transaction of $251,328.00. Following the completion of the sale, the chief executive officer now directly owns 158,676 shares of the company’s stock, valued at approximately $33,233,101.44. The disclosure for this sale can be found here. Insiders have sold a total of 15,558 shares of company stock worth $3,255,323 over the last 90 days. 0.68% of the stock is currently 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.