Rafferty Asset Management LLC Decreases Position in Texas Instruments Incorporated (NASDAQ:TXN)

Rafferty Asset Management LLC cut its position in Texas Instruments Incorporated (NASDAQ:TXN) by 12.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,561,661 shares of the semiconductor company’s stock after selling 355,902 shares during the period. Texas Instruments makes up about 1.7% of Rafferty Asset Management LLC’s investment portfolio, making the stock its 11th largest holding. Rafferty Asset Management LLC’s holdings in Texas Instruments were worth $480,337,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Ameritas Advisory Services LLC raised its holdings in shares of Texas Instruments by 73.7% during the fourth quarter. Ameritas Advisory Services LLC now owns 8,739 shares of the semiconductor company’s stock valued at $1,639,000 after purchasing an additional 3,707 shares during the last quarter. HB Wealth Management LLC increased its holdings in Texas Instruments by 4.4% during the fourth quarter. HB Wealth Management LLC now owns 99,856 shares of the semiconductor company’s stock valued at $18,724,000 after buying an additional 4,238 shares during the last quarter. Hamlin Capital Management LLC increased its holdings in Texas Instruments by 9.2% during the fourth quarter. Hamlin Capital Management LLC now owns 871,623 shares of the semiconductor company’s stock valued at $163,438,000 after buying an additional 73,715 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Texas Instruments by 36.8% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 17,710 shares of the semiconductor company’s stock valued at $3,321,000 after buying an additional 4,761 shares during the last quarter. Finally, James Hambro & Partners LLP increased its holdings in Texas Instruments by 2.8% during the fourth quarter. James Hambro & Partners LLP now owns 555,234 shares of the semiconductor company’s stock valued at $104,126,000 after buying an additional 15,165 shares during the last quarter. 84.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TXN has been the subject of a number of research reports. Truist Financial reduced their target price on shares of Texas Instruments from $195.00 to $171.00 and set a “hold” rating for the company in a report on Thursday, April 24th. Cantor Fitzgerald reduced their target price on shares of Texas Instruments from $200.00 to $170.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Mizuho set a $170.00 target price on shares of Texas Instruments in a report on Thursday, April 24th. DZ Bank raised shares of Texas Instruments from a “sell” rating to a “hold” rating and set a $163.00 target price for the company in a report on Friday, April 25th. Finally, Citigroup dropped their price target on shares of Texas Instruments from $235.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $189.41.

Insider Transactions at Texas Instruments

In related news, Director Janet F. Clark sold 6,065 shares of Texas Instruments stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $203.62, for a total transaction of $1,234,955.30. Following the transaction, the director now directly owns 10,816 shares of the company’s stock, valued at $2,202,353.92. This trade represents a 35.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Richard K. Templeton sold 97,000 shares of Texas Instruments stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $197.69, for a total transaction of $19,175,930.00. Following the transaction, the chairman now directly owns 409,089 shares in the company, valued at approximately $80,872,804.41. The trade was a 19.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 297,065 shares of company stock valued at $59,734,685. 0.57% of the stock is currently owned by company insiders.

Texas Instruments Stock Down 0.5%

TXN opened at $187.34 on Thursday. The firm has a 50-day simple moving average of $167.04 and a two-hundred day simple moving average of $184.86. Texas Instruments Incorporated has a 52 week low of $139.95 and a 52 week high of $220.39. The company has a market capitalization of $170.19 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 3.30 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 (NASDAQ:TXN) last announced its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.22. Texas Instruments had a net margin of 30.68% and a return on equity of 28.08%. The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same period in the prior year, the company earned $1.10 EPS. The business’s revenue was up 11.1% compared to the same quarter last year. Analysts forecast that Texas Instruments Incorporated will post 5.35 earnings per share for the current fiscal year.

Texas Instruments Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Wednesday, April 30th were given a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend was Wednesday, April 30th. Texas Instruments’s dividend payout ratio (DPR) is currently 103.23%.

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.