Drive Wealth Management LLC Makes A New $215,000 Investment In Texas Instruments Incorporated (NASDAQ:TXN)

VaselineSeptember 2, 2024

0 4 minutes read

Drive Wealth Management LLC acquired a new stake in shares of Texas Instruments Incorporated (NASDAQ:TXN – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,104 shares of the semiconductor company’s stock, valued at approximately $215,000.

Several other institutional investors and hedge funds have also recently modified their positions in TXN. Richardson Financial Services Inc. purchased a new stake in shares of Texas Instruments in the fourth quarter valued at $26,000. Scarborough Advisors LLC acquired a new stake in Texas Instruments in the 4th quarter valued at about $26,000. Westend Capital Management LLC purchased a new position in Texas Instruments in the first quarter valued at about $31,000. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Texas Instruments in the fourth quarter valued at approximately $31,000. Finally, Norwood Financial Corp purchased a new stake in shares of Texas Instruments in the 1st quarter worth approximately $32,000. Institutional investors own 84.99% of the company’s shares.

Insider buying and selling at Texas Instruments

In related news, CAO Julie C. Knecht sold 7,764 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $209.49, for a total transaction of $1,626,480.36. Following the completion of the sale, the chief accounting officer now owns 11,806 shares of the company’s stock, valued at $2,473,238.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. In other Texas Instruments news, CAO Julie C. Knecht sold 7,764 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $209.49, for a total transaction of $1,626,480.36. Following the sale, the chief accounting officer now directly owns 11,806 shares in the company, valued at approximately $2,473,238.94. The sale was disclosed in a filing with the SEC, which is accessible through the SEC’s website. Also, VP Mohammad Yunus sold 3,778 shares of Texas Instruments stock in a transaction on Monday, August 26th. The stock was sold at an average price of $208.90, for a total value of $789,224.20. Following the completion of the sale, the vice president now directly owns 28,894 shares of the company’s stock, valued at approximately $6,035,956.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,558 shares of company stock worth $3,255,323. 0.68% of shares are held by corporate insiders.

Analysts on Wall Street are forecasting an increase

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A number of research firms recently weighed in on TXN. Evercore ISI boosted their target price on shares of Texas Instruments from $255.00 to $268.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Susquehanna boosted their price objective on Texas Instruments from $205.00 to $250.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. KeyCorp upped their target price on Texas Instruments from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Jefferies Financial Group boosted their price objective on shares of Texas Instruments from $175.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Finally, Truist Financial reduced their price target on shares of Texas Instruments from $203.00 to $198.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st . Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. Texas Instruments presently has an average rating of “Hold” and a consensus price target of $204.67, based on data from MarketBeat.

See the latest stock analysis on Texas Instruments

Texas Instruments trading rose 1.5%

NASDAQ:TXN opened at $214.34 on Monday. Texas Instruments Incorporated has a one year low of $139.48 and a one year high of $214.66. The company’s 50-day simple moving average is $199.51, and its 200-day simple moving average is $186.26. The firm has a market cap of $195.70 billion, a P/E ratio of 33.44, a PEG ratio of 4.66 and a beta of 0.99. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.62, and a quick ratio of 3.49.

Texas Instruments (NASDAQ:TXN – Get Your Free Report ) last posted its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.06. The company had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.82 billion. Texas Instruments had a return on equity of 31.10% and a net margin of 33.01%. The company’s quarterly revenue was down 15.6% compared to the same quarter last year. In the same quarter in the previous year, the business posted EPS of $1.87. As a group, analysts forecast that Texas Instruments Incorporated will post 5.11 EPS for the current fiscal year.

Texas Instruments Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Wednesday, July 31st were given a dividend of $1.30 per share. This represents an annualized dividend of $5.20 and a yield of 2.43%. The ex-dividend date was Wednesday, July 31. Texas Instruments’ dividend payout ratio (DPR) is 81.12%.

Texas Instruments profile

(Free report)

Texas Instruments Incorporated designs, manufactures and sells semiconductors to electronics designers and manufacturers in the United States and internationally. The company operates through the analog and embedded processing segments. The analog segment offers power products to handle power requirements at various voltage levels, including battery management solutions, DC/DC switching regulators, AC/DC and isolated controllers and converters, power switches, linear regulators, reference voltage and lighting products.