Fayez Sarofim & Co Reduces Stake in Texas Instruments Incorporated (NASDAQ:TXN)

Key Points

• Fayez Sarofim & Co sold 22,215 shares of Texas Instruments (NASDAQ:TXN), reducing its holdings by 0.5% to approximately 4.67 million shares, making it the fund's 13th largest investment.
• In the latest earnings report, Texas Instruments reported $1.41 earnings per share, surpassing analysts' estimates of $1.32, with revenue increasing by 16.4% year-over-year.
• The company recently declared a quarterly dividend of $1.36 per share, representing an annualized yield of 2.9%, with a payout ratio of 99.63%.

Fayez Sarofim & Co lessened its stake in Texas Instruments Incorporated (NASDAQ:TXN - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,671,052 shares of the semiconductor company's stock after selling 22,215 shares during the quarter. Texas Instruments accounts for approximately 2.1% of Fayez Sarofim & Co's holdings, making the stock its 13th biggest position. Fayez Sarofim & Co owned approximately 0.51% of Texas Instruments worth $846,362,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Kestra Private Wealth Services LLC grew its stake in shares of Texas Instruments by 10.9% during the 1st quarter. Kestra Private Wealth Services LLC now owns 63,786 shares of the semiconductor company's stock valued at $11,462,000 after purchasing an additional 6,267 shares during the period. Gries Financial LLC bought a new stake in shares of Texas Instruments during the 1st quarter valued at about $243,000. Brighton Jones LLC grew its stake in shares of Texas Instruments by 33.4% during the 4th quarter. Brighton Jones LLC now owns 16,840 shares of the semiconductor company's stock valued at $3,158,000 after purchasing an additional 4,218 shares during the period. JARISLOWSKY FRASER Ltd grew its stake in shares of Texas Instruments by 7.4% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 2,390 shares of the semiconductor company's stock valued at $448,000 after purchasing an additional 165 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Texas Instruments by 2.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 495,548 shares of the semiconductor company's stock valued at $89,050,000 after purchasing an additional 11,057 shares during the period. Hedge funds and other institutional investors own 84.99% of the company's stock.

Texas Instruments Stock Performance

Shares of NASDAQ:TXN traded down $2.34 during trading on Monday, hitting $184.88. The stock had a trading volume of 2,571,816 shares, compared to its average volume of 7,328,263. Texas Instruments Incorporated has a 12-month low of $139.95 and a 12-month high of $221.69. The stock has a market capitalization of $168.08 billion, a price-to-earnings ratio of 33.89, a price-to-earnings-growth ratio of 3.06 and a beta of 1.03. The company has a quick ratio of 3.88, a current ratio of 5.81 and a debt-to-equity ratio of 0.86. The stock has a 50-day simple moving average of $200.91 and a two-hundred day simple moving average of $184.88.

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

Texas Instruments Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 12th. Shareholders of record on Thursday, July 31st will be given a $1.36 dividend. The ex-dividend date is Thursday, July 31st. This represents a $5.44 dividend on an annualized basis and a yield of 2.9%. Texas Instruments's payout ratio is currently 99.63%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TXN. Sanford C. Bernstein raised Texas Instruments from a "strong sell" rating to a "hold" rating in a report on Thursday, June 5th. JPMorgan Chase & Co. boosted their target price on Texas Instruments from $195.00 to $225.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Mizuho cut their target price on Texas Instruments from $205.00 to $200.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 23rd. KeyCorp upped their price objective on Texas Instruments from $215.00 to $240.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Texas Instruments in a research report on Tuesday, July 22nd. 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 company. According to MarketBeat, Texas Instruments currently has an average rating of "Hold" and a consensus target price of $212.21.

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.