Summit Global Investments Decreases Stake in Texas Instruments Incorporated (NASDAQ:TXN)

Summit Global Investments reduced its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,989 shares of the semiconductor company’s stock after selling 70 shares during the quarter. Summit Global Investments’ holdings in Texas Instruments were worth $561,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Assenagon Asset Management S.A. boosted its position in Texas Instruments by 948.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,794,646 shares of the semiconductor company’s stock worth $899,044,000 after purchasing an additional 4,337,295 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Texas Instruments by 11.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 21,487,468 shares of the semiconductor company’s stock worth $4,029,115,000 after buying an additional 2,237,035 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Texas Instruments in the fourth quarter worth about $295,665,000. Van ECK Associates Corp boosted its position in shares of Texas Instruments by 21.8% in the fourth quarter. Van ECK Associates Corp now owns 7,513,870 shares of the semiconductor company’s stock worth $1,408,925,000 after buying an additional 1,345,629 shares during the period. Finally, Amundi boosted its holdings in Texas Instruments by 23.4% in the 4th quarter. Amundi now owns 6,650,490 shares of the semiconductor company’s stock worth $1,274,633,000 after acquiring an additional 1,262,365 shares during the period. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Chairman Richard K. Templeton sold 97,000 shares of Texas Instruments stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $202.72, for a total transaction of $19,663,840.00. Following the sale, the chairman now directly owns 409,089 shares in the company, valued at $82,930,522.08. The trade was a 19.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Janet F. Clark sold 6,065 shares of Texas Instruments stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $203.62, for a total transaction of $1,234,955.30. Following the sale, the director now owns 10,816 shares in the company, valued at approximately $2,202,353.92. This represents a 35.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 297,655 shares of company stock valued at $59,841,304. Insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on TXN shares. Mizuho decreased their price target on Texas Instruments from $200.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, January 24th. Benchmark restated a “buy” rating and issued a $230.00 target price on shares of Texas Instruments in a research note on Friday, January 24th. Truist Financial decreased their price objective on shares of Texas Instruments from $199.00 to $195.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Wells Fargo & Company decreased their price objective on shares of Texas Instruments from $215.00 to $208.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $200.00 price target on shares of Texas Instruments in a report on Friday, January 24th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $209.20.

Texas Instruments Trading Down 0.9 %

Shares of NASDAQ TXN opened at $179.00 on Monday. The company has a market cap of $162.88 billion, a price-to-earnings ratio of 34.49, a price-to-earnings-growth ratio of 3.30 and a beta of 0.98. Texas Instruments Incorporated has a 12-month low of $159.11 and a 12-month high of $220.39. The company has a current ratio of 4.12, a quick ratio of 2.88 and a debt-to-equity ratio of 0.76. The stock’s 50 day simple moving average is $187.47 and its 200 day simple moving average is $195.27.

Texas Instruments (NASDAQ:TXN) last posted its earnings results on Thursday, January 23rd. The semiconductor company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.10. Texas Instruments had a return on equity of 28.08% and a net margin of 30.68%. During the same period in the previous year, the business earned $1.49 EPS. Equities research analysts expect that Texas Instruments Incorporated will post 5.35 EPS for the current year.

Texas Instruments Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Friday, January 31st were issued a dividend of $1.36 per share. The ex-dividend date was Friday, January 31st. This represents a $5.44 dividend on an annualized basis and a dividend yield of 3.04%. Texas Instruments’s dividend payout ratio (DPR) is presently 104.82%.

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.