Eagle Ridge Investment Management trimmed its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 7.7% during the first quarter, Holdings Channel reports. The fund owned 6,023 shares of the semiconductor company’s stock after selling 500 shares during the period. Eagle Ridge Investment Management’s holdings in Texas Instruments were worth $639,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cordasco Financial Network purchased a new position in Texas Instruments in the 1st quarter valued at about $27,000. CX Institutional lifted its holdings in Texas Instruments by 95.9% in the 1st quarter. CX Institutional now owns 286 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 140 shares in the last quarter. Farmers National Bank purchased a new position in Texas Instruments in the 1st quarter valued at about $35,000. Intercontinental Wealth Advisors LLC purchased a new position in Texas Instruments in the 4th quarter valued at about $40,000. Finally, Essex Savings Bank purchased a new position in Texas Instruments in the 4th quarter valued at about $42,000. 86.72% of the stock is currently owned by hedge funds and other institutional investors.

TXN opened at $104.73 on Tuesday. The company has a market cap of $100.19 billion, a P/E ratio of 19.32, a price-to-earnings-growth ratio of 2.04 and a beta of 1.20. Texas Instruments Incorporated has a 1 year low of $87.70 and a 1 year high of $119.32. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.68 and a quick ratio of 2.70.

Texas Instruments (NASDAQ:TXN) last posted its earnings results on Tuesday, April 23rd. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.09. The firm had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.48 billion. Texas Instruments had a net margin of 34.84% and a return on equity of 55.48%. The company’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.35 EPS. On average, analysts expect that Texas Instruments Incorporated will post 5.16 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 6th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date was Friday, May 3rd. Texas Instruments’s dividend payout ratio (DPR) is presently 56.83%.

In related news, VP Haviv Ilan sold 76,818 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $117.38, for a total transaction of $9,016,896.84. Following the completion of the sale, the vice president now owns 126,741 shares of the company’s stock, valued at approximately $14,876,858.58. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Rafael R. Lizardi sold 27,675 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $117.87, for a total transaction of $3,262,052.25. Following the sale, the insider now directly owns 98,809 shares of the company’s stock, valued at approximately $11,646,616.83. The disclosure for this sale can be found here. In the last three months, insiders have sold 879,332 shares of company stock valued at $103,024,864. Corporate insiders own 0.89% of the company’s stock.

A number of research firms have issued reports on TXN. ValuEngine lowered shares of Texas Instruments from a “buy” rating to a “hold” rating in a report on Monday, May 13th. Nomura initiated coverage on shares of Texas Instruments in a report on Tuesday, May 7th. They set a “neutral” rating and a $106.00 price objective on the stock. Wells Fargo & Co cut their price objective on shares of Texas Instruments from $63.00 to $58.00 and set a “market perform” rating on the stock in a report on Tuesday, April 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $124.00 price objective on shares of Texas Instruments in a report on Tuesday, April 30th. Finally, Loop Capital increased their price objective on shares of Texas Instruments to $126.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $111.18.

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Texas Instruments Company Profile

Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. It operates in two segments, Analog and Embedded Processing. The Analog segment offers power products to manage power requirements in various levels using battery management solutions, portable components, power supply controls, point-of-load products, switches and interfaces, integrated protection devices, high-voltage products, and mobile lighting and display products.

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Institutional Ownership by Quarter for Texas Instruments (NASDAQ:TXN)

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