B. Riley Wealth Advisors Inc. bought a new stake in Texas Instruments Incorporated (NASDAQ:TXN – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,398 shares of the semiconductor company’s stock, valued at approximately $3,197,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Slocum Gordon & Co LLP lifted its stake in Texas Instruments by 70.1% during the 2nd quarter. Slocum Gordon & Co LLP now owns 728 shares of the semiconductor company’s stock valued at $151,000 after acquiring an additional 300 shares in the last quarter. Marex Group plc purchased a new stake in shares of Texas Instruments in the second quarter valued at about $674,000. Advisory Services Network LLC raised its holdings in shares of Texas Instruments by 26.1% in the second quarter. Advisory Services Network LLC now owns 16,334 shares of the semiconductor company’s stock valued at $3,391,000 after purchasing an additional 3,384 shares during the last quarter. Delos Wealth Advisors LLC bought a new position in shares of Texas Instruments during the second quarter valued at about $61,000. Finally, Hohimer Wealth Management LLC purchased a new position in Texas Instruments during the second quarter worth about $204,000. 84.99% of the stock is owned by hedge funds and other institutional investors.
Texas Instruments Trading Down 1.2%
Shares of Texas Instruments stock opened at $179.42 on Friday. The company’s 50-day moving average price is $169.32 and its 200-day moving average price is $186.41. The company has a market cap of $163.02 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 3.18 and a beta of 1.01. Texas Instruments Incorporated has a 12-month low of $139.95 and a 12-month high of $221.69. The company has a current ratio of 4.45, a quick ratio of 2.90 and a debt-to-equity ratio of 0.81.
Texas Instruments Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Friday, October 31st were paid a dividend of $1.42 per share. This is a positive change from Texas Instruments’s previous quarterly dividend of $1.36. This represents a $5.68 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, October 31st. Texas Instruments’s dividend payout ratio is 103.84%.
Insider Activity
In other news, VP Christine Witzsche sold 1,000 shares of Texas Instruments stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $164.31, for a total transaction of $164,310.00. Following the completion of the sale, the vice president owned 20,821 shares in the company, valued at approximately $3,421,098.51. This trade represents a 4.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ronald Kirk sold 9,990 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $162.33, for a total transaction of $1,621,676.70. Following the completion of the transaction, the director owned 14,937 shares in the company, valued at approximately $2,424,723.21. This trade represents a 40.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.57% of the stock is owned by insiders.
Wall Street Analyst Weigh In
TXN has been the subject of several analyst reports. Robert W. Baird set a $195.00 price objective on shares of Texas Instruments and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Citigroup decreased their price target on Texas Instruments from $260.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. Rosenblatt Securities cut their price objective on Texas Instruments from $245.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, October 22nd. Wells Fargo & Company reduced their price objective on Texas Instruments from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 22nd. Finally, The Goldman Sachs Group lowered their target price on Texas Instruments from $230.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have assigned a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $191.67.
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.
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