Covington Investment Advisors Inc. Has $12.81 Million Holdings in Texas Instruments Incorporated (NASDAQ:TXN)

Covington Investment Advisors Inc. increased its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,028 shares of the semiconductor company’s stock after purchasing an additional 430 shares during the period. Texas Instruments makes up 1.9% of Covington Investment Advisors Inc.’s investment portfolio, making the stock its 20th biggest holding. Covington Investment Advisors Inc.’s holdings in Texas Instruments were worth $12,813,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TXN. Waverly Advisors LLC grew its stake in Texas Instruments by 79.5% in the 1st quarter. Waverly Advisors LLC now owns 9,111 shares of the semiconductor company’s stock valued at $1,587,000 after buying an additional 4,035 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its position in shares of Texas Instruments by 12.9% in the first quarter. B. Riley Wealth Advisors Inc. now owns 29,198 shares of the semiconductor company’s stock valued at $4,643,000 after purchasing an additional 3,339 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Texas Instruments by 14.9% in the first quarter. Tidal Investments LLC now owns 41,833 shares of the semiconductor company’s stock worth $7,278,000 after purchasing an additional 5,415 shares during the period. Beacon Capital Management LLC lifted its position in shares of Texas Instruments by 42.1% during the 1st quarter. Beacon Capital Management LLC now owns 331 shares of the semiconductor company’s stock worth $58,000 after purchasing an additional 98 shares during the last quarter. Finally, KLCM Advisors Inc. boosted its stake in Texas Instruments by 17.4% during the 1st quarter. KLCM Advisors Inc. now owns 3,789 shares of the semiconductor company’s stock valued at $660,000 after purchasing an additional 561 shares during the period. 84.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Robert E. Sanchez sold 9,990 shares of Texas Instruments stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $208.80, for a total value of $2,085,912.00. Following the completion of the sale, the director now directly owns 20,461 shares in the company, valued at $4,272,256.80. This trade represents a 32.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.68% of the stock is currently owned by corporate insiders.

Texas Instruments Price Performance

Texas Instruments stock opened at $202.93 on Tuesday. The business’s fifty day moving average is $204.54 and its two-hundred day moving average is $200.61. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.14 and a current ratio of 4.31. The firm has a market cap of $185.12 billion, a P/E ratio of 37.72, a P/E/G ratio of 4.33 and a beta of 0.99. Texas Instruments Incorporated has a 52 week low of $151.27 and a 52 week high of $220.38.

Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.09. The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.12 billion. Texas Instruments had a net margin of 31.60% and a return on equity of 29.05%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.80 EPS. Equities research analysts forecast that Texas Instruments Incorporated will post 5.08 earnings per share for the current fiscal year.

Texas Instruments Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Thursday, October 31st were issued a $1.36 dividend. The ex-dividend date was Thursday, October 31st. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.68%. This is a positive change from Texas Instruments’s previous quarterly dividend of $1.30. Texas Instruments’s dividend payout ratio (DPR) is currently 101.12%.

Analyst Ratings Changes

A number of brokerages have recently commented on TXN. Barclays cut their price target on Texas Instruments from $210.00 to $200.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of Texas Instruments in a research note on Wednesday, October 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $200.00 price target on shares of Texas Instruments in a research report on Wednesday, October 23rd. Truist Financial cut their price objective on shares of Texas Instruments from $198.00 to $190.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. Finally, Summit Insights upgraded shares of Texas Instruments from a “hold” rating to a “buy” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $210.05.

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.