Journey Advisory Group Reduces Texas Instruments Holdings by 12.9%

Journey Advisory Group LLC has announced a reduction in its holdings of Texas Instruments Incorporated (NASDAQ: TXN) by 12.9% during the second quarter of 2023. According to a recent filing with the U.S. Securities and Exchange Commission (SEC), the institutional investor now owns 1,965 shares of the semiconductor firm, having sold 290 shares during this period. The value of Journey Advisory Group’s remaining stake in Texas Instruments is approximately $408,000.

This divestment coincides with activity from other institutional investors and hedge funds regarding Texas Instruments’ stock. Brighton Jones LLC increased its stake by 33.4% in the fourth quarter, now holding 16,840 shares valued at $3,158,000 after acquiring an additional 4,218 shares. Similarly, GAMMA Investing LLC raised its holdings by 21.8% in the first quarter, bringing its total to 19,043 shares valued at $3,422,000.

Palumbo Wealth Management LLC also reported a significant increase, raising its holdings by 42.5% to 1,620 shares, worth $291,000. Other firms, such as Stiles Financial Services Inc. and Oppenheimer & Co. Inc., also expanded their positions in Texas Instruments, indicating strong interest in the company’s stock. Notably, 84.99% of Texas Instruments’ stock is now owned by institutional investors.

Texas Instruments Stock Performance

As of Tuesday, shares of Texas Instruments opened at $179.59. The stock has recently shown a 50-day simple moving average of $187.17 and a 200-day simple moving average of $185.96. The company maintains a market capitalization of $163.27 billion and a PE ratio of 32.89, reflecting its financial stability. Texas Instruments has experienced a one-year low of $139.95 and a one-year high of $221.69.

In a recent announcement, Texas Instruments declared a quarterly dividend of $1.42 per share, which will be paid on November 12, 2023. Shareholders on record as of October 31, 2023, will receive this dividend, marking an increase from the previous quarterly dividend of $1.36. The dividend yield stands at 3.2%, with a payout ratio of 99.63%, indicating a strong commitment to returning value to shareholders.

Insider Activity and Analyst Ratings

In related news, Vice President Ahmad Bahai sold 1,500 shares of Texas Instruments on August 25, 2023, at an average price of $205.35, totaling $308,025. Following this transaction, Bahai holds 38,883 shares valued at approximately $7,984,624.05, reflecting a 3.71% decrease in his position. Company insiders control 0.57% of Texas Instruments’ stock.

Several analysts have revised their price targets for Texas Instruments recently. Morgan Stanley lowered its target from $197.00 to $192.00, assigning an “underweight” rating. In contrast, Truist Financial increased its target from $171.00 to $196.00 with a “hold” rating. The Goldman Sachs Group initiated coverage with a “buy” rating and a price objective of $255.00. Conversely, BNP Paribas downgraded its rating to “strong sell”.

Currently, the stock has received mixed reviews: two analysts rated it as “strong buy,” twelve as “buy,” twelve as “hold,” and six as “sell.” The average rating stands at “hold” with a target price of $209.47, according to MarketBeat.com.

Texas Instruments Incorporated continues to be a significant player in the semiconductor industry, designing, manufacturing, and selling semiconductors to electronics designers and manufacturers globally. The company’s operations are divided into two primary segments: Analog and Embedded Processing, which provide essential power management and processing solutions to various applications.