Weaver Capital Management LLC Boosts Stake in Texas Instruments Incorporated (NASDAQ:TXN)

by · The Cerbat Gem

Weaver Capital Management LLC raised its position in shares of Texas Instruments Incorporated (NASDAQ:TXN – Free Report) by 100.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,186 shares of the semiconductor company’s stock after purchasing an additional 2,102 shares during the quarter. Weaver Capital Management LLC’s holdings in Texas Instruments were worth $865,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of TXN. Skandinaviska Enskilda Banken AB publ lifted its holdings in Texas Instruments by 4.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 234,232 shares of the semiconductor company’s stock valued at $45,535,000 after acquiring an additional 9,608 shares during the period. Nordea Investment Management AB lifted its stake in shares of Texas Instruments by 16.9% in the 1st quarter. Nordea Investment Management AB now owns 1,005,547 shares of the semiconductor company’s stock valued at $175,538,000 after purchasing an additional 145,328 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Texas Instruments by 60.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 174,310 shares of the semiconductor company’s stock worth $33,909,000 after buying an additional 65,512 shares in the last quarter. Advisors Capital Management LLC boosted its holdings in Texas Instruments by 185.7% during the first quarter. Advisors Capital Management LLC now owns 316,421 shares of the semiconductor company’s stock worth $55,124,000 after buying an additional 205,676 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Texas Instruments by 454.5% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,256,289 shares of the semiconductor company’s stock valued at $244,386,000 after buying an additional 1,029,741 shares during the period. Institutional investors and hedge funds own 84.99% of the company’s stock.

Insider Activity

In related news, VP Shanon J. Leonard sold 2,816 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $208.91, for a total transaction of $588,290.56. Following the completion of the transaction, the vice president now owns 24,112 shares of the company’s stock, valued at approximately $5,037,237.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related 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 transaction, the vice president now owns 24,112 shares of the company’s stock, valued at $5,037,237.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Mohammad Yunus sold 3,778 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $208.90, for a total value of $789,224.20. Following the sale, the vice president now directly owns 28,894 shares in the company, valued at $6,035,956.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,558 shares of company stock valued at $3,255,323. Company insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TXN. Cantor Fitzgerald cut their price target on Texas Instruments from $210.00 to $200.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. Jefferies Financial Group lifted their price target on shares of Texas Instruments from $175.00 to $185.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Mizuho set a $200.00 price objective on shares of Texas Instruments in a research report on Friday, October 18th. KeyCorp lifted their target price 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. Finally, Benchmark restated a “buy” rating and set a $230.00 price target on shares of Texas Instruments in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $205.95.

Read Our Latest Research Report on TXN

Texas Instruments Stock Down 0.9 %

Shares of NASDAQ TXN opened at $193.97 on Wednesday. Texas Instruments Incorporated has a 1 year low of $139.48 and a 1 year high of $214.66. The company has a market capitalization of $177.10 billion, a P/E ratio of 33.68, a P/E/G ratio of 4.32 and a beta of 0.98. The company has a 50 day simple moving average of $203.31 and a 200-day simple moving average of $194.94. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.62 and a quick ratio of 3.49.

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

Texas Instruments Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st will be given a dividend of $1.36 per share. The ex-dividend date is Thursday, October 31st. This is a boost from Texas Instruments’s previous quarterly dividend of $1.30. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.80%. Texas Instruments’s dividend payout ratio (DPR) is currently 90.28%.

Texas Instruments Company Profile

(Free Report)

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.

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