Foresight Capital Management Advisors Inc. has raised its stake in Texas Instruments Incorporated (NASDAQ: TXN) by 7.2% during the second quarter of 2023. This increase was disclosed in the firm’s recent Form 13F filing with the Securities and Exchange Commission. Following the acquisition of an additional 901 shares, Foresight now owns 13,465 shares of the semiconductor giant, which represents 1.6% of its total portfolio, ranking as its 28th largest position. The value of Foresight’s holdings in Texas Instruments stands at approximately $2,796,000.
Several other institutional investors have also adjusted their positions in Texas Instruments. For instance, Cloud Capital Management LLC initiated a new stake valued at around $28,000 in the first quarter, while Dagco Inc. invested approximately $32,000. CBIZ Investment Advisory Services LLC increased its holdings by 67.6%, bringing its total to 186 shares worth about $33,000. Other new investments include Quintet Private Bank Europe S.A., which entered with a stake valued at about $34,000, and N.E.W. Advisory Services LLC, whose investment amounted to $42,000. Overall, institutional investors and hedge funds control 84.99% of Texas Instruments’ stock.
Texas Instruments’ Stock Performance and Dividend Increase
On Tuesday, shares of Texas Instruments opened at $181.81. The stock has experienced significant volatility over the past year, with a low of $139.95 and a high of $221.69. The company boasts a market capitalization of $165.29 billion and displays a price-to-earnings ratio of 33.30. Texas Instruments also recently announced an increase in its quarterly dividend to $1.42 per share, up from the previous $1.36. This dividend will be paid on November 12, 2023, to shareholders on record as of October 31, 2023, resulting in an annualized dividend of $5.68 and a yield of 3.1%. The company’s current payout ratio stands at 104.03%.
Analysts have offered mixed ratings on Texas Instruments. Recent reports show that Bank of America has lowered its target price from $218.00 to $208.00 with a “neutral” rating, while Morgan Stanley reduced its target from $197.00 to $192.00 and assigned an “underweight” rating. Conversely, TD Cowen adjusted its price target from $245.00 to $230.00 while maintaining a “buy” recommendation. Overall, analysts have assigned an average target price of $213.82 to the stock, with a consensus rating of “hold” according to MarketBeat.
Recent Insider Transactions
In other developments, Ahmad Bahai, Vice President of Texas Instruments, sold 1,500 shares on August 25, 2023, at an average price of $205.35, totaling $308,025.00. Following this transaction, Bahai retains 38,883 shares in the company, valued at approximately $7,984,624.05. This sale represents a 3.71% decrease in his position. Corporate insiders currently hold 0.57% of the company’s stock.
Texas Instruments Incorporated specializes in the design, manufacture, and sale of semiconductors to electronics designers and manufacturers globally. The company operates primarily through its Analog and Embedded Processing segments, offering a variety of products to manage power needs across different voltage levels.
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