DNB Asset Management AS Increases Holdings in Texas Instruments Incorporated (NASDAQ:TXN)

Posted by Defense World Staff on Sep 21st, 2023

DNB Asset Management AS raised its stake in Texas Instruments Incorporated (NASDAQ:TXN – Free Report) by 15.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 271,765 shares of the semiconductor company’s stock after acquiring an additional 35,712 shares during the period. DNB Asset Management AS’s holdings in Texas Instruments were worth $48,923,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TXN. Sittner & Nelson LLC grew its position in Texas Instruments by 892.9% during the 1st quarter. Sittner & Nelson LLC now owns 139 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 125 shares during the last quarter. Cranbrook Wealth Management LLC bought a new stake in shares of Texas Instruments during the first quarter valued at approximately $28,000. Coppell Advisory Solutions Corp. purchased a new position in Texas Instruments in the 4th quarter worth approximately $30,000. Magellan Asset Management Ltd bought a new position in Texas Instruments in the 1st quarter valued at approximately $32,000. Finally, Godsey & Gibb Inc. purchased a new stake in Texas Instruments during the 1st quarter valued at $36,000. 83.37% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Texas Instruments

In other news, Director Pamela H. Patsley sold 10,539 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $179.34, for a total value of $1,890,064.26. Following the transaction, the director now owns 32,662 shares of the company’s stock, valued at $5,857,603.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Carrie Smith Cox sold 16,055 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $180.04, for a total transaction of $2,890,542.20. Following the sale, the director now directly owns 35,801 shares of the company’s stock, valued at approximately $6,445,612.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pamela H. Patsley sold 10,539 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $179.34, for a total transaction of $1,890,064.26. Following the completion of the transaction, the director now directly owns 32,662 shares of the company’s stock, valued at $5,857,603.08. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Texas Instruments Stock Performance

Shares of NASDAQ TXN opened at $162.10 on Thursday. The stock has a market cap of $147.18 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 2.38 and a beta of 1.03. Texas Instruments Incorporated has a 1 year low of $145.97 and a 1 year high of $188.12. The firm has a fifty day moving average price of $171.15 and a 200-day moving average price of $172.94. The company has a debt-to-equity ratio of 0.69, a current ratio of 5.72 and a quick ratio of 4.35.

Texas Instruments (NASDAQ:TXN – Get Free Report) last issued its quarterly earnings results on Tuesday, July 25th. The semiconductor company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.11. Texas Instruments had a return on equity of 50.90% and a net margin of 40.84%. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same quarter in the prior year, the business posted $2.45 EPS. Texas Instruments’s revenue for the quarter was down 13.1% compared to the same quarter last year. Equities analysts anticipate that Texas Instruments Incorporated will post 7.34 earnings per share for the current fiscal year.

Texas Instruments Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were paid a $1.24 dividend. The ex-dividend date of this dividend was Friday, July 28th. This represents a $4.96 annualized dividend and a yield of 3.06%. Texas Instruments’s payout ratio is 59.62%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TXN. Truist Financial decreased their price target on Texas Instruments from $178.00 to $174.00 in a research note on Wednesday, July 26th. StockNews.com assumed coverage on shares of Texas Instruments in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Barclays boosted their price objective on shares of Texas Instruments from $165.00 to $175.00 in a report on Wednesday, July 26th. Rosenblatt Securities restated a “buy” rating and issued a $230.00 target price on shares of Texas Instruments in a report on Wednesday. Finally, Mizuho decreased their target price on shares of Texas Instruments from $185.00 to $181.00 in a research note on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Texas Instruments has an average rating of “Hold” and a consensus price target of $185.32.

Read Our Latest Research Report on TXN

Texas Instruments Profile

(Free Report)

Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers in the United States and internationally. It operates in two segments, Analog and Embedded Processing. 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.