Davis Selected Advisers Acquires 80,945 Shares of Texas Instruments Incorporated (NASDAQ:TXN)

Key Points

• Davis Selected Advisers increased its stake in Texas Instruments by 3.4%, owning approximately 2,431,035 shares, which makes it the 15th largest position in their investment portfolio.
• Texas Instruments reported earnings of $1.41 per share, surpassing expectations, and experienced a revenue increase of 16.4% compared to the same quarter last year.
• The company announced a quarterly dividend of $1.36, representing a 2.9% yield, and has a dividend payout ratio of 99.63%.

Davis Selected Advisers grew its position in shares of Texas Instruments Incorporated (NASDAQ:TXN - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 2,431,035 shares of the semiconductor company's stock after purchasing an additional 80,945 shares during the quarter. Texas Instruments accounts for 2.5% of Davis Selected Advisers' portfolio, making the stock its 15th largest position. Davis Selected Advisers owned about 0.27% of Texas Instruments worth $436,857,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TXN. Vanguard Group Inc. boosted its position in Texas Instruments by 0.5% during the first quarter. Vanguard Group Inc. now owns 94,020,960 shares of the semiconductor company's stock valued at $16,895,567,000 after purchasing an additional 453,683 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Texas Instruments by 2.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 21,915,824 shares of the semiconductor company's stock valued at $3,938,274,000 after acquiring an additional 428,356 shares in the last quarter. Northern Trust Corp increased its stake 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 purchasing an additional 1,132,187 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Texas Instruments by 9.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,831,420 shares of the semiconductor company's stock worth $1,587,006,000 after purchasing an additional 745,119 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Texas Instruments by 3.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,062,604 shares of the semiconductor company's stock worth $1,511,819,000 after purchasing an additional 288,672 shares during the period. 84.99% of the stock is currently owned by institutional investors and hedge funds.

Texas Instruments Stock Performance

Shares of TXN traded up $1.31 during mid-day trading on Friday, reaching $187.22. The company's stock had a trading volume of 5,943,463 shares, compared to its average volume of 8,042,626. Texas Instruments Incorporated has a 1-year low of $139.95 and a 1-year high of $221.69. The stock has a market cap of $170.21 billion, a P/E ratio of 34.29, a PEG ratio of 3.06 and a beta of 1.03. The business has a 50-day simple moving average of $200.91 and a two-hundred day simple moving average of $184.99. The company has a current ratio of 5.81, a quick ratio of 3.88 and a debt-to-equity ratio of 0.86.

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

Texas Instruments Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Thursday, July 31st. Texas Instruments's dividend payout ratio (DPR) is 99.63%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TXN shares. Truist Financial upped their price objective on Texas Instruments from $171.00 to $196.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. UBS Group set a $255.00 price objective on Texas Instruments in a research note on Tuesday, July 22nd. Argus upgraded Texas Instruments to a "strong-buy" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. boosted their target price on Texas Instruments from $195.00 to $225.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Arete Research upgraded Texas Instruments to a "hold" rating in a report on Thursday, June 26th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Texas Instruments presently has a consensus rating of "Hold" and a consensus price target 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.