Congress Asset Management Co. Buys Shares of 7,089 Texas Instruments Incorporated (NASDAQ:TXN)

Congress Asset Management Co. purchased a new position in shares of Texas Instruments Incorporated (NASDAQ:TXN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,089 shares of the semiconductor company’s stock, valued at approximately $1,329,000.

Several other hedge funds have also made changes to their positions in TXN. Financial Life Planners bought a new stake in Texas Instruments in the fourth quarter valued at $26,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Texas Instruments in the 4th quarter worth about $27,000. MidAtlantic Capital Management Inc. bought a new stake in Texas Instruments in the 3rd quarter valued at about $28,000. Capital Performance Advisors LLP acquired a new position in Texas Instruments during the 3rd quarter valued at about $39,000. Finally, FSA Wealth Management LLC bought a new position in Texas Instruments in the 3rd quarter worth about $41,000. Institutional investors own 84.99% of the company’s stock.

Texas Instruments Stock Performance

TXN opened at $183.03 on Tuesday. The business has a fifty day simple moving average of $188.18 and a 200-day simple moving average of $197.31. The firm has a market cap of $166.96 billion, a PE ratio of 35.27, a P/E/G ratio of 2.95 and a beta of 0.97. The company has a quick ratio of 2.88, a current ratio of 4.12 and a debt-to-equity ratio of 0.76. Texas Instruments Incorporated has a fifty-two week low of $158.90 and a fifty-two week high of $220.38.

Texas Instruments (NASDAQ:TXN) last released its quarterly earnings results on Thursday, January 23rd. The semiconductor company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.10. Texas Instruments had a return on equity of 28.08% and a net margin of 30.68%. During the same period last year, the business posted $1.49 earnings per share. As a group, equities analysts predict that Texas Instruments Incorporated will post 5.38 EPS for the current fiscal year.

Texas Instruments Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Friday, January 31st were issued a dividend of $1.36 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.97%. Texas Instruments’s dividend payout ratio is currently 104.82%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TXN shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $200.00 price objective on shares of Texas Instruments in a research report on Friday, January 24th. Morgan Stanley boosted their price target on Texas Instruments from $154.00 to $167.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 23rd. Barclays lowered their price target on Texas Instruments from $200.00 to $180.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Benchmark reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Texas Instruments in a report on Friday, January 24th. Finally, Susquehanna lowered their target price on shares of 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 equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $209.20.

Insider Activity at Texas Instruments

In related news, Director Ronald Kirk sold 10,539 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $203.33, for a total transaction of $2,142,894.87. Following the transaction, the director now directly owns 14,323 shares of the company’s stock, valued at approximately $2,912,295.59. The trade was a 42.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Blinn sold 590 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $180.71, for a total value of $106,618.90. Following the completion of the sale, the director now directly owns 11,717 shares of the company’s stock, valued at approximately $2,117,379.07. This represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is 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.