Destination Wealth Management Sells 116 Shares of Texas Instruments Incorporated (NASDAQ:TXN)

Destination Wealth Management trimmed its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 6.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,555 shares of the semiconductor company’s stock after selling 116 shares during the period. Destination Wealth Management’s holdings in Texas Instruments were worth $321,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp raised its stake in Texas Instruments by 0.9% during the 3rd quarter. State Street Corp now owns 41,679,234 shares of the semiconductor company’s stock valued at $8,609,679,000 after purchasing an additional 391,306 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Texas Instruments by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 21,286,790 shares of the semiconductor company’s stock worth $4,382,936,000 after purchasing an additional 487,892 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Texas Instruments by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 19,250,433 shares of the semiconductor company’s stock valued at $3,976,562,000 after buying an additional 782,053 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Texas Instruments by 0.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,060,213 shares of the semiconductor company’s stock valued at $1,664,998,000 after buying an additional 36,441 shares during the period. Finally, Legal & General Group Plc grew its position in Texas Instruments by 0.8% during the second quarter. Legal & General Group Plc now owns 7,831,270 shares of the semiconductor company’s stock worth $1,523,415,000 after buying an additional 64,067 shares in the last quarter. 84.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Susquehanna reduced their price objective on Texas Instruments from $250.00 to $240.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Citigroup raised Texas Instruments from a “neutral” rating to a “buy” rating and raised their target price for the stock from $200.00 to $235.00 in a research report on Wednesday, August 21st. Barclays lowered their price target on shares of Texas Instruments from $210.00 to $200.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Benchmark reaffirmed a “buy” rating and set a $230.00 price objective on shares of Texas Instruments in a report on Wednesday, October 23rd. Finally, Truist Financial decreased their target price on shares of Texas Instruments from $198.00 to $190.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Texas Instruments has an average rating of “Hold” and an average price target of $210.05.

Texas Instruments Stock Performance

Texas Instruments stock opened at $191.71 on Friday. The stock has a 50-day simple moving average of $202.35 and a 200 day simple moving average of $200.61. The stock has a market capitalization of $174.88 billion, a price-to-earnings ratio of 35.63, a P/E/G ratio of 4.19 and a beta of 0.97. 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 Incorporated has a 12-month low of $155.46 and a 12-month high of $220.38.

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

Texas Instruments Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st were given a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a yield of 2.84%. This is a positive change from Texas Instruments’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, October 31st. Texas Instruments’s dividend payout ratio (DPR) is presently 101.12%.

Insider Transactions at Texas Instruments

In other Texas Instruments news, Director Robert E. Sanchez sold 9,990 shares of Texas Instruments stock in a transaction on Friday, October 25th. The shares were sold at an average price of $208.80, for a total transaction of $2,085,912.00. Following the completion of the sale, the director now 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald Kirk sold 10,539 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $203.33, for a total transaction of $2,142,894.87. Following the sale, the director now owns 14,323 shares of the company’s stock, valued at $2,912,295.59. The trade was a 42.39 % decrease in their position. The disclosure for this sale can be found here. 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.