Jennison Associates LLC Raises Stock Position in Texas Instruments Incorporated (NASDAQ:TXN)

Jennison Associates LLC raised its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 2,898.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,214,471 shares of the semiconductor company’s stock after buying an additional 2,140,605 shares during the quarter. Jennison Associates LLC owned about 0.24% of Texas Instruments worth $397,940,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Texas Instruments by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 93,567,277 shares of the semiconductor company’s stock valued at $17,544,800,000 after acquiring an additional 649,620 shares during the last quarter. Geode Capital Management LLC boosted its stake in Texas Instruments by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 21,554,142 shares of the semiconductor company’s stock worth $4,032,599,000 after buying an additional 267,352 shares during the period. Norges Bank purchased a new position in Texas Instruments during the fourth quarter worth about $2,584,490,000. Alliancebernstein L.P. boosted its stake in Texas Instruments by 6.9% during the fourth quarter. Alliancebernstein L.P. now owns 12,706,971 shares of the semiconductor company’s stock worth $2,382,684,000 after buying an additional 822,797 shares during the period. Finally, Invesco Ltd. boosted its stake in Texas Instruments by 15.4% during the fourth quarter. Invesco Ltd. now owns 11,893,157 shares of the semiconductor company’s stock worth $2,230,086,000 after buying an additional 1,587,036 shares during the period. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TXN. Truist Financial reduced their target price on shares of Texas Instruments from $195.00 to $171.00 and set a “hold” rating on the stock in a report on Thursday, April 24th. Sanford C. Bernstein raised shares of Texas Instruments from a “strong sell” rating to a “hold” rating in a report on Thursday, June 5th. Cantor Fitzgerald dropped their price target on shares of Texas Instruments from $200.00 to $170.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. JPMorgan Chase & Co. lowered their target price on shares of Texas Instruments from $230.00 to $195.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Finally, UBS Group reiterated a “buy” rating and issued a $255.00 price objective (up from $245.00) on shares of Texas Instruments in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $203.53.

Texas Instruments Stock Performance

TXN stock opened at $217.58 on Friday. The company has a current ratio of 5.26, a quick ratio of 3.37 and a debt-to-equity ratio of 0.78. The firm has a market cap of $197.67 billion, a P/E ratio of 41.41, a P/E/G ratio of 3.53 and a beta of 1.03. Texas Instruments Incorporated has a 12-month low of $139.95 and a 12-month high of $221.69. The stock’s 50 day simple moving average is $198.46 and its 200 day simple moving average is $185.06.

Texas Instruments (NASDAQ:TXN) last posted its quarterly 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. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.91 billion. Texas Instruments had a return on equity of 28.75% and a net margin of 30.36%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.10 EPS. As a group, equities research analysts predict that Texas Instruments Incorporated will post 5.35 EPS for the current year.

Texas Instruments Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 12th. Investors of record on Thursday, July 31st will be paid a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a yield of 2.50%. Texas Instruments’s payout ratio is currently 103.23%.

Texas Instruments Company 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.