Texas Instruments Incorporated (NASDAQ:TXN) Shares Acquired by Palmer Knight Co

Palmer Knight Co grew its position in Texas Instruments Incorporated (NASDAQ:TXN) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,283 shares of the semiconductor company’s stock after purchasing an additional 255 shares during the period. Texas Instruments makes up 2.6% of Palmer Knight Co’s holdings, making the stock its 24th largest position. Palmer Knight Co’s holdings in Texas Instruments were worth $5,502,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TXN. Norges Bank acquired a new position in shares of Texas Instruments in the fourth quarter valued at about $1,649,592,000. Van ECK Associates Corp increased its holdings in shares of Texas Instruments by 54.3% in the first quarter. Van ECK Associates Corp now owns 5,606,825 shares of the semiconductor company’s stock valued at $976,765,000 after purchasing an additional 1,972,304 shares during the period. Capital Research Global Investors grew its holdings in Texas Instruments by 4.7% during the first quarter. Capital Research Global Investors now owns 28,715,467 shares of the semiconductor company’s stock worth $5,002,522,000 after acquiring an additional 1,279,828 shares during the period. Baillie Gifford & Co. grew its holdings in Texas Instruments by 65.8% during the first quarter. Baillie Gifford & Co. now owns 2,977,032 shares of the semiconductor company’s stock worth $518,629,000 after acquiring an additional 1,181,841 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Texas Instruments by 10.1% during the fourth quarter. Franklin Resources Inc. now owns 11,928,210 shares of the semiconductor company’s stock worth $2,033,283,000 after acquiring an additional 1,095,303 shares during the period. 84.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Julie C. Knecht sold 7,764 shares of Texas Instruments stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $209.49, for a total transaction of $1,626,480.36. Following the transaction, the chief accounting officer now owns 11,806 shares in the company, valued at $2,473,238.94. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Texas Instruments news, CEO Haviv Ilan sold 1,200 shares of Texas Instruments stock in a transaction on Monday, August 26th. The stock was sold at an average price of $209.44, for a total value of $251,328.00. Following the sale, the chief executive officer now owns 158,676 shares in the company, valued at $33,233,101.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Julie C. Knecht sold 7,764 shares of Texas Instruments stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $209.49, for a total value of $1,626,480.36. Following the completion of the sale, the chief accounting officer now owns 11,806 shares in the company, valued at approximately $2,473,238.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,558 shares of company stock worth $3,255,323. 0.68% of the stock is owned by corporate insiders.

Texas Instruments Trading Down 0.4 %

Texas Instruments stock traded down $0.78 during trading on Friday, reaching $200.77. 1,023,600 shares of the company were exchanged, compared to its average volume of 5,519,498. Texas Instruments Incorporated has a 52-week low of $139.48 and a 52-week high of $214.66. The company has a market capitalization of $182.80 billion, a P/E ratio of 31.44, a PEG ratio of 4.66 and a beta of 0.99. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.62 and a quick ratio of 3.49. The stock’s 50 day simple moving average is $200.44 and its two-hundred day simple moving average is $187.14.

Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06. Texas Instruments had a return on equity of 31.10% and a net margin of 33.01%. The firm had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter last year, the business posted $1.87 earnings per share. The firm’s revenue was down 15.6% compared to the same quarter last year. On average, equities research analysts expect that Texas Instruments Incorporated will post 5.11 earnings per share for the current fiscal year.

Texas Instruments Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Wednesday, July 31st were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $5.20 dividend on an annualized basis and a yield of 2.59%. Texas Instruments’s payout ratio is 81.12%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Citigroup raised Texas Instruments from a “neutral” rating to a “buy” rating and raised their target price for the stock from $200.00 to $235.00 in a report on Wednesday, August 21st. Robert W. Baird raised their target price on Texas Instruments from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Wells Fargo & Company began coverage on Texas Instruments in a report on Thursday, May 16th. They set an “underweight” rating and a $150.00 target price on the stock. The Goldman Sachs Group raised their price objective on Texas Instruments from $157.00 to $176.00 and gave the company a “sell” rating in a report on Wednesday, July 24th. Finally, Barclays raised their price objective on Texas Instruments from $190.00 to $210.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $204.67.

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.