Viking Fund Management LLC Sells 3,000 Shares of Texas Instruments Incorporated (NASDAQ:TXN)

Viking Fund Management LLC cut its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 6.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,000 shares of the semiconductor company’s stock after selling 3,000 shares during the quarter. Texas Instruments comprises approximately 1.4% of Viking Fund Management LLC’s holdings, making the stock its 25th largest holding. Viking Fund Management LLC’s holdings in Texas Instruments were worth $8,469,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of TXN. Vanguard Group Inc. lifted its stake in shares of Texas Instruments by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 90,572,576 shares of the semiconductor company’s stock worth $15,778,648,000 after acquiring an additional 536,206 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Texas Instruments by 4.7% during the first quarter. Capital Research Global Investors now owns 28,715,467 shares of the semiconductor company’s stock valued at $5,002,522,000 after purchasing an additional 1,279,828 shares during the period. Legal & General Group Plc boosted its stake in shares of 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 valued at $1,523,415,000 after purchasing an additional 64,067 shares during the period. Van ECK Associates Corp grew its holdings in shares of Texas Instruments by 6.2% in the second quarter. Van ECK Associates Corp now owns 5,955,353 shares of the semiconductor company’s stock worth $1,158,495,000 after purchasing an additional 348,528 shares during the last quarter. Finally, Fayez Sarofim & Co increased its stake in Texas Instruments by 2.5% in the 1st quarter. Fayez Sarofim & Co now owns 4,271,960 shares of the semiconductor company’s stock worth $744,218,000 after buying an additional 104,806 shares during the period. 84.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, 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 value of $1,626,480.36. Following the completion of the transaction, the chief accounting officer now directly owns 11,806 shares in the company, valued at $2,473,238.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Julie C. Knecht sold 7,764 shares of the company’s 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 owns 11,806 shares of the company’s stock, valued at approximately $2,473,238.94. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Haviv Ilan sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $209.44, for a total value of $251,328.00. Following the completion of the sale, the chief executive officer now directly owns 158,676 shares in the company, valued at approximately $33,233,101.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,558 shares of company stock valued at $3,255,323 in the last quarter. 0.68% of the stock is currently owned by company insiders.

Texas Instruments Stock Performance

Shares of NASDAQ TXN traded up $2.64 during midday trading on Friday, reaching $205.11. The company had a trading volume of 2,815,781 shares, compared to its average volume of 4,892,744. Texas Instruments Incorporated has a 1 year low of $139.48 and a 1 year high of $214.66. The business’s 50-day simple moving average is $201.93 and its 200 day simple moving average is $193.40. The company has a current ratio of 4.62, a quick ratio of 3.49 and a debt-to-equity ratio of 0.75. The stock has a market cap of $186.75 billion, a P/E ratio of 32.00, a P/E/G ratio of 4.41 and a beta of 0.98.

Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06. Texas Instruments had a return on equity of 31.10% and a net margin of 33.01%. The company had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the previous year, the firm posted $1.87 EPS. The firm’s revenue was down 15.6% compared to the same quarter last year. On average, analysts forecast that Texas Instruments Incorporated will post 5.11 earnings per share for the current fiscal year.

Texas Instruments Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st will be given a dividend of $1.36 per share. This is an increase from Texas Instruments’s previous quarterly dividend of $1.30. This represents a $5.44 annualized dividend and a yield of 2.65%. The ex-dividend date is Thursday, October 31st. Texas Instruments’s dividend payout ratio (DPR) is currently 84.87%.

Analyst Ratings Changes

A number of equities analysts have commented on TXN shares. Stifel Nicolaus upped their target price on shares of Texas Instruments from $172.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Robert W. Baird raised their price objective on Texas Instruments from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Truist Financial lowered their target price on Texas Instruments from $203.00 to $198.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. JPMorgan Chase & Co. raised their price target on Texas Instruments from $195.00 to $230.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Evercore ISI upped their price objective on shares of Texas Instruments from $255.00 to $268.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $205.65.

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.