Washington Trust Bank Invests $350,000 in Texas Instruments Incorporated (NASDAQ:TXN)

Washington Trust Bank acquired a new position in Texas Instruments Incorporated (NASDAQ:TXN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,693 shares of the semiconductor company’s stock, valued at approximately $350,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tsfg LLC boosted its stake in shares of Texas Instruments by 82.0% in the 3rd quarter. Tsfg LLC now owns 182 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 82 shares during the last quarter. McClarren Financial Advisors Inc. bought a new position in Texas Instruments in the third quarter valued at approximately $43,000. Friedenthal Financial acquired a new stake in Texas Instruments during the 2nd quarter worth $50,000. Beacon Capital Management LLC raised its position in shares of Texas Instruments by 42.1% during the 1st quarter. Beacon Capital Management LLC now owns 331 shares of the semiconductor company’s stock valued at $58,000 after acquiring an additional 98 shares during the last quarter. Finally, Baldwin Brothers LLC MA raised its position in shares of Texas Instruments by 121.3% during the 2nd quarter. Baldwin Brothers LLC MA now owns 301 shares of the semiconductor company’s stock valued at $59,000 after acquiring an additional 165 shares during the last quarter. 84.99% of the stock is owned by institutional investors.

Texas Instruments Stock Performance

NASDAQ TXN traded up $2.14 during trading on Thursday, hitting $217.11. 304,133 shares of the company’s stock traded hands, compared to its average volume of 5,468,769. The stock has a market capitalization of $198.05 billion, a price-to-earnings ratio of 39.96, a PEG ratio of 4.45 and a beta of 0.99. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.14 and a current ratio of 4.31. The business has a 50 day moving average of $203.70 and a 200-day moving average of $197.75. Texas Instruments Incorporated has a 12-month low of $143.08 and a 12-month high of $217.38.

Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.09. Texas Instruments had a net margin of 31.60% and a return on equity of 29.05%. The company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same period in the prior year, the company posted $1.80 EPS. Texas Instruments’s revenue was down 8.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Texas Instruments Incorporated will post 5.08 earnings per share for the current fiscal year.

Texas Instruments Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Thursday, October 31st will be given a $1.36 dividend. The ex-dividend date is Thursday, October 31st. This is a boost from Texas Instruments’s previous quarterly dividend of $1.30. This represents a $5.44 annualized dividend and a dividend yield of 2.51%. Texas Instruments’s payout ratio is 101.12%.

Insider Activity

In related news, CEO Haviv Ilan sold 1,200 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $33,233,101.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Texas Instruments news, VP Shanon J. Leonard sold 2,816 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $208.91, for a total value of $588,290.56. Following the sale, the vice president now owns 24,112 shares of the company’s stock, valued at $5,037,237.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Haviv Ilan sold 1,200 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $209.44, for a total value of $251,328.00. Following the transaction, the chief executive officer now directly owns 158,676 shares of the company’s stock, valued at $33,233,101.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,548 shares of company stock worth $5,341,235 over the last ninety days. Company insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

TXN has been the subject of a number of analyst reports. The Goldman Sachs Group lifted their price objective on Texas Instruments from $157.00 to $176.00 and gave the stock a “sell” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their price target on Texas Instruments from $195.00 to $230.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Robert W. Baird cut their target price on shares of Texas Instruments from $200.00 to $175.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Mizuho set a $200.00 price objective on Texas Instruments in a report on Friday, October 18th. Finally, Bank of America dropped their target price on shares of Texas Instruments from $220.00 to $215.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $206.95.

Texas Instruments Profile

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.