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

Eagle Asset Management Inc. cut its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 85.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund 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 at the end of the most recent reporting period.

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

Texas Instruments Stock Performance

NASDAQ TXN opened at $198.00 on Friday. The stock has a market capitalization of $180.62 billion, a price-to-earnings ratio of 36.80, a PEG ratio of 4.33 and a beta of 0.99. The company has a current ratio of 4.31, a quick ratio of 3.14 and a debt-to-equity ratio of 0.74. The business’s 50 day moving average is $204.45 and its two-hundred day moving average is $200.25. Texas Instruments Incorporated has a 12-month low of $151.27 and a 12-month high of $220.38.

Texas Instruments (NASDAQ:TXN) last announced its earnings results on Tuesday, October 22nd. The semiconductor company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.09. The firm 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%. Texas Instruments’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.80 EPS. Research analysts expect that Texas Instruments Incorporated will post 5.08 EPS for the current year.

Texas Instruments Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st were issued a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Thursday, October 31st. This is a boost from Texas Instruments’s previous quarterly dividend of $1.30. Texas Instruments’s dividend payout ratio is 101.12%.

Analyst Upgrades and Downgrades

Several analysts have commented on TXN shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $200.00 price objective on shares of Texas Instruments in a report on Wednesday, October 23rd. Robert W. Baird reduced their price objective on Texas Instruments from $200.00 to $175.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of Texas Instruments in a research report on Wednesday, October 23rd. Bank of America reduced their target price on Texas Instruments from $220.00 to $215.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Finally, Susquehanna dropped their price objective on Texas Instruments from $250.00 to $240.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $210.05.

Insider Buying and Selling at Texas Instruments

In other Texas Instruments news, VP Mohammad Yunus sold 3,778 shares of the 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 transaction, the vice president now owns 28,894 shares of the company’s stock, 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 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 transaction, the chief executive officer now directly owns 158,676 shares in the company, valued at approximately $33,233,101.44. This represents a 0.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,968 shares of company stock worth $3,126,464. 0.68% of the stock is owned by insiders.

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.