Advisors Capital Management LLC Has $55.12 Million Stock Position in Texas Instruments Incorporated (NASDAQ:TXN)

Advisors Capital Management LLC grew its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 185.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 316,421 shares of the semiconductor company’s stock after purchasing an additional 205,676 shares during the period. Texas Instruments comprises approximately 1.0% of Advisors Capital Management LLC’s investment portfolio, making the stock its 20th biggest holding. Advisors Capital Management LLC’s holdings in Texas Instruments were worth $55,124,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. First National Bank of Mount Dora Trust Investment Services increased its holdings in Texas Instruments by 0.4% during the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 42,134 shares of the semiconductor company’s stock worth $7,182,000 after buying an additional 155 shares during the last quarter. Silver Oak Securities Incorporated bought a new stake in shares of Texas Instruments in the 4th quarter valued at about $222,000. First National Advisers LLC raised its holdings in shares of Texas Instruments by 27.6% in the 4th quarter. First National Advisers LLC now owns 9,516 shares of the semiconductor company’s stock valued at $1,623,000 after purchasing an additional 2,059 shares during the period. Salem Investment Counselors Inc. lifted its stake in Texas Instruments by 2.2% in the 4th quarter. Salem Investment Counselors Inc. now owns 8,232 shares of the semiconductor company’s stock valued at $1,403,000 after purchasing an additional 177 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in Texas Instruments by 16.9% during the first quarter. Nordea Investment Management AB now owns 1,005,547 shares of the semiconductor company’s stock worth $175,538,000 after purchasing an additional 145,328 shares during the period. Institutional investors own 84.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Benchmark raised their price objective on Texas Instruments from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Jefferies Financial Group cut shares of Texas Instruments from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $200.00 to $175.00 in a research report on Monday, May 13th. Barclays increased their price objective on shares of Texas Instruments from $150.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, May 20th. Oppenheimer reaffirmed a “market perform” rating on shares of Texas Instruments in a report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. increased their price target on shares of Texas Instruments from $180.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $183.90.

Texas Instruments Price Performance

Shares of NASDAQ:TXN traded down $3.63 during midday trading on Thursday, hitting $199.99. The stock had a trading volume of 5,541,339 shares, compared to its average volume of 5,467,876. The company’s 50-day moving average price is $194.90 and its 200-day moving average price is $177.25. Texas Instruments Incorporated has a fifty-two week low of $139.48 and a fifty-two week high of $206.00. The company has a quick ratio of 3.76, a current ratio of 4.91 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $182.09 billion, a P/E ratio of 31.20, a price-to-earnings-growth ratio of 4.36 and a beta of 0.99.

Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings data on Tuesday, April 23rd. The semiconductor company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.07 by $0.13. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.61 billion. Texas Instruments had a net margin of 35.16% and a return on equity of 35.28%. The company’s revenue was down 16.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.85 earnings per share. As a group, equities research analysts predict that Texas Instruments Incorporated will post 5.13 EPS for the current fiscal year.

Texas Instruments Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 21st. Investors of record on Wednesday, May 8th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 2.60%. The ex-dividend date was Tuesday, May 7th. Texas Instruments’s dividend payout ratio (DPR) is presently 81.12%.

Insiders Place Their Bets

In related news, Director Robert E. Sanchez sold 10,539 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $174.97, for a total value of $1,844,008.83. Following the completion of the transaction, the director now owns 20,461 shares of the company’s stock, valued at approximately $3,580,061.17. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Texas Instruments news, Director Robert E. Sanchez sold 10,539 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $174.97, for a total value of $1,844,008.83. Following the completion of the transaction, the director now owns 20,461 shares of the company’s stock, valued at approximately $3,580,061.17. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Richard K. Templeton sold 104,000 shares of Texas Instruments stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $175.83, for a total value of $18,286,320.00. Following the sale, the chairman now directly owns 403,851 shares in the company, valued at $71,009,121.33. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 328,969 shares of company stock valued at $58,427,984. 0.68% of the stock is currently owned by corporate insiders.

Texas Instruments Profile

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