Huntington National Bank Trims Stake in Texas Instruments Incorporated (NASDAQ:TXN)

Huntington National Bank reduced its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 0.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 252,465 shares of the semiconductor company’s stock after selling 888 shares during the period. Huntington National Bank’s holdings in Texas Instruments were worth $52,152,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ grew its stake in Texas Instruments by 4.3% during 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 in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Texas Instruments by 60.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 174,310 shares of the semiconductor company’s stock valued at $33,909,000 after purchasing an additional 65,512 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of 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 purchasing an additional 1,029,741 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Texas Instruments by 106.4% in the second quarter. GAMMA Investing LLC now owns 12,987 shares of the semiconductor company’s stock worth $2,526,000 after purchasing an additional 6,696 shares during the last quarter. Finally, Philip James Wealth Mangement LLC lifted its position in shares of Texas Instruments by 335.5% in the third quarter. Philip James Wealth Mangement LLC now owns 5,200 shares of the semiconductor company’s stock worth $1,074,000 after buying an additional 4,006 shares in the last quarter. 84.99% of the stock is owned by hedge funds and other institutional investors.

Texas Instruments Trading Down 3.3 %

TXN opened at $205.72 on Thursday. The stock’s fifty day moving average is $204.20 and its two-hundred day moving average is $199.21. The company has a market capitalization of $187.66 billion, a P/E ratio of 38.24, a PEG ratio of 4.65 and a beta of 0.99. Texas Instruments Incorporated has a 52 week low of $148.91 and a 52 week high of $220.38. The company has a quick ratio of 3.14, a current ratio of 4.31 and a debt-to-equity ratio of 0.74.

Texas Instruments (NASDAQ:TXN) last released its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.38 by $0.09. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.12 billion. Texas Instruments had a return on equity of 29.05% and a net margin of 31.60%. Texas Instruments’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period last year, the business posted $1.80 EPS. Analysts forecast that Texas Instruments Incorporated will post 5.08 earnings per share for the current year.

Texas Instruments Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Thursday, October 31st were issued a $1.36 dividend. The ex-dividend date was Thursday, October 31st. This is an increase 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 2.64%. Texas Instruments’s dividend payout ratio (DPR) is currently 101.12%.

Analysts Set New Price Targets

A number of research firms recently weighed in on TXN. Robert W. Baird cut their target price on shares of Texas Instruments from $200.00 to $175.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. The Goldman Sachs Group boosted their target price on shares of Texas Instruments from $157.00 to $176.00 and gave the stock a “sell” rating in a report on Wednesday, July 24th. Mizuho set a $200.00 price target on shares of Texas Instruments in a report on Friday, October 18th. Truist Financial lowered their price objective on Texas Instruments from $198.00 to $190.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. Finally, Stifel Nicolaus raised their price objective on Texas Instruments from $172.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Texas Instruments has an average rating of “Hold” and a consensus price target of $206.95.

Insider Activity

In other news, VP Shanon J. Leonard sold 2,816 shares of Texas Instruments 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 directly owns 24,112 shares in the company, valued at approximately $5,037,237.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Shanon J. Leonard sold 2,816 shares of Texas Instruments 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 directly owns 24,112 shares in the company, valued at approximately $5,037,237.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert E. Sanchez sold 9,990 shares of the firm’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 completion of the sale, the director now directly owns 20,461 shares of the company’s stock, valued at $4,272,256.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,548 shares of company stock worth $5,341,235. 0.68% of the stock is currently owned by company 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.