Spinnaker Trust Reduces Position in Texas Instruments Incorporated (NASDAQ:TXN)

Spinnaker Trust lowered its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 3.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,831 shares of the semiconductor company’s stock after selling 1,908 shares during the quarter. Spinnaker Trust’s holdings in Texas Instruments were worth $10,707,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tsfg LLC raised its stake in shares of Texas Instruments by 82.0% during the 3rd quarter. Tsfg LLC now owns 182 shares of the semiconductor company’s stock worth $38,000 after buying an additional 82 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new position in Texas Instruments in the third quarter worth $43,000. Friedenthal Financial purchased a new stake in shares of Texas Instruments during the 2nd quarter worth $50,000. Beacon Capital Management LLC grew its stake in shares of Texas Instruments by 42.1% during the 1st quarter. Beacon Capital Management LLC now owns 331 shares of the semiconductor company’s stock worth $58,000 after purchasing an additional 98 shares during the period. Finally, Baldwin Brothers LLC MA increased its holdings in shares of Texas Instruments by 121.3% in the 2nd quarter. Baldwin Brothers LLC MA now owns 301 shares of the semiconductor company’s stock valued at $59,000 after purchasing an additional 165 shares in the last quarter. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TXN shares. KeyCorp lifted their price target on shares of Texas Instruments from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Robert W. Baird lowered their target price on Texas Instruments from $200.00 to $175.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. The Goldman Sachs Group boosted their price objective on shares of Texas Instruments from $157.00 to $176.00 and gave the stock a “sell” rating in a research report on Wednesday, July 24th. Mizuho set a $200.00 target price on shares of Texas Instruments in a report on Friday, October 18th. Finally, Benchmark reissued a “buy” rating and set a $230.00 price objective on shares of Texas Instruments in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $206.95.

Texas Instruments Stock Up 4.7 %

TXN traded up $9.55 on Wednesday, hitting $212.01. 1,180,984 shares of the company were exchanged, compared to its average volume of 5,459,647. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.14 and a current ratio of 4.31. The stock’s fifty day moving average is $203.55 and its 200-day moving average is $197.63. The company has a market cap of $193.40 billion, a PE ratio of 37.63, a PEG ratio of 4.45 and a beta of 0.99. Texas Instruments Incorporated has a 12 month low of $143.08 and a 12 month high of $214.66.

Texas Instruments (NASDAQ:TXN) last released its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.09. The company had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Texas Instruments had a return on equity of 29.05% and a net margin of 31.60%. The business’s revenue was down 8.4% on a year-over-year basis. During the same period last year, the firm posted $1.80 earnings per share. Equities research analysts predict that Texas Instruments Incorporated will post 5.08 EPS for the current fiscal year.

Texas Instruments Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Thursday, October 31st will be given a dividend of $1.36 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $5.44 dividend on an annualized basis and a yield of 2.57%. This is an increase from Texas Instruments’s previous quarterly dividend of $1.30. Texas Instruments’s dividend payout ratio is currently 101.12%.

Insiders Place Their Bets

In related news, CEO Haviv Ilan sold 1,200 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $209.44, for a total transaction of $251,328.00. Following the completion of the sale, the chief executive officer now directly owns 158,676 shares in the company, valued at $33,233,101.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Haviv Ilan sold 1,200 shares of Texas Instruments stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $209.44, for a total transaction of $251,328.00. Following the sale, the chief executive officer now directly owns 158,676 shares of the company’s stock, valued at approximately $33,233,101.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert E. Sanchez sold 9,990 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $208.80, for a total value of $2,085,912.00. Following the completion of the transaction, the director now directly owns 20,461 shares of the company’s stock, valued at $4,272,256.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,548 shares of company stock worth $5,341,235 over the last ninety days. Corporate insiders own 0.68% of the company’s stock.

Texas Instruments Profile

Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers in the United States and internationally. The company operates through Analog and Embedded Processing segments. The Analog segment offers power products to manage power requirements across various voltage levels, including battery-management solutions, DC/DC switching regulators, AC/DC and isolated controllers and converters, power switches, linear regulators, voltage references, and lighting products.