VELA Investment Management LLC Cuts Position in Texas Instruments Incorporated (NASDAQ:TXN)

VELA Investment Management LLC lowered its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 56.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,523 shares of the semiconductor company’s stock after selling 2,000 shares during the quarter. VELA Investment Management LLC’s holdings in Texas Instruments were worth $296,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Altus Wealth Group LLC purchased a new position in shares of Texas Instruments during the 2nd quarter valued at approximately $628,000. Columbia Asset Management raised its position in Texas Instruments by 25.5% during the second quarter. Columbia Asset Management now owns 1,723 shares of the semiconductor company’s stock worth $335,000 after acquiring an additional 350 shares during the period. Bordeaux Wealth Advisors LLC lifted its holdings in Texas Instruments by 5.1% during the second quarter. Bordeaux Wealth Advisors LLC now owns 1,677 shares of the semiconductor company’s stock valued at $326,000 after purchasing an additional 82 shares in the last quarter. First Business Financial Services Inc. grew its position in shares of Texas Instruments by 6.8% in the second quarter. First Business Financial Services Inc. now owns 11,578 shares of the semiconductor company’s stock valued at $2,252,000 after purchasing an additional 734 shares during the period. Finally, National Bank of Canada FI grew its position in shares of Texas Instruments by 234.1% in the second quarter. National Bank of Canada FI now owns 742,268 shares of the semiconductor company’s stock valued at $144,423,000 after purchasing an additional 520,073 shares during the period. 84.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on TXN. Benchmark reaffirmed a “buy” rating and issued a $230.00 price target on shares of Texas Instruments in a research note on Wednesday, July 24th. Evercore ISI raised their target price on Texas Instruments from $255.00 to $268.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Barclays boosted their price target on Texas Instruments from $190.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their price objective on Texas Instruments from $160.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Finally, Wells Fargo & Company assumed coverage on shares of Texas Instruments in a report on Thursday, May 16th. They set an “underweight” rating and a $150.00 target price for the company. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $204.67.

Texas Instruments Trading Down 1.2 %

TXN opened at $201.55 on Friday. The business’s 50 day moving average price is $200.44 and its 200 day moving average price is $187.14. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.49 and a current ratio of 4.62. The stock has a market capitalization of $183.51 billion, a PE ratio of 31.44, a P/E/G ratio of 4.66 and a beta of 0.99. Texas Instruments Incorporated has a one year low of $139.48 and a one year high of $214.66.

Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.16 by $0.06. The business had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.82 billion. Texas Instruments had a return on equity of 31.10% and a net margin of 33.01%. The company’s quarterly revenue was down 15.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.87 EPS. As a group, equities research analysts expect that Texas Instruments Incorporated will post 5.11 EPS for the current year.

Texas Instruments Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Wednesday, July 31st were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Wednesday, July 31st. Texas Instruments’s dividend payout ratio (DPR) is 81.12%.

Insider Transactions at Texas Instruments

In other Texas Instruments news, CAO Julie C. Knecht sold 7,764 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $209.49, for a total value of $1,626,480.36. Following the sale, the chief accounting officer now owns 11,806 shares of the company’s stock, valued at $2,473,238.94. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Texas Instruments news, CAO Julie C. Knecht sold 7,764 shares of Texas Instruments stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $209.49, for a total value of $1,626,480.36. Following the completion of the transaction, the chief accounting officer now directly owns 11,806 shares of the company’s stock, valued at approximately $2,473,238.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Shanon J. Leonard sold 2,816 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $208.91, for a total transaction of $588,290.56. Following the sale, the vice president now directly owns 24,112 shares in the company, valued at approximately $5,037,237.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,558 shares of company stock worth $3,255,323. 0.68% 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 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.