According to a recent filing with the Securities and Exchange Commission (SEC), Journey Advisory Group LLC has decreased its holdings in Texas Instruments Incorporated (NASDAQ: TXN) by 12.9% during the second quarter. The institutional investor now owns 1,965 shares of the semiconductor firm, following the sale of 290 shares during this period. As of the end of June 2023, the value of Journey Advisory Group’s holdings in Texas Instruments stood at approximately $408,000.
Several other institutional investors have also made notable adjustments to their positions in Texas Instruments recently. For example, Brighton Jones LLC increased its stake by 33.4% in the fourth quarter, now owning 16,840 shares valued at $3,158,000 after acquiring an additional 4,218 shares. Similarly, GAMMA Investing LLC raised its holdings by 21.8% during the first quarter, bringing its total to 19,043 shares, valued at $3,422,000.
Palumbo Wealth Management LLC and Stiles Financial Services Inc. also expanded their positions, with increases of 42.5% and 0.7%, respectively. Oppenheimer & Co. Inc. raised its holdings by 2.5%, now owning 61,335 shares worth $11,022,000. Collectively, institutional investors own approximately 84.99% of Texas Instruments’ stock.
Stock Performance and Dividend Announcement
As of the latest trading session, shares of Texas Instruments opened at $179.59. The stock has demonstrated stability with a 50-day simple moving average of $187.17 and a 200-day simple moving average of $185.96. The company maintains a debt-to-equity ratio of 0.86 and a market capitalization of $163.27 billion. Texas Instruments has recorded a PE ratio of 32.89 and a PEG ratio of 2.99.
In a positive development for shareholders, Texas Instruments has announced a quarterly dividend of $1.42 per share, set to be paid on November 12, 2023. This marks an increase from the previous dividend of $1.36, contributing to an annualized dividend of $5.68 and a yield of 3.2%. Shareholders on record as of October 31, 2023, will be eligible for this dividend, with the ex-dividend date also falling on October 31. The company’s current dividend payout ratio stands at 99.63%.
Insider Transactions and Analyst Ratings
In related news, Vice President Ahmad Bahai recently sold 1,500 shares of Texas Instruments on August 25, 2023, at an average price of $205.35, totaling approximately $308,025. Following this sale, Bahai holds 38,883 shares, valued at roughly $7,984,624, reflecting a 3.71% decrease in his position. Company insiders currently own 0.57% of Texas Instruments’ stock.
Several analysts have shared updated price targets for Texas Instruments. Morgan Stanley recently cut its price objective from $197.00 to $192.00 while maintaining an “underweight” rating. In contrast, Truist Financial increased its target from $171.00 to $196.00, offering a “hold” rating. The Goldman Sachs Group initiated coverage with a “buy” rating and a price objective of $255.00. Overall, analysts have varied opinions, with two rating the stock as a Strong Buy, twelve as Buy, twelve as Hold, and six as Sell, culminating in an average price target of $209.47, according to MarketBeat.com.
Texas Instruments Incorporated specializes in designing, manufacturing, and selling semiconductors for electronics designers and manufacturers across the globe. The company operates through its Analog and Embedded Processing segments, providing a range of power products crucial for managing voltage levels in various applications.
