Mechanics Financial Corp Sells 4,459 Shares of Texas Instruments Incorporated (NASDAQ:TXN)

Mechanics Financial Corp lowered its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 58.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,199 shares of the semiconductor company’s stock after selling 4,459 shares during the period. Mechanics Financial Corp’s holdings in Texas Instruments were worth $622,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. United Asset Strategies Inc. increased its stake in Texas Instruments by 11.0% during the 2nd quarter. United Asset Strategies Inc. now owns 8,225 shares of the semiconductor company’s stock valued at $1,600,000 after purchasing an additional 812 shares in the last quarter. FFT Wealth Management LLC increased its position in shares of Texas Instruments by 12.8% during the second quarter. FFT Wealth Management LLC now owns 1,965 shares of the semiconductor company’s stock valued at $382,000 after acquiring an additional 223 shares in the last quarter. Financial Counselors Inc. raised its holdings in Texas Instruments by 20.5% in the 2nd quarter. Financial Counselors Inc. now owns 9,495 shares of the semiconductor company’s stock worth $1,847,000 after acquiring an additional 1,613 shares during the last quarter. Natixis Advisors LLC lifted its position in Texas Instruments by 13.0% in the 2nd quarter. Natixis Advisors LLC now owns 573,487 shares of the semiconductor company’s stock valued at $111,560,000 after acquiring an additional 65,912 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in Texas Instruments during the 2nd quarter valued at $86,000. Institutional investors own 84.99% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Robert W. Baird lifted their price objective on Texas Instruments from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Rosenblatt Securities increased their price objective on shares of Texas Instruments from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Morgan Stanley raised their target price on shares of Texas Instruments from $150.00 to $156.00 and gave the stock an “underweight” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. boosted their target price on shares of Texas Instruments from $195.00 to $230.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Susquehanna upped their price objective on Texas Instruments from $205.00 to $250.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Texas Instruments presently has a consensus rating of “Hold” and an average target price of $204.67.

Texas Instruments Price Performance

NASDAQ TXN traded up $3.25 during trading hours on Monday, reaching $214.34. The company’s stock had a trading volume of 5,861,000 shares, compared to its average volume of 5,537,430. Texas Instruments Incorporated has a 1 year low of $139.48 and a 1 year high of $214.66. The firm’s 50-day moving average price is $199.51 and its 200-day moving average price is $186.26. The company has a quick ratio of 3.49, a current ratio of 4.62 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $195.70 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 4.66 and a beta of 0.99.

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

Texas Instruments Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Wednesday, July 31st were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend was Wednesday, July 31st. Texas Instruments’s payout ratio is 81.12%.

Insider Transactions at Texas Instruments

In other Texas Instruments news, CEO Haviv Ilan sold 1,200 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $209.44, for a total transaction of $251,328.00. Following the completion of the transaction, the chief executive officer now owns 158,676 shares in the company, valued at $33,233,101.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Julie C. Knecht sold 7,764 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $209.49, for a total transaction of $1,626,480.36. Following the transaction, the chief accounting officer now owns 11,806 shares of the company’s stock, valued at approximately $2,473,238.94. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Haviv Ilan sold 1,200 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $209.44, for a total transaction of $251,328.00. Following the completion of the sale, the chief executive officer now owns 158,676 shares of the company’s stock, valued at approximately $33,233,101.44. The disclosure for this sale can be found here. Insiders have sold 15,558 shares of company stock valued at $3,255,323 in the last ninety days. Corporate insiders own 0.68% of the company’s stock.

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.