Mechanics Financial Corp decreased its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN – Free Report) by 26.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 299 shares of the semiconductor company’s stock after selling 109 shares during the quarter. Mechanics Financial Corp’s holdings in Texas Instruments were worth $62,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Cloud Capital Management LLC acquired a new stake in shares of Texas Instruments during the first quarter worth $28,000. Dagco Inc. acquired a new position in Texas Instruments in the first quarter valued at $32,000. CBIZ Investment Advisory Services LLC boosted its holdings in Texas Instruments by 67.6% in the first quarter. CBIZ Investment Advisory Services LLC now owns 186 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 75 shares during the last quarter. Quintet Private Bank Europe S.A. acquired a new position in Texas Instruments in the first quarter valued at $34,000. Finally, Peoples Financial Services CORP. acquired a new position in Texas Instruments in the second quarter valued at $42,000. Institutional investors and hedge funds own 84.99% of the company’s stock.
Texas Instruments Stock Up 1.1%
Shares of NASDAQ TXN opened at $182.32 on Friday. Texas Instruments Incorporated has a 1 year low of $139.95 and a 1 year high of $221.69. The firm has a market cap of $165.75 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 2.95 and a beta of 1.01. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.88 and a current ratio of 5.81. The stock’s 50-day simple moving average is $189.18 and its 200-day simple moving average is $185.85.
Texas Instruments Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 12th. Investors of record on Friday, October 31st will be issued a $1.42 dividend. This is an increase from Texas Instruments’s previous quarterly dividend of $1.36. This represents a $5.68 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, October 31st. Texas Instruments’s dividend payout ratio is presently 99.63%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on TXN. TD Cowen reduced their target price on Texas Instruments from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Wells Fargo & Company reduced their target price on Texas Instruments from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 23rd. UBS Group set a $255.00 target price on Texas Instruments in a report on Tuesday, July 22nd. Arete Research upgraded Texas Instruments to a “hold” rating in a report on Thursday, June 26th. Finally, The Goldman Sachs Group assumed coverage on Texas Instruments in a report on Thursday, July 10th. They issued a “buy” rating and a $255.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $213.82.
Read Our Latest Research Report on TXN
Insiders Place Their Bets
In related news, VP Ahmad Bahai sold 1,500 shares of the business’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $205.35, for a total value of $308,025.00. Following the completion of the sale, the vice president directly owned 38,883 shares of the company’s stock, valued at $7,984,624.05. The trade was a 3.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is currently owned by corporate insiders.
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.
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