Covenant Asset Management LLC Sells 137 Shares of Texas Instruments Incorporated (NASDAQ:TXN)

Covenant Asset Management LLC trimmed its position in Texas Instruments Incorporated (NASDAQ:TXN) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,420 shares of the semiconductor company’s stock after selling 137 shares during the period. Covenant Asset Management LLC’s holdings in Texas Instruments were worth $1,739,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ increased its position in Texas Instruments by 4.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 234,232 shares of the semiconductor company’s stock worth $45,535,000 after buying an additional 9,608 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Texas Instruments by 60.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 174,310 shares of the semiconductor company’s stock valued at $33,909,000 after purchasing an additional 65,512 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Texas Instruments by 454.5% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,256,289 shares of the semiconductor company’s stock valued at $244,386,000 after buying an additional 1,029,741 shares in the last quarter. GAMMA Investing LLC increased its holdings in Texas Instruments by 106.4% in the 2nd quarter. GAMMA Investing LLC now owns 12,987 shares of the semiconductor company’s stock valued at $2,526,000 after acquiring an additional 6,696 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of Texas Instruments by 0.3% in the third quarter. Swiss National Bank now owns 2,702,500 shares of the semiconductor company’s stock worth $558,255,000 after purchasing an additional 8,100 shares during the last quarter. 84.99% of the stock is currently owned by institutional investors.

Texas Instruments Stock Performance

Shares of TXN opened at $197.86 on Friday. The company has a quick ratio of 3.14, a current ratio of 4.31 and a debt-to-equity ratio of 0.74. Texas Instruments Incorporated has a 52-week low of $151.27 and a 52-week high of $220.38. The stock has a 50 day moving average price of $204.49 and a 200 day moving average price of $200.14. The company has a market capitalization of $180.49 billion, a price-to-earnings ratio of 36.78, a price-to-earnings-growth ratio of 4.40 and a beta of 0.99.

Texas Instruments (NASDAQ:TXN) last posted its earnings results on Tuesday, October 22nd. The semiconductor company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.09. Texas Instruments had a net margin of 31.60% and a return on equity of 29.05%. The firm had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same period last year, the firm posted $1.80 EPS. The company’s revenue was down 8.4% on a year-over-year basis. Research analysts predict that Texas Instruments Incorporated will post 5.08 EPS for the current fiscal year.

Texas Instruments Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Thursday, October 31st were given a $1.36 dividend. This is an increase from Texas Instruments’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $5.44 annualized dividend and a yield of 2.75%. Texas Instruments’s dividend payout ratio is 101.12%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $200.00 price target on shares of Texas Instruments in a research note on Wednesday, October 23rd. Barclays dropped their target price on shares of Texas Instruments from $210.00 to $200.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Evercore ISI boosted their price target on Texas Instruments from $268.00 to $298.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of Texas Instruments in a research report on Wednesday, October 23rd. Finally, Susquehanna dropped their price target on Texas Instruments from $250.00 to $240.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a 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 $210.05.

Insider Transactions at Texas Instruments

In other news, VP Mohammad Yunus sold 3,778 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $208.90, for a total value of $789,224.20. Following the completion of the transaction, the vice president now owns 28,894 shares in the company, valued at $6,035,956.60. This trade represents a 11.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Haviv Ilan sold 1,200 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $209.44, for a total transaction of $251,328.00. Following the completion of the sale, the chief executive officer now directly owns 158,676 shares in the company, valued at approximately $33,233,101.44. The trade was a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,968 shares of company stock worth $3,126,464. Company insiders own 0.68% of the company’s stock.

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.