Texas Instruments Incorporated (NASDAQ:TXN) Shares Purchased by Carnegie Investment Counsel

Key Points

• Carnegie Investment Counsel increased its stake in Texas Instruments by 91.6%, owning 10,342 shares valued at approximately $1.725 million by the end of the first quarter.
• Texas Instruments reported earnings of $1.41 per share, surpassing estimates and reflecting a 16.4% year-over-year revenue growth to $4.45 billion.
• The company has announced a quarterly dividend of $1.36 per share, resulting in an annual yield of 2.94%.

Carnegie Investment Counsel grew its holdings in Texas Instruments Incorporated (NASDAQ:TXN - Free Report) by 91.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,342 shares of the semiconductor company's stock after acquiring an additional 4,943 shares during the quarter. Carnegie Investment Counsel's holdings in Texas Instruments were worth $1,725,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new position in Texas Instruments during the fourth quarter valued at approximately $27,000. Cloud Capital Management LLC purchased a new position in Texas Instruments during the 1st quarter valued at about $28,000. Copia Wealth Management purchased a new stake in shares of Texas Instruments during the 4th quarter worth $30,000. Quintet Private Bank Europe S.A. purchased a new stake in Texas Instruments during the first quarter worth approximately $34,000. Finally, Park Square Financial Group LLC acquired a new position in Texas Instruments during the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 84.99% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TXN. Truist Financial boosted their target price on Texas Instruments from $171.00 to $196.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Cowen reissued a "hold" rating on shares of Texas Instruments in a research note on Wednesday, June 25th. KeyCorp raised their target price on Texas Instruments from $215.00 to $240.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. The Goldman Sachs Group started coverage on Texas Instruments in a report on Thursday, July 10th. They issued a "buy" rating and a $255.00 price target for the company. Finally, TD Cowen decreased their price target on Texas Instruments from $245.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $212.21.

Texas Instruments Stock Performance

NASDAQ TXN traded up $2.31 during trading on Tuesday, reaching $191.56. The company's stock had a trading volume of 2,097,043 shares, compared to its average volume of 7,359,778. The firm has a market cap of $174.03 billion, a price-to-earnings ratio of 35.09, a P/E/G ratio of 3.03 and a beta of 1.03. The business's fifty day moving average price is $200.32 and its 200-day moving average price is $185.42. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.88 and a current ratio of 5.81. Texas Instruments Incorporated has a twelve month low of $139.95 and a twelve month high of $221.69.

Texas Instruments (NASDAQ:TXN - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The semiconductor company reported $1.41 earnings per share for the quarter, beating 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 business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the previous year, the business posted $1.17 earnings per share. The company's revenue was up 16.4% on a year-over-year basis. As a group, analysts anticipate that Texas Instruments Incorporated will post 5.35 EPS for the current fiscal year.

Texas Instruments Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 12th. Shareholders of record on Thursday, July 31st will be paid a dividend of $1.36 per share. The ex-dividend date is Thursday, July 31st. This represents a $5.44 dividend on an annualized basis and a yield of 2.84%. Texas Instruments's dividend payout ratio (DPR) 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.