Empire Life Investments Inc. Sells 2,845 Shares of Texas Instruments Incorporated (NASDAQ:TXN)

Key Points

• Empire Life Investments Inc. reduced its holdings in Texas Instruments by 4.6%, owning 58,518 shares valued at approximately $10.52 million as of the latest SEC filing.
• Institutional investors now account for 84.99% of Texas Instruments' stock, with several firms increasing their stakes during the fourth quarter of last year.
• Texas Instruments announced a quarterly dividend of $1.36 per share, resulting in a dividend yield of 3.0% for the company.

Empire Life Investments Inc. reduced its stake in Texas Instruments Incorporated (NASDAQ:TXN - Free Report) by 4.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,518 shares of the semiconductor company's stock after selling 2,845 shares during the period. Empire Life Investments Inc.'s holdings in Texas Instruments were worth $10,516,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Cloud Capital Management LLC purchased a new position in Texas Instruments in the first quarter worth about $28,000. Copia Wealth Management purchased a new position in Texas Instruments in the fourth quarter worth about $30,000. Quintet Private Bank Europe S.A. purchased a new position in Texas Instruments in the first quarter worth about $34,000. Park Square Financial Group LLC purchased a new position in Texas Instruments in the fourth quarter worth about $41,000. Finally, N.E.W. Advisory Services LLC purchased a new position in Texas Instruments in the first quarter worth about $42,000. 84.99% of the stock is currently owned by institutional investors.

Texas Instruments Stock Performance

TXN remained flat at $185.91 during trading on Thursday. 6,560,410 shares of the company traded hands, compared to its average volume of 7,371,153. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.88 and a current ratio of 5.81. The company has a market cap of $169.02 billion, a P/E ratio of 34.05, a PEG ratio of 3.04 and a beta of 1.03. The stock has a 50-day moving average price of $200.77 and a 200-day moving average price of $185.18. Texas Instruments Incorporated has a 52 week low of $139.95 and a 52 week high of $221.69.

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

Texas Instruments Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 12th. Stockholders of record on Thursday, July 31st will be issued a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, July 31st. Texas Instruments's dividend payout ratio is 99.63%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TXN shares. Arete started coverage on shares of Texas Instruments in a report on Thursday, June 26th. They set a "neutral" rating and a $203.80 price objective for the company. Mizuho decreased their price objective on shares of Texas Instruments from $205.00 to $200.00 and set a "neutral" rating for the company in a report on Wednesday, July 23rd. Benchmark raised their price target on Texas Instruments from $200.00 to $220.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. BNP Paribas raised Texas Instruments to a "strong sell" rating in a report on Wednesday, July 23rd. Finally, UBS Group set a $255.00 target price on Texas Instruments in a report on Tuesday, July 22nd. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $212.21.

About Texas Instruments

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.