Texas Instruments Incorporated (NASDAQ:TXN) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System reduced its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 0.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 262,465 shares of the semiconductor company’s stock after selling 600 shares during the period. State of Michigan Retirement System’s holdings in Texas Instruments were worth $47,165,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Summit Securities Group LLC purchased a new position in Texas Instruments in the fourth quarter valued at approximately $27,000. Cloud Capital Management LLC purchased a new stake in shares of Texas Instruments during the first quarter valued at approximately $28,000. Copia Wealth Management purchased a new stake in shares of Texas Instruments during the fourth quarter valued at approximately $30,000. Quintet Private Bank Europe S.A. purchased a new stake in shares of Texas Instruments during the first quarter valued at approximately $34,000. Finally, Atala Financial Inc purchased a new stake in shares of Texas Instruments during the fourth quarter valued at approximately $37,000. 84.99% of the stock is owned by institutional investors and hedge funds.

Texas Instruments Stock Up 1.5%

Shares of Texas Instruments stock opened at $219.66 on Friday. Texas Instruments Incorporated has a 12-month low of $139.95 and a 12-month high of $220.78. The stock has a market capitalization of $199.55 billion, a P/E ratio of 41.68, a PEG ratio of 3.52 and a beta of 1.03. The stock has a 50 day moving average price of $192.98 and a two-hundred day moving average price of $184.11. The company has a quick ratio of 3.37, a current ratio of 5.26 and a debt-to-equity ratio of 0.78.

Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.22. Texas Instruments had a return on equity of 28.75% and a net margin of 30.36%. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same period in the previous year, the company earned $1.10 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities analysts expect that Texas Instruments Incorporated will post 5.35 earnings per share for the current year.

Texas Instruments Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Wednesday, April 30th were issued a $1.36 dividend. This represents a $5.44 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Wednesday, April 30th. Texas Instruments’s dividend payout ratio is 103.23%.

Analyst Ratings Changes

TXN has been the subject of a number of research analyst reports. Benchmark dropped their price target on shares of Texas Instruments from $230.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. KeyCorp lifted their price target on shares of Texas Instruments from $215.00 to $240.00 and gave the stock an “overweight” rating in a research note on Tuesday. Wells Fargo & Company set a $190.00 price target on shares of Texas Instruments and gave the stock an “equal weight” rating in a research note on Monday, June 16th. UBS Group lifted their price objective on shares of Texas Instruments from $215.00 to $245.00 and gave the stock a “buy” rating in a report on Monday. Finally, Seaport Res Ptn raised shares of Texas Instruments to a “strong sell” rating in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Texas Instruments presently has a consensus rating of “Hold” and a consensus price target of $200.20.

Texas Instruments 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.