Covington Capital Management held its position in Texas Instruments Incorporated (NASDAQ:TXN) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,904 shares of the semiconductor company’s stock at the end of the first quarter. Covington Capital Management’s holdings in Texas Instruments were worth $476,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. UMB Bank N A MO increased its stake in shares of Texas Instruments by 4.9% in the first quarter. UMB Bank N A MO now owns 326,697 shares of the semiconductor company’s stock worth $26,319,000 after buying an additional 15,401 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Texas Instruments by 0.9% in the first quarter. Rhumbline Advisers now owns 1,753,135 shares of the semiconductor company’s stock worth $141,233,000 after buying an additional 15,099 shares in the last quarter. 1st Global Advisors Inc. acquired a new stake in shares of Texas Instruments during the first quarter worth approximately $406,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Texas Instruments by 29.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 74,152 shares of the semiconductor company’s stock worth $5,974,000 after buying an additional 16,857 shares in the last quarter. Finally, American International Group Inc. increased its stake in shares of Texas Instruments by 1.6% in the first quarter. American International Group Inc. now owns 471,415 shares of the semiconductor company’s stock worth $37,977,000 after buying an additional 7,369 shares in the last quarter. 84.64% of the stock is owned by institutional investors.

Texas Instruments Incorporated (TXN) traded up 0.66% on Friday, hitting $80.89. The company had a trading volume of 3,426,144 shares. Texas Instruments Incorporated has a 12-month low of $66.30 and a 12-month high of $84.65. The firm’s 50 day moving average price is $80.24 and its 200 day moving average price is $79.66. The stock has a market cap of $80.08 billion, a P/E ratio of 20.23 and a beta of 1.21.

Texas Instruments (NASDAQ:TXN) last released its earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.07. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter last year, the company earned $0.76 earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis. Equities analysts predict that Texas Instruments Incorporated will post $4.13 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Thursday, July 27th. Texas Instruments’s payout ratio is presently 50.51%.

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TXN has been the subject of a number of recent analyst reports. Barclays PLC lowered their price objective on Texas Instruments from $78.00 to $83.00 in a research report on Wednesday, July 26th. Vetr downgraded Texas Instruments from a “strong-buy” rating to a “buy” rating and set a $89.16 price objective for the company. in a research report on Monday, April 24th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Texas Instruments in a research report on Wednesday, April 19th. BMO Capital Markets reaffirmed a “buy” rating and issued a $92.00 price objective on shares of Texas Instruments in a research report on Monday, April 17th. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $93.00 price objective on shares of Texas Instruments in a research report on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Texas Instruments currently has an average rating of “Buy” and an average price target of $85.96.

In related news, COO Brian T. Crutcher sold 50,000 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $81.09, for a total value of $4,054,500.00. Following the completion of the sale, the chief operating officer now owns 201,440 shares in the company, valued at $16,334,769.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Carrie Smith Cox sold 14,000 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $82.25, for a total transaction of $1,151,500.00. Following the completion of the sale, the director now owns 38,435 shares of the company’s stock, valued at approximately $3,161,278.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,905 shares of company stock valued at $7,398,219. 0.96% of the stock is owned by corporate insiders.

About Texas Instruments

Texas Instruments Incorporated designs, makes and sells semiconductors to electronics designers and manufacturers across the world. The Company operates through two segments: Analog and Embedded Processing. As of December 31, 2016, the Company had design, manufacturing or sales operations in more than 30 countries.

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Institutional Ownership by Quarter for Texas Instruments (NASDAQ:TXN)

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