Hartford Investment Management Co. Increases Stake in Texas Instruments Incorporated (NASDAQ:TXN)

Hartford Investment Management Co. grew its position in Texas Instruments Incorporated (NASDAQ:TXN) by 0.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 193,524 shares of the semiconductor company’s stock after purchasing an additional 1,731 shares during the period. Hartford Investment Management Co.’s holdings in Texas Instruments were worth $22,209,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Mount Vernon Associates Inc. MD raised its stake in shares of Texas Instruments by 86.8% in the second quarter. Mount Vernon Associates Inc. MD now owns 25,710 shares of the semiconductor company’s stock valued at $2,950,000 after acquiring an additional 11,950 shares during the period. Baltimore Washington Financial Advisors Inc. raised its stake in shares of Texas Instruments by 0.5% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 135,100 shares of the semiconductor company’s stock valued at $15,504,000 after acquiring an additional 636 shares during the period. Squar Milner Financial Services LLC raised its stake in shares of Texas Instruments by 1,938.8% in the second quarter. Squar Milner Financial Services LLC now owns 999 shares of the semiconductor company’s stock valued at $115,000 after acquiring an additional 950 shares during the period. Brookstone Capital Management raised its stake in shares of Texas Instruments by 7.7% in the second quarter. Brookstone Capital Management now owns 3,323 shares of the semiconductor company’s stock valued at $381,000 after acquiring an additional 238 shares during the period. Finally, Manning & Napier Group LLC raised its stake in shares of Texas Instruments by 1.5% in the second quarter. Manning & Napier Group LLC now owns 259,385 shares of the semiconductor company’s stock valued at $29,765,000 after acquiring an additional 3,950 shares during the period. 85.51% of the stock is currently owned by institutional investors and hedge funds.

In other news, SVP Bing Xie sold 52,299 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $127.75, for a total value of $6,681,197.25. Following the sale, the senior vice president now directly owns 106,264 shares in the company, valued at approximately $13,575,226. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP R Gregory Delagi sold 150,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $127.28, for a total transaction of $19,092,000.00. Following the completion of the sale, the vice president now owns 243,755 shares in the company, valued at $31,025,136.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,052,507 shares of company stock worth $134,609,837. 0.89% of the stock is owned by company insiders.

A number of research analysts have recently commented on the stock. Wells Fargo & Co cut their price target on shares of Texas Instruments from $63.00 to $58.00 and set a “market perform” rating on the stock in a report on Tuesday, April 30th. Jefferies Financial Group upped their price target on shares of Texas Instruments from $137.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Bank of America restated a “neutral” rating and issued a $122.00 price target (up from $114.00) on shares of Texas Instruments in a report on Wednesday, April 24th. Loop Capital upped their price target on shares of Texas Instruments to $140.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Zacks Investment Research upgraded shares of Texas Instruments from a “sell” rating to a “hold” rating and set a $135.00 price target on the stock in a report on Saturday, July 27th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $118.74.

Shares of Texas Instruments stock opened at $118.40 on Monday. The company has a current ratio of 3.01, a quick ratio of 2.22 and a debt-to-equity ratio of 0.54. Texas Instruments Incorporated has a 1 year low of $87.70 and a 1 year high of $130.37. The business’s 50-day simple moving average is $117.39. The company has a market cap of $113.73 billion, a PE ratio of 21.84, a price-to-earnings-growth ratio of 2.30 and a beta of 1.25.

Texas Instruments (NASDAQ:TXN) last issued its earnings results on Tuesday, July 23rd. The semiconductor company reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.08. Texas Instruments had a net margin of 34.98% and a return on equity of 57.25%. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.60 billion. During the same period in the prior year, the business earned $1.37 EPS. The firm’s quarterly revenue was down 8.7% on a year-over-year basis. Research analysts predict that Texas Instruments Incorporated will post 5.23 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Wednesday, July 31st will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Tuesday, July 30th. Texas Instruments’s payout ratio is 56.83%.

About Texas Instruments

Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. It operates in two segments, Analog and Embedded Processing. The Analog segment offers power products to manage power requirements in various levels using battery management solutions, portable components, power supply controls, point-of-load products, switches and interfaces, integrated protection devices, high-voltage products, and mobile lighting and display products.

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Institutional Ownership by Quarter for Texas Instruments (NASDAQ:TXN)

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