Convergence Financial LLC Has $591,000 Position in Texas Instruments Incorporated (NASDAQ:TXN)

Convergence Financial LLC lowered its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 24.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,860 shares of the semiconductor company’s stock after selling 948 shares during the period. Convergence Financial LLC’s holdings in Texas Instruments were worth $591,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Skandinaviska Enskilda Banken AB publ increased its stake in Texas Instruments by 4.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 234,232 shares of the semiconductor company’s stock valued at $45,535,000 after acquiring an additional 9,608 shares during the period. Nordea Investment Management AB lifted its position in shares of Texas Instruments by 16.9% during the first quarter. Nordea Investment Management AB now owns 1,005,547 shares of the semiconductor company’s stock worth $175,538,000 after purchasing an additional 145,328 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Texas Instruments by 60.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 174,310 shares of the semiconductor company’s stock worth $33,909,000 after purchasing an additional 65,512 shares in the last quarter. Advisors Capital Management LLC lifted its position in shares of Texas Instruments by 185.7% during the first quarter. Advisors Capital Management LLC now owns 316,421 shares of the semiconductor company’s stock worth $55,124,000 after purchasing an additional 205,676 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Texas Instruments by 454.5% during the second 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 purchasing an additional 1,029,741 shares in the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.

Texas Instruments Stock Up 0.2 %

Shares of TXN stock opened at $206.93 on Friday. The firm has a fifty day moving average of $203.65 and a 200-day moving average of $195.33. The company has a quick ratio of 3.49, a current ratio of 4.62 and a debt-to-equity ratio of 0.75. Texas Instruments Incorporated has a 12-month low of $139.48 and a 12-month high of $214.66. The company has a market capitalization of $188.41 billion, a price-to-earnings ratio of 32.28, a P/E/G ratio of 4.22 and a beta of 0.98.

Texas Instruments (NASDAQ:TXN) last released its earnings results on Tuesday, October 22nd. The semiconductor company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.09. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.12 billion. Texas Instruments had a net margin of 31.60% and a return on equity of 29.15%. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.80 earnings per share. As a group, equities research analysts predict that Texas Instruments Incorporated will post 5.11 earnings per share for the current fiscal year.

Texas Instruments Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Thursday, October 31st will be given a $1.36 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $5.44 dividend on an annualized basis and a yield of 2.63%. This is an increase from Texas Instruments’s previous quarterly dividend of $1.30. Texas Instruments’s dividend payout ratio (DPR) is 84.87%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TXN. Susquehanna cut their price objective on shares of Texas Instruments from $250.00 to $240.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Bank of America cut their price objective on shares of Texas Instruments from $220.00 to $215.00 and set a “neutral” rating on the stock in a report on Wednesday. Evercore ISI increased their price objective on shares of Texas Instruments from $268.00 to $298.00 and gave the company an “outperform” rating in a report on Wednesday. Morgan Stanley increased their price objective on shares of Texas Instruments from $154.00 to $167.00 and gave the company an “underweight” rating in a report on Wednesday. Finally, Stifel Nicolaus increased their price objective on shares of Texas Instruments from $172.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Texas Instruments currently has an average rating of “Hold” and an average target price of $206.95.

Insider Activity at Texas Instruments

In other news, CAO Julie C. Knecht sold 7,764 shares of Texas Instruments stock in a transaction dated 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 owns 11,806 shares of the company’s stock, valued at $2,473,238.94. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Julie C. Knecht sold 7,764 shares of Texas Instruments stock in a transaction dated 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 owns 11,806 shares of the company’s stock, valued at $2,473,238.94. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Mohammad Yunus sold 3,778 shares of Texas Instruments stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $208.90, for a total transaction of $789,224.20. Following the completion of the transaction, the vice president now directly owns 28,894 shares of the company’s stock, valued at approximately $6,035,956.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,558 shares of company stock valued at $3,255,323. Corporate insiders own 0.68% of the company’s stock.

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.