Synovus Financial Corp Sells 398 Shares of Texas Instruments Incorporated (NASDAQ:TXN)

Synovus Financial Corp cut its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 0.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,320 shares of the semiconductor company’s stock after selling 398 shares during the period. Synovus Financial Corp’s holdings in Texas Instruments were worth $10,602,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Gradient Investments LLC lifted its stake in Texas Instruments by 42.3% in the 2nd quarter. Gradient Investments LLC now owns 555 shares of the semiconductor company’s stock valued at $108,000 after purchasing an additional 165 shares during the last quarter. TCW Group Inc. lifted its stake in shares of Texas Instruments by 212.9% in the 2nd quarter. TCW Group Inc. now owns 38,251 shares of the semiconductor company’s stock valued at $7,441,000 after acquiring an additional 26,025 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Texas Instruments by 1.3% during the 2nd quarter. Raymond James & Associates now owns 1,578,823 shares of the semiconductor company’s stock valued at $307,128,000 after acquiring an additional 19,511 shares in the last quarter. Williams Financial LLC acquired a new stake in shares of Texas Instruments during the 2nd quarter valued at $472,000. Finally, Stokes Capital Advisors LLC grew its position in Texas Instruments by 0.9% during the 2nd quarter. Stokes Capital Advisors LLC now owns 42,363 shares of the semiconductor company’s stock worth $8,241,000 after acquiring an additional 368 shares during the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TXN. Mizuho set a $200.00 price target on Texas Instruments in a research note on Friday, October 18th. Citigroup upgraded shares of Texas Instruments from a “neutral” rating to a “buy” rating and raised their price objective for the company from $200.00 to $235.00 in a report on Wednesday, August 21st. Wells Fargo & Company assumed coverage on shares of Texas Instruments in a report on Friday, November 22nd. They set an “equal weight” rating and a $215.00 target price on the stock. Barclays dropped their price target on shares of Texas Instruments from $210.00 to $200.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Finally, Robert W. Baird reduced their price objective on shares of Texas Instruments from $200.00 to $175.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $210.05.

Insiders Place Their Bets

In other news, Director Ronald Kirk sold 10,539 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $203.33, for a total transaction of $2,142,894.87. Following the completion of the sale, the director now directly owns 14,323 shares of the company’s stock, valued at $2,912,295.59. The trade was a 42.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert E. Sanchez sold 9,990 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $208.80, for a total transaction of $2,085,912.00. Following the completion of the transaction, the director now directly owns 20,461 shares in the company, valued at approximately $4,272,256.80. The trade was a 32.81 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

Texas Instruments Stock Performance

Shares of TXN stock opened at $191.59 on Friday. The company has a quick ratio of 3.14, a current ratio of 4.31 and a debt-to-equity ratio of 0.74. Texas Instruments Incorporated has a 52 week low of $155.46 and a 52 week high of $220.38. The firm has a 50 day moving average of $202.13 and a 200-day moving average of $200.56. The company has a market cap of $174.77 billion, a price-to-earnings ratio of 35.61, a price-to-earnings-growth ratio of 4.19 and a beta of 0.97.

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

Texas Instruments Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Thursday, October 31st were paid a dividend of $1.36 per share. This is an increase from Texas Instruments’s previous quarterly dividend of $1.30. This represents a $5.44 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend was Thursday, October 31st. Texas Instruments’s dividend payout ratio is 101.12%.

Texas Instruments Company 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.