Nuveen LLC Makes New $711.39 Million Investment in Texas Instruments Incorporated (NASDAQ:TXN)

Key Points

• Nuveen LLC acquired a significant stake in Texas Instruments, purchasing approximately 3.96 million shares valued at around $711.4 million during the first quarter.
• Texas Instruments reported a strong quarterly earnings performance, with a net revenue of $4.45 billion, surpassing expectations and marking a 16.4% increase year-over-year.
• The company announced a quarterly dividend of $1.36 per share, which reflects an annualized dividend yield of 2.9% and a high payout ratio of approximately 99.63%.

Nuveen LLC purchased a new position in Texas Instruments Incorporated (NASDAQ:TXN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,958,749 shares of the semiconductor company's stock, valued at approximately $711,387,000. Nuveen LLC owned approximately 0.44% of Texas Instruments as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TXN. Brighton Jones LLC boosted its stake in shares of Texas Instruments by 33.4% in the fourth quarter. Brighton Jones LLC now owns 16,840 shares of the semiconductor company's stock worth $3,158,000 after acquiring an additional 4,218 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in shares of Texas Instruments by 14.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 138,350 shares of the semiconductor company's stock worth $25,942,000 after acquiring an additional 17,840 shares during the period. Federated Hermes Inc. boosted its stake in shares of Texas Instruments by 1.2% in the fourth quarter. Federated Hermes Inc. now owns 19,667 shares of the semiconductor company's stock worth $3,688,000 after acquiring an additional 239 shares during the period. Renaissance Technologies LLC bought a new position in shares of Texas Instruments in the fourth quarter worth about $12,019,000. Finally, Scotia Capital Inc. boosted its stake in shares of Texas Instruments by 67.7% in the fourth quarter. Scotia Capital Inc. now owns 31,430 shares of the semiconductor company's stock worth $5,894,000 after acquiring an additional 12,683 shares during the period. Hedge funds and other institutional investors own 84.99% of the company's stock.

Texas Instruments Trading Down 1.9%

Shares of NASDAQ TXN traded down $3.51 during midday trading on Monday, hitting $183.71. The company's stock had a trading volume of 6,441,025 shares, compared to its average volume of 8,070,119. The company has a current ratio of 5.81, a quick ratio of 3.88 and a debt-to-equity ratio of 0.86. The business's 50 day moving average is $200.90 and its two-hundred day moving average is $184.87. Texas Instruments Incorporated has a 12-month low of $139.95 and a 12-month high of $221.69. The firm has a market cap of $167.02 billion, a P/E ratio of 33.65, a price-to-earnings-growth ratio of 3.06 and a beta of 1.03.

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 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 the consensus estimate of $4.31 billion. During the same period in the prior year, the business posted $1.17 earnings per share. The company's revenue for the quarter was up 16.4% on a year-over-year basis. As a group, equities research analysts expect that Texas Instruments Incorporated will post 5.35 EPS for the current year.

Texas Instruments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 12th. Stockholders of record on Thursday, July 31st will be issued a $1.36 dividend. This represents a $5.44 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Thursday, July 31st. Texas Instruments's dividend payout ratio is presently 99.63%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Summit Insights lowered Texas Instruments from a "buy" rating to a "hold" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. increased their price target on Texas Instruments from $195.00 to $225.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. The Goldman Sachs Group assumed coverage on Texas Instruments in a research note on Thursday, July 10th. They set a "buy" rating and a $255.00 price target for the company. Wolfe Research raised Texas Instruments from a "peer perform" rating to an "outperform" rating and set a $230.00 price target for the company in a research note on Monday, July 28th. Finally, Benchmark increased their price target on Texas Instruments from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target 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.