First Western Trust Bank Trims Holdings in Texas Instruments Incorporated (NASDAQ:TXN)

Key Points

• First Western Trust Bank has reduced its stake in Texas Instruments by 8.7%, selling 3,299 shares in the first quarter, leaving it with 34,514 shares valued at approximately $6.2 million.
• Texas Instruments announced a quarterly dividend of $1.36 per share, with a yield of 2.9%, to be paid on August 12th.
• The company reported earnings of $1.41 per share during its last quarterly earnings, surpassing the expected $1.32, with revenues reaching $4.45 billion.

First Western Trust Bank reduced its position in shares of Texas Instruments Incorporated (NASDAQ:TXN - Free Report) by 8.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,514 shares of the semiconductor company's stock after selling 3,299 shares during the quarter. Texas Instruments accounts for approximately 0.3% of First Western Trust Bank's holdings, making the stock its 24th biggest position. First Western Trust Bank's holdings in Texas Instruments were worth $6,202,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in TXN. GAMMA Investing LLC grew its position in shares of Texas Instruments by 21,778.6% during the first quarter. GAMMA Investing LLC now owns 3,422,027 shares of the semiconductor company's stock worth $614,938,000 after purchasing an additional 3,406,386 shares in the last quarter. Jennison Associates LLC grew its holdings in Texas Instruments by 2,898.0% during 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 in the last quarter. Rothschild & Co Wealth Management UK Ltd raised its position in shares of Texas Instruments by 1,000.6% during the first 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. Northern Trust Corp lifted its holdings in shares of Texas Instruments by 12.2% in the fourth quarter. Northern Trust Corp now owns 10,398,010 shares of the semiconductor company's stock worth $1,949,731,000 after buying an additional 1,132,187 shares in the last quarter. Finally, Capital International Investors lifted its holdings in shares of Texas Instruments by 26.3% in the fourth quarter. Capital International Investors now owns 5,194,675 shares of the semiconductor company's stock worth $974,054,000 after buying an additional 1,080,782 shares in the last quarter. 84.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TXN has been the topic of several recent research reports. Mizuho decreased their price objective on Texas Instruments from $205.00 to $200.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. The Goldman Sachs Group assumed coverage on Texas Instruments in a research report on Thursday, July 10th. They set a "buy" rating and a $255.00 target price on the stock. Susquehanna cut their target price on Texas Instruments from $250.00 to $240.00 and set a "positive" rating on the stock in a research report on Tuesday, July 22nd. TD Securities reissued a "hold" rating and set a $160.00 target price on shares of Texas Instruments in a research report on Thursday, April 24th. Finally, Cowen reissued a "hold" rating on shares of Texas Instruments in a research report on Wednesday, June 25th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, Texas Instruments has a consensus rating of "Hold" and an average price target of $212.21.

Texas Instruments Stock Performance

Shares of NASDAQ TXN traded down $3.51 during midday trading on Monday, reaching $183.71. 6,441,025 shares of the stock were exchanged, compared to its average volume of 8,070,119. 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 firm has a market cap of $167.02 billion, a price-to-earnings ratio of 34.29, a PEG ratio of 3.06 and a beta of 1.03. The firm has a 50-day simple moving average of $200.91 and a two-hundred day simple moving average of $184.88. 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 issued its quarterly earnings results on Tuesday, July 22nd. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.32 by $0.09. The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.17 earnings per share. As a group, analysts anticipate that Texas Instruments Incorporated will post 5.35 EPS 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 paid a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Thursday, July 31st. Texas Instruments's payout ratio is 99.63%.

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.