Skandinaviska Enskilda Banken AB publ Lowers Stock Holdings in Texas Instruments Incorporated (NASDAQ:TXN)

Key Points

• Skandinaviska Enskilda Banken AB has reduced its holdings in Texas Instruments by 56.1%, owning 243,638 shares after selling 311,265 shares, valued at approximately $43.8 million.
• Texas Instruments reported earnings of $1.41 per share, surpassing the consensus estimate of $1.32, with revenues of $4.45 billion for the latest quarter.
• The company announced a quarterly dividend of $1.36 per share, resulting in an annualized dividend of $5.44 and a dividend yield of 2.93%.

Skandinaviska Enskilda Banken AB publ trimmed its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN - Free Report) by 56.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 243,638 shares of the semiconductor company's stock after selling 311,265 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Texas Instruments were worth $43,805,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Summit Securities Group LLC bought a new stake in shares of Texas Instruments in the fourth quarter valued at about $27,000. Cloud Capital Management LLC purchased a new stake in shares of Texas Instruments during the first quarter worth about $28,000. Copia Wealth Management acquired a new stake in shares of Texas Instruments during the fourth quarter worth about $30,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of Texas Instruments during the first quarter worth about $34,000. Finally, Park Square Financial Group LLC acquired a new stake in shares of Texas Instruments during the fourth quarter worth about $41,000. 84.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Rosenblatt Securities reissued a "buy" rating and issued a $245.00 price target on shares of Texas Instruments in a report on Wednesday, July 23rd. Cowen reissued a "hold" rating on shares of Texas Instruments in a research note on Wednesday, June 25th. Wells Fargo & Company dropped their target price on Texas Instruments from $215.00 to $195.00 and set an "equal weight" rating for the company in a report on Wednesday, July 23rd. Susquehanna dropped their target price on Texas Instruments from $250.00 to $240.00 and set a "positive" rating for the company in a report on Tuesday, July 22nd. Finally, Sanford C. Bernstein upgraded Texas Instruments from a "strong sell" rating to a "hold" rating in a report on Thursday, June 5th. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Texas Instruments currently has a consensus rating of "Hold" and a consensus target price of $212.21.

Texas Instruments Stock Up 1.3%

TXN stock traded up $2.49 during mid-day trading on Tuesday, reaching $191.74. The company had a trading volume of 2,954,821 shares, compared to its average volume of 7,366,689. 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 capitalization of $174.19 billion, a price-to-earnings ratio of 35.18, a price-to-earnings-growth ratio of 3.03 and a beta of 1.03. The firm has a fifty day simple moving average of $200.32 and a 200 day simple moving average of $185.42. Texas Instruments Incorporated has a fifty-two week low of $139.95 and a fifty-two 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 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 business had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter last year, the company earned $1.17 EPS. The business's quarterly revenue was up 16.4% on a year-over-year basis. Analysts forecast that Texas Instruments Incorporated will post 5.35 earnings per share for the current fiscal year.

Texas Instruments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 12th. Investors of record on Thursday, July 31st will be paid a dividend of $1.36 per share. 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 2.84%. Texas Instruments's dividend payout ratio is presently 99.63%.

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.