Sky Investment Group LLC Lowers Position in Texas Instruments Incorporated (NASDAQ:TXN)

Sky Investment Group LLC trimmed its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 0.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 46,987 shares of the semiconductor company’s stock after selling 80 shares during the period. Texas Instruments makes up approximately 2.1% of Sky Investment Group LLC’s holdings, making the stock its 17th largest position. Sky Investment Group LLC’s holdings in Texas Instruments were worth $5,966,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in TXN. Wellington Management Group LLP lifted its holdings in shares of Texas Instruments by 115.6% during the first quarter. Wellington Management Group LLP now owns 21,559,378 shares of the semiconductor company’s stock valued at $2,154,430,000 after purchasing an additional 11,560,600 shares during the last quarter. Norges Bank purchased a new position in shares of Texas Instruments during the fourth quarter valued at approximately $1,343,608,000. Bank of New York Mellon Corp lifted its holdings in shares of Texas Instruments by 30.4% during the first quarter. Bank of New York Mellon Corp now owns 14,416,637 shares of the semiconductor company’s stock valued at $1,440,655,000 after purchasing an additional 3,357,505 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Texas Instruments by 46.0% during the first quarter. Invesco Ltd. now owns 7,091,006 shares of the semiconductor company’s stock valued at $708,603,000 after purchasing an additional 2,234,895 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Texas Instruments by 12.6% during the fourth quarter. Nuveen Asset Management LLC now owns 10,670,005 shares of the semiconductor company’s stock valued at $1,368,855,000 after purchasing an additional 1,197,923 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

A number of equities analysts recently weighed in on the stock. UBS Group boosted their price objective on shares of Texas Instruments from $109.00 to $111.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. SunTrust Banks boosted their price objective on shares of Texas Instruments from $109.00 to $114.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd. Morgan Stanley boosted their price objective on shares of Texas Instruments from $108.00 to $116.00 and gave the stock an “underweight” rating in a report on Monday. Mizuho decreased their price objective on shares of Texas Instruments from $112.00 to $111.00 and set a “neutral” rating for the company in a report on Wednesday, April 22nd. Finally, BNP Paribas lowered shares of Texas Instruments from a “neutral” rating to an “underperform” rating and set a $108.00 price objective for the company. in a report on Thursday, July 9th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $125.79.

Shares of TXN stock traded up $2.69 during mid-day trading on Monday, reaching $136.58. 4,622,400 shares of the company’s stock traded hands, compared to its average volume of 6,020,729. Texas Instruments Incorporated has a 12 month low of $93.09 and a 12 month high of $137.00. The firm has a 50 day moving average price of $127.33 and a two-hundred day moving average price of $119.57. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.65 and a current ratio of 3.49. The firm has a market capitalization of $122.88 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 3.57 and a beta of 1.13.

Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings data on Tuesday, April 21st. The semiconductor company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.23. Texas Instruments had a net margin of 35.17% and a return on equity of 57.45%. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the firm posted $1.26 EPS. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year. As a group, equities analysts expect that Texas Instruments Incorporated will post 4.01 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, July 31st will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Thursday, July 30th. Texas Instruments’s dividend payout ratio is currently 68.70%.

In related news, VP Ahmad Bahai sold 3,185 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $115.57, for a total value of $368,090.45. Following the completion of the transaction, the vice president now owns 27,168 shares of the company’s stock, valued at approximately $3,139,805.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.73% of the company’s stock.

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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Institutional Ownership by Quarter for Texas Instruments (NASDAQ:TXN)

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