PNC Financial Services Group Inc. Has $182.29 Million Position in Texas Instruments Incorporated (NASDAQ:TXN)
PNC Financial Services Group Inc. decreased its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 25.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,435,731 shares of the semiconductor company’s stock after selling 490,569 shares during the period. PNC Financial Services Group Inc.’s holdings in Texas Instruments were worth $182,293,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Perennial Advisors LLC bought a new position in shares of Texas Instruments during the 1st quarter valued at approximately $26,000. Toth Financial Advisory Corp bought a new position in shares of Texas Instruments in the second quarter worth about $31,000. HHM Wealth Advisors LLC acquired a new position in shares of Texas Instruments during the 1st quarter worth about $34,000. Pathstone Family Office LLC boosted its stake in Texas Instruments by 65.0% during the 1st quarter. Pathstone Family Office LLC now owns 353 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 139 shares during the period. Finally, Evolution Wealth Advisors LLC grew its holdings in Texas Instruments by 89.7% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 277 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 131 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.
A number of equities analysts recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of Texas Instruments from $150.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. Jefferies Financial Group upped their price objective on shares of Texas Instruments from $136.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. UBS Group boosted their price target on Texas Instruments from $130.00 to $131.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Royal Bank of Canada raised their price objective on Texas Instruments from $125.00 to $140.00 in a research report on Wednesday, July 22nd. Finally, Barclays upped their target price on Texas Instruments from $105.00 to $120.00 and gave the company an “underweight” rating in a research note on Monday, July 20th. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $134.00.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, July 21st. The semiconductor company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.60. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $2.96 billion. Texas Instruments had a return on equity of 60.61% and a net margin of 36.83%. During the same period in the previous year, the company posted $1.36 earnings per share. Sell-side analysts forecast that Texas Instruments Incorporated will post 5.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, July 31st were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Thursday, July 30th. Texas Instruments’s dividend payout ratio (DPR) is currently 68.70%.
In related news, Director Jean M. Hobby sold 1,500 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $130.55, for a total transaction of $195,825.00. Following the sale, the director now owns 4,391 shares in the company, valued at $573,245.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Kyle M. Flessner sold 26,350 shares of the stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $131.59, for a total value of $3,467,396.50. Following the transaction, the vice president now directly owns 79,424 shares of the company’s stock, valued at $10,451,404.16. The disclosure for this sale can be found here. Insiders have sold a total of 236,495 shares of company stock valued at $31,419,345 over the last ninety days. Company insiders own 0.73% of the company’s stock.
Texas Instruments Company Profile
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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