Summit Global Investments Sells 370 Shares of Texas Instruments Incorporated (NASDAQ:TXN)

Summit Global Investments lessened its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 4.3% during the 4th quarter, HoldingsChannel reports. The firm owned 8,215 shares of the semiconductor company’s stock after selling 370 shares during the period. Summit Global Investments’ holdings in Texas Instruments were worth $1,400,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Beacon Harbor Wealth Advisors Inc. bought a new position in Texas Instruments during the fourth quarter valued at $2,837,000. Benjamin Edwards Inc. increased its position in Texas Instruments by 1.2% during the fourth quarter. Benjamin Edwards Inc. now owns 7,779 shares of the semiconductor company’s stock valued at $1,326,000 after acquiring an additional 92 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Texas Instruments by 0.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 214,777 shares of the semiconductor company’s stock valued at $36,611,000 after acquiring an additional 959 shares during the last quarter. Fisher Asset Management LLC increased its position in Texas Instruments by 2.9% during the fourth quarter. Fisher Asset Management LLC now owns 214,321 shares of the semiconductor company’s stock valued at $36,533,000 after acquiring an additional 5,968 shares during the last quarter. Finally, LGT Group Foundation increased its position in Texas Instruments by 1.7% during the fourth quarter. LGT Group Foundation now owns 145,285 shares of the semiconductor company’s stock valued at $24,948,000 after acquiring an additional 2,496 shares during the last quarter. Institutional investors own 84.99% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Richard K. Templeton sold 104,000 shares of Texas Instruments stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $175.83, for a total transaction of $18,286,320.00. Following the completion of the transaction, the chairman now directly owns 403,851 shares of the company’s stock, valued at approximately $71,009,121.33. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Robert E. Sanchez sold 10,539 shares of Texas Instruments stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $174.97, for a total value of $1,844,008.83. Following the sale, the director now owns 20,461 shares of the company’s stock, valued at approximately $3,580,061.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard K. Templeton sold 104,000 shares of Texas Instruments stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $175.83, for a total transaction of $18,286,320.00. Following the completion of the sale, the chairman now directly owns 403,851 shares in the company, valued at approximately $71,009,121.33. The disclosure for this sale can be found here. In the last ninety days, insiders sold 228,529 shares of company stock valued at $40,502,458. 0.68% of the stock is owned by insiders.

Analysts Set New Price Targets

TXN has been the topic of several recent analyst reports. UBS Group raised shares of Texas Instruments from a “neutral” rating to a “buy” rating and raised their price target for the stock from $170.00 to $195.00 in a research note on Friday, January 19th. Mizuho raised their price target on shares of Texas Instruments from $164.00 to $170.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Robert W. Baird raised their price target on shares of Texas Instruments from $125.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Stifel Nicolaus raised their price target on shares of Texas Instruments from $160.00 to $172.00 and gave the stock a “hold” rating in a research note on Wednesday, April 24th. Finally, Truist Financial raised their price target on shares of Texas Instruments from $165.00 to $167.00 and gave the stock a “hold” rating in a research note on Wednesday, April 24th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $180.74.

Texas Instruments Stock Up 1.8 %

Shares of NASDAQ:TXN traded up $3.11 during trading on Friday, reaching $178.91. The stock had a trading volume of 4,545,090 shares, compared to its average volume of 6,059,944. Texas Instruments Incorporated has a one year low of $139.48 and a one year high of $188.12. The company has a market capitalization of $162.89 billion, a P/E ratio of 27.91, a PEG ratio of 3.75 and a beta of 1.01. The company has a current ratio of 4.91, a quick ratio of 3.76 and a debt-to-equity ratio of 0.76. The firm’s 50-day simple moving average is $170.37 and its 200 day simple moving average is $162.81.

Texas Instruments (NASDAQ:TXN) last released its earnings results on Tuesday, April 23rd. The semiconductor company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. Texas Instruments had a net margin of 35.16% and a return on equity of 35.28%. The company had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same period last year, the business earned $1.85 EPS. Texas Instruments’s revenue for the quarter was down 16.4% on a year-over-year basis. As a group, research analysts expect that Texas Instruments Incorporated will post 5.21 EPS for the current fiscal year.

Texas Instruments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 21st. Shareholders of record on Wednesday, May 8th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Tuesday, May 7th. Texas Instruments’s dividend payout ratio is presently 81.12%.

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.