RPG Investment Advisory LLC lowered its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 5.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,450 shares of the semiconductor company’s stock after selling 150 shares during the period. RPG Investment Advisory LLC’s holdings in Texas Instruments were worth $260,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund boosted its stake in Texas Instruments by 6,709.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 24,191,906 shares of the semiconductor company’s stock valued at $256,000 after acquiring an additional 23,836,621 shares in the last quarter. Norges Bank acquired a new position in Texas Instruments in the fourth quarter valued at $864,454,000. Two Sigma Advisers LP raised its holdings in shares of Texas Instruments by 522.4% in the fourth quarter. Two Sigma Advisers LP now owns 2,145,644 shares of the semiconductor company’s stock valued at $202,763,000 after buying an additional 1,800,900 shares during the last quarter. London Co. of Virginia purchased a new stake in shares of Texas Instruments in the fourth quarter valued at about $115,323,000. Finally, Alecta Pensionsforsakring Omsesidigt raised its holdings in shares of Texas Instruments by 54.8% in the fourth quarter. Alecta Pensionsforsakring Omsesidigt now owns 3,434,000 shares of the semiconductor company’s stock valued at $322,144,000 after buying an additional 1,215,000 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.
A number of equities research analysts have recently commented on TXN shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $100.00 target price (down from $103.00) on shares of Texas Instruments in a report on Thursday, January 24th. BidaskClub cut shares of Texas Instruments from a “hold” rating to a “sell” rating in a report on Friday, January 25th. ValuEngine cut shares of Texas Instruments from a “buy” rating to a “hold” rating in a report on Monday, February 25th. BMO Capital Markets reissued a “buy” rating and set a $120.00 price target on shares of Texas Instruments in a report on Thursday, January 24th. Finally, DZ Bank cut shares of Texas Instruments from a “hold” rating to a “sell” rating in a report on Thursday, February 21st. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $108.40.
In other news, insider Hagop H. Kozanian sold 9,061 shares of the stock in a transaction that occurred on Monday, January 28th. The shares were sold at an average price of $102.60, for a total value of $929,658.60. Following the sale, the insider now directly owns 40,164 shares in the company, valued at $4,120,826.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard K. Templeton sold 90,842 shares of the stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $101.14, for a total transaction of $9,187,759.88. The disclosure for this sale can be found here. Insiders sold 256,061 shares of company stock worth $26,536,471 over the last quarter. Company insiders own 0.89% of the company’s stock.
Shares of Texas Instruments stock opened at $116.37 on Wednesday. Texas Instruments Incorporated has a 12-month low of $87.70 and a 12-month high of $118.48. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.27 and a quick ratio of 2.38. The stock has a market capitalization of $109.23 billion, a price-to-earnings ratio of 21.47, a P/E/G ratio of 2.19 and a beta of 1.17.
Texas Instruments (NASDAQ:TXN) last issued its earnings results on Wednesday, January 23rd. The semiconductor company reported $1.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.03. Texas Instruments had a net margin of 35.35% and a return on equity of 53.05%. The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same period last year, the company posted $1.09 earnings per share. The firm’s quarterly revenue was down .9% compared to the same quarter last year. As a group, sell-side analysts predict that Texas Instruments Incorporated will post 5.19 earnings per share for the current year.
About Texas Instruments
Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. It operates in two segments, Analog and Embedded Processing. The Analog segment offers power products to manage power requirements in various levels using battery management solutions, portable components, power supply controls, point-of-load products, switches and interfaces, integrated protection devices, high-voltage products, and mobile lighting and display products.
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