Bank of New York Mellon Corp reduced its position in shares of Texas Instruments Incorporated (NASDAQ:TXN - Free Report) by 3.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,642,374 shares of the semiconductor company's stock after selling 418,280 shares during the period. Bank of New York Mellon Corp owned about 1.28% of Texas Instruments worth $2,092,135,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Texas Instruments by 33.4% during the 4th quarter. Brighton Jones LLC now owns 16,840 shares of the semiconductor company's stock worth $3,158,000 after buying an additional 4,218 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of Texas Instruments by 14.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 138,350 shares of the semiconductor company's stock worth $25,942,000 after acquiring an additional 17,840 shares during the last quarter. Proficio Capital Partners LLC lifted its position in shares of Texas Instruments by 69.0% during the fourth quarter. Proficio Capital Partners LLC now owns 3,834 shares of the semiconductor company's stock worth $719,000 after purchasing an additional 1,566 shares in the last quarter. Promus Capital LLC acquired a new position in shares of Texas Instruments during the fourth quarter worth approximately $25,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Texas Instruments during the fourth quarter valued at approximately $295,665,000. 84.99% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on TXN. Cantor Fitzgerald cut their price target on Texas Instruments from $200.00 to $170.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus cut their target price on shares of Texas Instruments from $200.00 to $160.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. KeyCorp lowered their price target on shares of Texas Instruments from $250.00 to $215.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Morgan Stanley reissued an "underweight" rating and set a $148.00 price target (up from $146.00) on shares of Texas Instruments in a research note on Thursday, April 24th. Finally, DZ Bank raised shares of Texas Instruments from a "sell" rating to a "hold" rating and set a $163.00 price objective on the stock in a research note on Friday, April 25th. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $191.49.
Check Out Our Latest Report on Texas Instruments
Texas Instruments Stock Down 0.0%
NASDAQ TXN traded down $0.03 on Friday, reaching $215.57. The company had a trading volume of 2,561,140 shares, compared to its average volume of 6,442,888. The company's fifty day moving average is $188.48 and its 200-day moving average is $183.29. The firm has a market capitalization of $195.83 billion, a price-to-earnings ratio of 40.90, a price-to-earnings-growth ratio of 3.52 and a beta of 1.03. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.37 and a current ratio of 5.26. Texas Instruments Incorporated has a 1-year low of $139.95 and a 1-year high of $220.39.
Texas Instruments (NASDAQ:TXN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.22. Texas Instruments had a return on equity of 28.75% and a net margin of 30.36%. The company had revenue of $4.07 billion during the quarter, compared to analysts' expectations of $3.91 billion. During the same period in the prior year, the firm earned $1.10 earnings per share. Texas Instruments's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts forecast that Texas Instruments Incorporated will post 5.35 earnings per share for the current fiscal year.
Texas Instruments Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Wednesday, April 30th were issued a $1.36 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.52%. Texas Instruments's dividend payout ratio (DPR) is presently 103.23%.
About Texas Instruments
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Free Report)
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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