VELA Investment Management LLC Decreases Stake in Texas Instruments Incorporated (NASDAQ:TXN)

VELA Investment Management LLC trimmed its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 56.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,523 shares of the semiconductor company’s stock after selling 2,000 shares during the period. VELA Investment Management LLC’s holdings in Texas Instruments were worth $296,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TXN. Altus Wealth Group LLC acquired a new position in Texas Instruments during the 2nd quarter worth approximately $628,000. Columbia Asset Management grew its stake in shares of Texas Instruments by 25.5% during the second quarter. Columbia Asset Management now owns 1,723 shares of the semiconductor company’s stock worth $335,000 after purchasing an additional 350 shares in the last quarter. Bordeaux Wealth Advisors LLC grew its stake in shares of Texas Instruments by 5.1% during the second quarter. Bordeaux Wealth Advisors LLC now owns 1,677 shares of the semiconductor company’s stock worth $326,000 after purchasing an additional 82 shares in the last quarter. First Business Financial Services Inc. raised its stake in Texas Instruments by 6.8% in the second quarter. First Business Financial Services Inc. now owns 11,578 shares of the semiconductor company’s stock valued at $2,252,000 after buying an additional 734 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in Texas Instruments by 234.1% in the second quarter. National Bank of Canada FI now owns 742,268 shares of the semiconductor company’s stock valued at $144,423,000 after buying an additional 520,073 shares in the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.

Insider Activity at Texas Instruments

In other Texas Instruments news, VP Shanon J. Leonard sold 2,816 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $208.91, for a total value of $588,290.56. Following the completion of the transaction, the vice president now owns 24,112 shares in the company, valued at $5,037,237.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Julie C. Knecht sold 7,764 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $209.49, for a total value of $1,626,480.36. Following the completion of the transaction, the chief accounting officer now directly owns 11,806 shares of the company’s stock, valued at approximately $2,473,238.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Shanon J. Leonard sold 2,816 shares of Texas Instruments stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $208.91, for a total value of $588,290.56. Following the transaction, the vice president now directly owns 24,112 shares of the company’s stock, valued at $5,037,237.92. The disclosure for this sale can be found here. Insiders have sold a total of 15,558 shares of company stock worth $3,255,323 over the last three months. 0.68% of the stock is currently owned by corporate insiders.

Texas Instruments Stock Performance

Shares of TXN opened at $201.55 on Friday. The stock has a market capitalization of $183.51 billion, a P/E ratio of 31.44, a P/E/G ratio of 4.66 and a beta of 0.99. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.49 and a current ratio of 4.62. Texas Instruments Incorporated has a 1 year low of $139.48 and a 1 year high of $214.66. The company’s fifty day moving average is $200.44 and its two-hundred day moving average is $187.14.

Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06. The business had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.82 billion. Texas Instruments had a net margin of 33.01% and a return on equity of 31.10%. The business’s revenue was down 15.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.87 earnings per share. On average, sell-side analysts predict that Texas Instruments Incorporated will post 5.11 earnings per share for the current year.

Texas Instruments Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Wednesday, July 31st were issued a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $5.20 annualized dividend and a dividend yield of 2.58%. Texas Instruments’s dividend payout ratio is currently 81.12%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TXN. Morgan Stanley increased their price objective on Texas Instruments from $150.00 to $156.00 and gave the company an “underweight” rating in a report on Thursday, July 11th. Jefferies Financial Group raised their price objective on shares of Texas Instruments from $175.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Evercore ISI upped their target price on shares of Texas Instruments from $255.00 to $268.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Stifel Nicolaus lifted their price target on shares of Texas Instruments from $172.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Finally, Susquehanna upped their price objective on shares of Texas Instruments from $205.00 to $250.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $204.67.

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.