Cannon Financial Strategists Inc. Sells 82 Shares of Texas Instruments Incorporated (NASDAQ:TXN)

by · The Markets Daily

Cannon Financial Strategists Inc. lessened its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN – Free Report) by 5.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,355 shares of the semiconductor company’s stock after selling 82 shares during the period. Cannon Financial Strategists Inc.’s holdings in Texas Instruments were worth $280,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Texas Instruments by 0.6% during the first quarter. Vanguard Group Inc. now owns 90,572,576 shares of the semiconductor company’s stock worth $15,778,648,000 after buying an additional 536,206 shares in the last quarter. Capital Research Global Investors raised its position in shares of Texas Instruments by 4.7% in the 1st quarter. Capital Research Global Investors now owns 28,715,467 shares of the semiconductor company’s stock valued at $5,002,522,000 after buying an additional 1,279,828 shares in the last quarter. Legal & General Group Plc raised its position in shares of Texas Instruments by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 7,831,270 shares of the semiconductor company’s stock valued at $1,523,415,000 after buying an additional 64,067 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Texas Instruments by 6.2% in the 2nd quarter. Van ECK Associates Corp now owns 5,955,353 shares of the semiconductor company’s stock valued at $1,158,495,000 after buying an additional 348,528 shares in the last quarter. Finally, Fayez Sarofim & Co raised its position in shares of Texas Instruments by 2.5% in the 1st quarter. Fayez Sarofim & Co now owns 4,271,960 shares of the semiconductor company’s stock valued at $744,218,000 after buying an additional 104,806 shares in the last quarter. 84.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Texas Instruments news, VP Mohammad Yunus sold 3,778 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $208.90, for a total transaction of $789,224.20. Following the completion of the transaction, the vice president now owns 28,894 shares in the company, valued at $6,035,956.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, VP Shanon J. Leonard sold 2,816 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $208.91, for a total value of $588,290.56. Following the sale, the vice president now directly owns 24,112 shares of the company’s stock, valued at approximately $5,037,237.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Mohammad Yunus sold 3,778 shares of the stock in a transaction dated 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 approximately $6,035,956.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,558 shares of company stock worth $3,255,323 over the last quarter. 0.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TXN. KeyCorp boosted 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. Barclays boosted their target price on shares of Texas Instruments from $190.00 to $210.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Morgan Stanley raised their price target on shares of Texas Instruments from $150.00 to $156.00 and gave the company an “underweight” rating in a research note on Thursday, July 11th. Susquehanna decreased their price target on shares of Texas Instruments from $250.00 to $240.00 and set a “positive” rating on the stock in a report on Monday. Finally, Mizuho set a $200.00 price target on shares of Texas Instruments in a report on Friday. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $206.65.

Read Our Latest Report on TXN

Texas Instruments Stock Down 2.0 %

Shares of TXN stock traded down $4.02 on Monday, hitting $194.45. The stock had a trading volume of 1,520,573 shares, compared to its average volume of 5,427,582. The business has a 50 day moving average of $203.30 and a 200 day moving average of $194.56. The stock has a market cap of $177.54 billion, a price-to-earnings ratio of 34.23, a price-to-earnings-growth ratio of 4.32 and a beta of 0.98. 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 Incorporated has a 12-month low of $139.48 and a 12-month high of $214.66.

Texas Instruments (NASDAQ:TXN – Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.06. The company had revenue of $3.82 billion during 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 firm’s revenue for the quarter was down 15.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.87 earnings per share. As a group, analysts expect that Texas Instruments Incorporated will post 5.11 EPS for the current year.

Texas Instruments Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors 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 represents a $5.44 annualized dividend and a yield of 2.80%. This is a positive change from Texas Instruments’s previous quarterly dividend of $1.30. Texas Instruments’s dividend payout ratio is presently 90.28%.

About Texas Instruments

(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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