Eagle Asset Management Inc. Decreases Position in Texas Instruments Incorporated (NASDAQ:TXN)

Eagle Asset Management Inc. lessened its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 85.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,941 shares of the semiconductor company’s stock after selling 583,705 shares during the quarter. Eagle Asset Management Inc.’s holdings in Texas Instruments were worth $22,236,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new stake in shares of Texas Instruments during the 3rd quarter valued at about $28,000. Tsfg LLC lifted its position in Texas Instruments by 82.0% during the third quarter. Tsfg LLC now owns 182 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 82 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Texas Instruments in the 3rd quarter worth about $39,000. McClarren Financial Advisors Inc. purchased a new position in shares of Texas Instruments in the 3rd quarter worth about $43,000. Finally, Darwin Wealth Management LLC purchased a new position in shares of Texas Instruments in the 3rd quarter worth about $45,000. 84.99% of the stock is owned by institutional investors.

Texas Instruments Stock Down 0.1 %

NASDAQ TXN opened at $198.00 on Friday. The stock’s 50 day moving average is $204.45 and its 200 day moving average is $200.25. The company has a current ratio of 4.31, a quick ratio of 3.14 and a debt-to-equity ratio of 0.74. Texas Instruments Incorporated has a 12 month low of $151.27 and a 12 month high of $220.38. The stock has a market cap of $180.62 billion, a PE ratio of 36.80, a P/E/G ratio of 4.33 and a beta of 0.99.

Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.09. The business had revenue of $4.15 billion for 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 company’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.80 EPS. 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 announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Thursday, October 31st were given a dividend of $1.36 per share. The ex-dividend date was Thursday, October 31st. This represents a $5.44 annualized dividend and a dividend yield of 2.75%. This is an increase from Texas Instruments’s previous quarterly dividend of $1.30. Texas Instruments’s payout ratio is currently 101.12%.

Analysts Set New Price Targets

TXN has been the subject of several recent analyst reports. Bank of America lowered their price target on Texas Instruments from $220.00 to $215.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Wells Fargo & Company initiated coverage on Texas Instruments in a report on Friday. They issued an “equal weight” rating and a $215.00 price objective for the company. Mizuho set a $200.00 price objective on Texas Instruments in a report on Friday, October 18th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price objective on shares of Texas Instruments in a report on Wednesday, October 23rd. Finally, Truist Financial reduced their price objective on Texas Instruments from $198.00 to $190.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $210.05.

Insider Activity

In related news, VP Mohammad Yunus sold 3,778 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $208.90, for a total transaction of $789,224.20. Following the completion of the sale, the vice president now directly owns 28,894 shares in the company, valued at $6,035,956.60. This represents a 11.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 value of $251,328.00. Following the sale, the chief executive officer now owns 158,676 shares of the company’s stock, valued at $33,233,101.44. This trade represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,968 shares of company stock valued at $3,126,464. 0.68% of the stock is currently owned by insiders.

About Texas Instruments

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.