PNC Financial Services Group Inc. Decreases Position in Texas Instruments Incorporated (NASDAQ:TXN)

PNC Financial Services Group Inc. decreased its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,297,519 shares of the semiconductor company’s stock after selling 12,406 shares during the quarter. PNC Financial Services Group Inc. owned 0.14% of Texas Instruments worth $268,028,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TXN. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Texas Instruments by 4.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 234,232 shares of the semiconductor company’s stock worth $45,535,000 after purchasing an additional 9,608 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Texas Instruments by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 174,310 shares of the semiconductor company’s stock worth $33,909,000 after buying an additional 65,512 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Texas Instruments by 454.5% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,256,289 shares of the semiconductor company’s stock worth $244,386,000 after buying an additional 1,029,741 shares in the last quarter. GAMMA Investing LLC raised its position in Texas Instruments by 106.4% in the 2nd quarter. GAMMA Investing LLC now owns 12,987 shares of the semiconductor company’s stock worth $2,526,000 after buying an additional 6,696 shares during the last quarter. Finally, Philip James Wealth Mangement LLC lifted its stake in Texas Instruments by 335.5% during the 3rd quarter. Philip James Wealth Mangement LLC now owns 5,200 shares of the semiconductor company’s stock valued at $1,074,000 after acquiring an additional 4,006 shares during the period. Institutional investors own 84.99% of the company’s stock.

Texas Instruments Price Performance

Shares of Texas Instruments stock opened at $207.18 on Tuesday. The company has a market capitalization of $188.99 billion, a price-to-earnings ratio of 38.51, a PEG ratio of 4.40 and a beta of 0.99. 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 52 week low of $151.27 and a 52 week high of $220.38. The stock’s 50-day simple moving average is $204.51 and its 200-day simple moving average is $200.01.

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

Texas Instruments Increases Dividend

The firm also recently announced 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 of this dividend 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 2.63%. Texas Instruments’s payout ratio is 101.12%.

Insiders Place Their Bets

In related news, CEO Haviv Ilan sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $209.44, for a total transaction of $251,328.00. Following the completion of the sale, the chief executive officer now directly owns 158,676 shares of the company’s stock, valued at approximately $33,233,101.44. This trade represents a 0.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Julie C. Knecht sold 7,764 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $209.49, for a total transaction of $1,626,480.36. Following the sale, the chief accounting officer now directly owns 11,806 shares of the company’s stock, valued at $2,473,238.94. This represents a 39.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,548 shares of company stock valued at $5,341,235 over the last ninety days. 0.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TXN. Truist Financial decreased their price objective on shares of Texas Instruments from $198.00 to $190.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. KeyCorp increased their price target on Texas Instruments from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. 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 report on Wednesday, July 24th. Jefferies Financial Group increased their target price on Texas Instruments from $175.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised their target price on Texas Instruments from $195.00 to $230.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. 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.com, Texas Instruments currently has a consensus rating of “Hold” and a consensus price target of $206.95.

Texas Instruments Company 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.