Cary Street Partners Financial LLC Reduces Position in Texas Instruments Incorporated (NASDAQ:TXN)

Key Points

• Cary Street Partners Financial LLC reduced its stake in Texas Instruments by 3.0%, owning 82,079 shares valued at approximately $14.75 million after selling 2,533 shares.
• Texas Instruments reported $1.41 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $1.32, with revenue of $4.45 billion, reflecting a year-over-year increase of 16.4%.
• The company declared a quarterly dividend of $1.36 per share, with a dividend yield of 3.0% and a high payout ratio of 99.63%.

Cary Street Partners Financial LLC cut its holdings in Texas Instruments Incorporated (NASDAQ:TXN - Free Report) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 82,079 shares of the semiconductor company's stock after selling 2,533 shares during the period. Cary Street Partners Financial LLC's holdings in Texas Instruments were worth $14,750,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its position in shares of Texas Instruments by 15.4% in the 4th quarter. Invesco Ltd. now owns 11,893,157 shares of the semiconductor company's stock worth $2,230,086,000 after purchasing an additional 1,587,036 shares in the last quarter. Northern Trust Corp boosted its holdings in Texas Instruments by 12.2% during the 4th quarter. Northern Trust Corp now owns 10,398,010 shares of the semiconductor company's stock valued at $1,949,731,000 after acquiring an additional 1,132,187 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Texas Instruments by 3.7% in the 4th 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 valued at $1,511,819,000 after purchasing an additional 288,672 shares during the last quarter. Capital International Investors boosted its stake in Texas Instruments by 26.3% in the fourth quarter. Capital International Investors now owns 5,194,675 shares of the semiconductor company's stock valued at $974,054,000 after acquiring an additional 1,080,782 shares in the last quarter. Finally, Fayez Sarofim & Co boosted its stake in Texas Instruments by 3.7% during the 4th quarter. Fayez Sarofim & Co now owns 4,693,267 shares of the semiconductor company's stock worth $887,343,000 after purchasing an additional 168,936 shares during the period. 84.99% of the stock is owned by hedge funds and other institutional investors.

Texas Instruments Price Performance

Shares of TXN stock remained flat at $185.91 during mid-day trading on Thursday. 6,560,410 shares of the stock were exchanged, compared to its average volume of 7,913,009. 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 firm's 50 day simple moving average is $200.78 and its 200-day simple moving average is $185.13. Texas Instruments Incorporated has a 1 year low of $139.95 and a 1 year high of $221.69. The firm has a market cap of $169.02 billion, a P/E ratio of 34.05, a P/E/G ratio of 3.03 and a beta of 1.03.

Texas Instruments (NASDAQ:TXN - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.32 by $0.09. The business had revenue of $4.45 billion during 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%. The business's quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.17 EPS. Equities analysts predict that Texas Instruments Incorporated will post 5.35 earnings per share for the current year.

Texas Instruments Announces Dividend

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 dividend of $1.36 per share. This represents a $5.44 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Thursday, July 31st. Texas Instruments's payout ratio is 99.63%.

Wall Street Analyst Weigh In

TXN has been the topic of a number of analyst reports. Truist Financial increased 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. 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 report on Monday, July 28th. Cantor Fitzgerald reiterated a "neutral" rating on shares of Texas Instruments in a research report on Tuesday, July 22nd. BNP Paribas upgraded Texas Instruments to a "strong sell" rating in a research note on Wednesday, July 23rd. Finally, Robert W. Baird boosted their price target on Texas Instruments from $175.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average 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.