TD Asset Management Inc. Has $278.29 Million Holdings in Texas Instruments Incorporated (NASDAQ:TXN)
TD Asset Management Inc. cut its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,424,980 shares of the semiconductor company’s stock after selling 30,375 shares during the quarter. TD Asset Management Inc.’s holdings in Texas Instruments were worth $278,291,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Railway Pension Investments Ltd bought a new stake in Texas Instruments during the 2nd quarter worth $12,823,000. DekaBank Deutsche Girozentrale raised its stake in Texas Instruments by 122.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,487,044 shares of the semiconductor company’s stock worth $167,834,000 after purchasing an additional 819,965 shares during the period. NN Investment Partners Holdings N.V. raised its stake in Texas Instruments by 133.9% during the second quarter. NN Investment Partners Holdings N.V. now owns 910,166 shares of the semiconductor company’s stock worth $104,450,000 after purchasing an additional 521,088 shares during the period. Lazard Asset Management LLC raised its stake in Texas Instruments by 89.7% during the first quarter. Lazard Asset Management LLC now owns 1,093,931 shares of the semiconductor company’s stock worth $116,032,000 after purchasing an additional 517,285 shares during the period. Finally, Bank of Montreal Can raised its stake in Texas Instruments by 17.8% during the first quarter. Bank of Montreal Can now owns 3,212,978 shares of the semiconductor company’s stock worth $340,801,000 after purchasing an additional 486,584 shares during the period. Institutional investors own 85.91% of the company’s stock.
Shares of Texas Instruments stock traded up $3.04 on Tuesday, reaching $123.12. The company had a trading volume of 468,594 shares, compared to its average volume of 6,360,526. The business has a 50 day simple moving average of $119.53. The stock has a market cap of $111.57 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 2.28 and a beta of 1.25. Texas Instruments Incorporated has a 52-week low of $87.70 and a 52-week high of $130.37. The company has a current ratio of 3.01, a quick ratio of 2.22 and a debt-to-equity ratio of 0.54.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Wednesday, July 31st were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend was Tuesday, July 30th. Texas Instruments’s dividend payout ratio (DPR) is currently 56.83%.
A number of brokerages have commented on TXN. Zacks Investment Research raised shares of Texas Instruments from a “sell” rating to a “hold” rating and set a $135.00 target price on the stock in a research note on Saturday, July 27th. Wells Fargo & Co reduced their target price on shares of Texas Instruments from $63.00 to $58.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $124.00 target price on shares of Texas Instruments in a research note on Tuesday, April 30th. JPMorgan Chase & Co. lifted their target price on shares of Texas Instruments from $130.00 to $138.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Oppenheimer lifted their target price on shares of Texas Instruments from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $118.74.
In related news, insider R Gregory Delagi sold 450,000 shares of Texas Instruments stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $128.31, for a total value of $57,739,500.00. Following the completion of the transaction, the insider now owns 243,755 shares in the company, valued at $31,276,204.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rafael R. Lizardi sold 76,523 shares of Texas Instruments stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $128.02, for a total transaction of $9,796,474.46. Following the completion of the transaction, the chief financial officer now owns 94,648 shares of the company’s stock, valued at approximately $12,116,836.96. The disclosure for this sale can be found here. Insiders sold 1,251,117 shares of company stock valued at $159,473,823 in the last 90 days. Company insiders own 0.89% 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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