Hartford Funds Management Co LLC Acquires New Position in Texas Instruments Incorporated (NASDAQ:TXN)

Hartford Funds Management Co LLC acquired a new stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) during the third quarter, HoldingsChannel reports. The fund acquired 3,449 shares of the semiconductor company’s stock, valued at approximately $712,000.

A number of other large investors also recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new position in Texas Instruments in the 3rd quarter worth approximately $28,000. Tsfg LLC increased its stake in Texas Instruments by 82.0% in the 3rd quarter. Tsfg LLC now owns 182 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 82 shares during the period. Capital Performance Advisors LLP purchased a new position in Texas Instruments in the 3rd quarter worth approximately $39,000. McClarren Financial Advisors Inc. purchased a new position in Texas Instruments in the 3rd quarter worth approximately $43,000. Finally, Darwin Wealth Management LLC purchased a new position in Texas Instruments in the 3rd quarter worth approximately $45,000. 84.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TXN has been the topic of a number of analyst reports. Benchmark reaffirmed a “buy” rating and issued a $230.00 price target on shares of Texas Instruments in a research note on Wednesday, October 23rd. Wells Fargo & Company assumed coverage on Texas Instruments in a research note on Friday. They set an “equal weight” rating and a $215.00 target price on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $200.00 target price on shares of Texas Instruments in a research note 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 note on Wednesday, October 23rd. Finally, Summit Insights raised Texas Instruments from a “hold” rating to a “buy” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Texas Instruments has an average rating of “Hold” and an average price target of $210.05.

Texas Instruments Trading Down 0.1 %

Texas Instruments stock opened at $198.00 on Friday. 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 fifty day simple moving average is $204.45 and its two-hundred day simple moving average is $200.38. Texas Instruments Incorporated has a 12 month low of $151.27 and a 12 month high of $220.38. The company has a market capitalization of $180.62 billion, a price-to-earnings ratio of 36.80, a price-to-earnings-growth ratio of 4.33 and a beta of 0.99.

Texas Instruments (NASDAQ:TXN) last released its earnings results on Tuesday, October 22nd. The semiconductor company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.38 by $0.09. Texas Instruments had a return on equity of 29.05% and a net margin of 31.60%. The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the previous year, the company posted $1.80 earnings per share. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, equities analysts predict that Texas Instruments Incorporated will post 5.08 earnings per share for the current fiscal 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 $1.36 dividend. This represents a $5.44 annualized dividend and a yield of 2.75%. This is an increase from Texas Instruments’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, October 31st. Texas Instruments’s payout ratio is 101.12%.

Insiders Place Their Bets

In other Texas Instruments news, Director Robert E. Sanchez sold 9,990 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $208.80, for a total value of $2,085,912.00. Following the sale, the director now directly owns 20,461 shares of the company’s stock, valued at approximately $4,272,256.80. The trade was a 32.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Mohammad Yunus sold 3,778 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $208.90, for a total value of $789,224.20. Following the transaction, the vice president now directly owns 28,894 shares in the company, valued at approximately $6,035,956.60. The trade was a 11.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,968 shares of company stock valued at $3,126,464. 0.68% of the stock is currently owned by corporate insiders.

About Texas Instruments

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.