Covington Investment Advisors Inc. Has $11.41 Million Stock Holdings in Texas Instruments Incorporated (NASDAQ:TXN)

Key Points

• Covington Investment Advisors Inc. increased its stake in Texas Instruments by 2.7%, acquiring an additional 1,666 shares, bringing its total holdings to 63,499 shares, valued at approximately $11.41 million.
• Texas Instruments reported $1.41 earnings per share (EPS) for the last quarter, exceeding analysts' expectations and showing a 16.4% year-over-year revenue growth.
• The company recently declared a quarterly dividend of $1.36 per share, with a yield of 2.9% and a payout ratio of 99.63%.

Covington Investment Advisors Inc. lifted its position in shares of Texas Instruments Incorporated (NASDAQ:TXN - Free Report) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,499 shares of the semiconductor company's stock after purchasing an additional 1,666 shares during the quarter. Texas Instruments accounts for 1.8% of Covington Investment Advisors Inc.'s portfolio, making the stock its 21st largest position. Covington Investment Advisors Inc.'s holdings in Texas Instruments were worth $11,411,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TXN. GAMMA Investing LLC lifted its position in Texas Instruments by 21,778.6% in the 1st quarter. GAMMA Investing LLC now owns 3,422,027 shares of the semiconductor company's stock valued at $614,938,000 after acquiring an additional 3,406,386 shares in the last quarter. Jennison Associates LLC increased its stake in Texas Instruments by 2,898.0% in the 1st quarter. Jennison Associates LLC now owns 2,214,471 shares of the semiconductor company's stock valued at $397,940,000 after buying an additional 2,140,605 shares during the last quarter. Invesco Ltd. increased its stake in Texas Instruments by 14.6% in the 1st quarter. Invesco Ltd. now owns 13,624,568 shares of the semiconductor company's stock valued at $2,448,335,000 after buying an additional 1,731,411 shares during the last quarter. Rothschild & Co Wealth Management UK Ltd increased its stake in Texas Instruments by 1,000.6% in the 1st quarter. Rothschild & Co Wealth Management UK Ltd now owns 1,287,734 shares of the semiconductor company's stock valued at $231,406,000 after buying an additional 1,170,728 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Texas Instruments by 12.2% in the 4th quarter. Northern Trust Corp now owns 10,398,010 shares of the semiconductor company's stock valued at $1,949,731,000 after buying an additional 1,132,187 shares during the last quarter. 84.99% of the stock is owned by institutional investors.

Texas Instruments Stock Performance

TXN traded down $3.51 on Monday, reaching $183.71. The company had a trading volume of 6,441,025 shares, compared to its average volume of 8,070,119. Texas Instruments Incorporated has a fifty-two week low of $139.95 and a fifty-two week high of $221.69. The stock has a market cap of $167.02 billion, a P/E ratio of 33.65, a P/E/G ratio of 3.06 and a beta of 1.03. The company's fifty day moving average is $200.90 and its 200 day moving average is $184.87. 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 (NASDAQ:TXN - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.32 by $0.09. The firm had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.31 billion. Texas Instruments had a net margin of 30.23% and a return on equity of 30.10%. The business's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.17 EPS. As a group, analysts predict 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 will be paid on Tuesday, August 12th. Shareholders of record on Thursday, July 31st will be issued a $1.36 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $5.44 dividend on an annualized basis and a yield of 3.0%. Texas Instruments's payout ratio is currently 99.63%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TXN. Citigroup reiterated a "buy" rating on shares of Texas Instruments in a research note on Tuesday, July 22nd. Arete began coverage on shares of Texas Instruments in a research note on Thursday, June 26th. They issued a "neutral" rating and a $203.80 price target on the stock. Seaport Res Ptn upgraded shares of Texas Instruments from a "strong sell" rating to a "hold" rating in a research note on Monday, July 21st. Truist Financial lifted their price target on shares of Texas Instruments from $171.00 to $196.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. Finally, BNP Paribas upgraded shares of Texas Instruments to a "strong sell" rating in a research note on Wednesday, July 23rd. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Texas Instruments presently has an average rating of "Hold" and a consensus price target of $212.21.

Texas Instruments 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.