Patten & Patten Inc. TN cut its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 18.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,872 shares of the semiconductor company’s stock after selling 21,133 shares during the quarter. Patten & Patten Inc. TN’s holdings in Texas Instruments were worth $8,776,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Highwater Wealth Management LLC purchased a new stake in shares of Texas Instruments during the 4th quarter worth $34,000. G&S Capital LLC lifted its position in Texas Instruments by 25.0% in the fourth quarter. G&S Capital LLC now owns 725 shares of the semiconductor company’s stock valued at $69,000 after acquiring an additional 145 shares during the last quarter. Legacy Financial Advisors Inc. lifted its position in Texas Instruments by 67.7% in the fourth quarter. Legacy Financial Advisors Inc. now owns 976 shares of the semiconductor company’s stock valued at $92,000 after acquiring an additional 394 shares during the last quarter. Centaurus Financial Inc. purchased a new stake in Texas Instruments in the second quarter valued at $101,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in Texas Instruments in the third quarter valued at $107,000. 84.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of Texas Instruments from a “sell” rating to a “hold” rating in a research note on Thursday, October 25th. BidaskClub lowered shares of Texas Instruments from a “hold” rating to a “sell” rating in a research note on Friday, January 25th. BMO Capital Markets restated a “buy” rating and issued a $120.00 price objective on shares of Texas Instruments in a research note on Thursday, January 24th. Sanford C. Bernstein reiterated a “buy” rating and set a $115.00 price target on shares of Texas Instruments in a research note on Wednesday, October 24th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $137.00 price target (down from $139.00) on shares of Texas Instruments in a research note on Thursday, January 24th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the stock. Texas Instruments has an average rating of “Hold” and a consensus price target of $108.74.
NASDAQ:TXN traded up $0.69 during trading hours on Friday, reaching $104.55. 5,077,858 shares of the company were exchanged, compared to its average volume of 7,105,904. Texas Instruments Incorporated has a 52-week low of $87.70 and a 52-week high of $118.48. The company has a market cap of $100.42 billion, a P/E ratio of 19.29, a P/E/G ratio of 1.98 and a beta of 1.17. The company has a quick ratio of 2.38, a current ratio of 3.27 and a debt-to-equity ratio of 0.48.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings results on Wednesday, January 23rd. The semiconductor company reported $1.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.03. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.75 billion. Texas Instruments had a net margin of 35.35% and a return on equity of 53.05%. The business’s revenue was down .9% on a year-over-year basis. During the same period last year, the business earned $1.09 EPS. Research analysts forecast that Texas Instruments Incorporated will post 5.21 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 11th. Shareholders of record on Thursday, January 31st will be paid a dividend of $0.77 per share. The ex-dividend date is Wednesday, January 30th. This represents a $3.08 dividend on an annualized basis and a yield of 2.95%. Texas Instruments’s dividend payout ratio (DPR) is 56.83%.
In related news, Director Pamela H. Patsley sold 7,000 shares of Texas Instruments stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $106.20, for a total value of $743,400.00. Following the sale, the director now directly owns 37,160 shares in the company, valued at approximately $3,946,392. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Haren Julie Van sold 3,953 shares of Texas Instruments stock in a transaction dated Monday, January 28th. The shares were sold at an average price of $101.88, for a total transaction of $402,731.64. Following the completion of the sale, the vice president now owns 30,523 shares in the company, valued at $3,109,683.24. The disclosure for this sale can be found here. Insiders have sold a total of 163,295 shares of company stock worth $16,651,930 over the last quarter. 0.84% of the stock is currently owned by insiders.
Texas Instruments Company Profile
Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. It operates in two segments, Analog and Embedded Processing. The Analog segment offers power products to manage power requirements in various levels using battery management solutions, portable components, power supply controls, point-of-load products, switches and interfaces, integrated protection devices, high-voltage products, and mobile lighting and display products.
See Also: How to Invest in Growth Stocks