State of Michigan Retirement System Grows Stake in Texas Instruments Incorporated (NASDAQ:TXN)

State of Michigan Retirement System lifted its position in Texas Instruments Incorporated (NASDAQ:TXN) by 0.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 265,165 shares of the semiconductor company’s stock after purchasing an additional 500 shares during the period. State of Michigan Retirement System’s holdings in Texas Instruments were worth $46,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of TXN. Tennessee Valley Asset Management Partners purchased a new position in Texas Instruments during the fourth quarter valued at $25,000. Life Planning Partners Inc purchased a new position in Texas Instruments during the fourth quarter valued at $26,000. Richardson Financial Services Inc. purchased a new position in Texas Instruments during the fourth quarter valued at $26,000. Scarborough Advisors LLC purchased a new position in Texas Instruments during the fourth quarter valued at $26,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Texas Instruments in the fourth quarter valued at about $31,000. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Texas Instruments Trading Up 2.0 %

NASDAQ TXN traded up $3.82 during trading hours on Tuesday, hitting $198.42. 4,167,840 shares of the company were exchanged, compared to its average volume of 5,544,463. The stock has a 50-day moving average price of $190.89 and a 200 day moving average price of $175.56. The company has a quick ratio of 3.76, a current ratio of 4.91 and a debt-to-equity ratio of 0.76. Texas Instruments Incorporated has a 52 week low of $139.48 and a 52 week high of $206.00. The stock has a market cap of $180.66 billion, a PE ratio of 31.03, a price-to-earnings-growth ratio of 4.21 and a beta of 0.99.

Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings data on Tuesday, April 23rd. The semiconductor company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.13. The company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.61 billion. Texas Instruments had a return on equity of 35.28% and a net margin of 35.16%. The firm’s revenue for the quarter was down 16.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.85 earnings per share. Analysts forecast that Texas Instruments Incorporated will post 5.13 earnings per share for the current fiscal year.

Texas Instruments Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 21st. Stockholders of record on Wednesday, May 8th were paid a dividend of $1.30 per share. The ex-dividend date was Tuesday, May 7th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.62%. Texas Instruments’s dividend payout ratio is 81.12%.

Analysts Set New Price Targets

TXN has been the topic of several research analyst reports. Jefferies Financial Group downgraded Texas Instruments from a “buy” rating to a “hold” rating and lowered their price objective for the company from $200.00 to $175.00 in a research report on Monday, May 13th. Robert W. Baird boosted their price objective on Texas Instruments from $125.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Stifel Nicolaus boosted their price objective on Texas Instruments from $160.00 to $172.00 and gave the company a “hold” rating in a research report on Wednesday, April 24th. Rosenblatt Securities restated a “buy” rating and issued a $210.00 price objective on shares of Texas Instruments in a research report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. boosted their price objective on Texas Instruments from $180.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $183.43.

Insider Activity

In other news, Director Pamela H. Patsley sold 9,990 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $179.12, for a total transaction of $1,789,408.80. Following the transaction, the director now owns 33,348 shares of the company’s stock, valued at $5,973,293.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Chairman Richard K. Templeton sold 100,440 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.47, for a total value of $17,925,526.80. Following the completion of the sale, the chairman now owns 403,851 shares in the company, valued at $72,075,287.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pamela H. Patsley sold 9,990 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $179.12, for a total value of $1,789,408.80. Following the completion of the sale, the director now owns 33,348 shares of the company’s stock, valued at approximately $5,973,293.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 328,969 shares of company stock valued at $58,427,984. 0.68% of the stock is currently owned by insiders.

Texas Instruments 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.