AGF Management Ltd. Trims Holdings in Texas Instruments Incorporated (NASDAQ:TXN)

Key Points

• AGF Management Ltd. reduced its ownership in Texas Instruments by 14.5%, owning 48,076 shares after selling 8,132 shares during the first quarter.
• The semiconductor company reported $1.41 EPS for the latest quarter, exceeding the consensus estimate of $1.32, with a revenue of $4.45 billion.
• Texas Instruments announced a quarterly dividend of $1.36 per share, representing an annualized dividend of $5.44 and a yield of 3.0%.

AGF Management Ltd. lowered its holdings in Texas Instruments Incorporated (NASDAQ:TXN - Free Report) by 14.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,076 shares of the semiconductor company's stock after selling 8,132 shares during the quarter. AGF Management Ltd.'s holdings in Texas Instruments were worth $8,639,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Trust Asset Management LLC increased its stake in shares of Texas Instruments by 0.6% in the first quarter. Trust Asset Management LLC now owns 10,497 shares of the semiconductor company's stock worth $1,886,000 after acquiring an additional 61 shares during the period. Longfellow Investment Management Co. LLC grew its position in Texas Instruments by 65.5% during the first quarter. Longfellow Investment Management Co. LLC now owns 8,437 shares of the semiconductor company's stock valued at $1,516,000 after buying an additional 3,339 shares during the period. Ballast Inc. grew its position in Texas Instruments by 2.1% during the first quarter. Ballast Inc. now owns 7,694 shares of the semiconductor company's stock valued at $1,383,000 after buying an additional 157 shares during the period. Independent Advisor Alliance grew its position in Texas Instruments by 4.8% during the first quarter. Independent Advisor Alliance now owns 26,684 shares of the semiconductor company's stock valued at $4,795,000 after buying an additional 1,232 shares during the period. Finally, SouthState Corp grew its position in Texas Instruments by 19.1% during the first quarter. SouthState Corp now owns 4,953 shares of the semiconductor company's stock valued at $890,000 after buying an additional 793 shares during the period. Institutional investors and hedge funds own 84.99% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on TXN. Arete Research upgraded shares of Texas Instruments to a "hold" rating in a research report on Thursday, June 26th. Wells Fargo & Company dropped their price target on shares of Texas Instruments from $215.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 23rd. Cantor Fitzgerald restated a "neutral" rating on shares of Texas Instruments in a research report on Tuesday, July 22nd. Benchmark raised their price target on shares of Texas Instruments from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Morgan Stanley restated an "underweight" rating on shares of Texas Instruments in a research report on Tuesday, July 22nd. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $212.21.

Texas Instruments Trading Up 0.2%

TXN stock traded up $0.35 during trading on Wednesday, reaching $193.32. 4,965,163 shares of the stock were exchanged, compared to its average volume of 8,434,070. The company has a current ratio of 5.81, a quick ratio of 3.88 and a debt-to-equity ratio of 0.86. The business has a 50 day moving average price of $201.05 and a 200-day moving average price of $184.98. Texas Instruments Incorporated has a 1 year low of $139.95 and a 1 year high of $221.69. The firm has a market capitalization of $175.75 billion, a price-to-earnings ratio of 35.41, a P/E/G ratio of 3.15 and a beta of 1.03.

Texas Instruments (NASDAQ:TXN - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The semiconductor company reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.09. Texas Instruments had a net margin of 30.23% and a return on equity of 30.10%. The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the previous year, the firm earned $1.17 earnings per share. Texas Instruments's quarterly revenue was up 16.4% compared to the same quarter last year. On average, research analysts predict that Texas Instruments Incorporated will post 5.35 earnings per share for the current year.

Texas Instruments Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders of record on Thursday, July 31st were paid a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, July 31st. Texas Instruments's payout ratio is 99.63%.

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.