Covington Investment Advisors Inc. Has $12.81 Million Position in Texas Instruments Incorporated (NASDAQ:TXN)

Covington Investment Advisors Inc. lifted its position in Texas Instruments Incorporated (NASDAQ:TXN) by 0.7% during the third quarter, HoldingsChannel.com reports. The fund owned 62,028 shares of the semiconductor company’s stock after purchasing an additional 430 shares during the period. Texas Instruments makes up approximately 1.9% of Covington Investment Advisors Inc.’s investment portfolio, making the stock its 20th biggest holding. Covington Investment Advisors Inc.’s holdings in Texas Instruments were worth $12,813,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of TXN. MidAtlantic Capital Management Inc. bought a new stake in shares of Texas Instruments in the third quarter worth about $28,000. Tsfg LLC grew its position in shares of Texas Instruments by 82.0% in the 3rd quarter. Tsfg LLC now owns 182 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 82 shares during the period. Capital Performance Advisors LLP bought a new stake in Texas Instruments during the 3rd quarter worth approximately $39,000. McClarren Financial Advisors Inc. acquired a new stake in Texas Instruments during the 3rd quarter worth approximately $43,000. Finally, Darwin Wealth Management LLC bought a new position in Texas Instruments in the third quarter valued at approximately $45,000. Institutional investors own 84.99% of the company’s stock.

Texas Instruments Trading Up 2.5 %

Texas Instruments stock opened at $202.93 on Tuesday. The stock has a 50-day simple moving average of $204.54 and a 200 day simple moving average of $200.61. The stock has a market capitalization of $185.12 billion, a P/E ratio of 37.72, a PEG ratio of 4.33 and a beta of 0.99. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.14 and a current ratio of 4.31. Texas Instruments Incorporated has a 52 week low of $151.27 and a 52 week high of $220.38.

Texas Instruments (NASDAQ:TXN) last issued its earnings results on Tuesday, October 22nd. The semiconductor company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.38 by $0.09. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.12 billion. Texas Instruments had a return on equity of 29.05% and a net margin of 31.60%. During the same period in the previous year, the company posted $1.80 EPS. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. Analysts expect that Texas Instruments Incorporated will post 5.08 earnings per share for the current year.

Texas Instruments Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Thursday, October 31st were given a $1.36 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This is a positive change from Texas Instruments’s previous quarterly dividend of $1.30. This represents a $5.44 annualized dividend and a dividend yield of 2.68%. Texas Instruments’s dividend payout ratio is presently 101.12%.

Insider Transactions at Texas Instruments

In other Texas Instruments news, Director Robert E. Sanchez sold 9,990 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $208.80, for a total value of $2,085,912.00. Following the transaction, the director now directly owns 20,461 shares of the company’s stock, valued at $4,272,256.80. This represents a 32.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on TXN. Mizuho set a $200.00 price objective on shares of Texas Instruments in a research report on Friday, October 18th. Truist Financial reduced their target price on shares of Texas Instruments from $198.00 to $190.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. Summit Insights raised Texas Instruments from a “hold” rating to a “buy” rating in a research note on Wednesday, October 23rd. Barclays reduced their price objective on Texas Instruments from $210.00 to $200.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Finally, Susquehanna dropped their target price on Texas Instruments from $250.00 to $240.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $210.05.

Texas Instruments Company 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.