Montecito Bank & Trust Has $304,000 Position in Texas Instruments Incorporated (NASDAQ:TXN)

Montecito Bank & Trust lowered its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 27.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,472 shares of the semiconductor company’s stock after selling 551 shares during the period. Montecito Bank & Trust’s holdings in Texas Instruments were worth $304,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TXN. Investment Advisory Services Inc. TX ADV grew its position in shares of Texas Instruments by 1.6% during the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 3,145 shares of the semiconductor company’s stock worth $612,000 after buying an additional 51 shares during the period. Lansing Street Advisors grew its position in Texas Instruments by 4.7% in the 3rd quarter. Lansing Street Advisors now owns 1,127 shares of the semiconductor company’s stock valued at $233,000 after purchasing an additional 51 shares during the period. NorthCrest Asset Manangement LLC grew its position in Texas Instruments by 1.1% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 4,985 shares of the semiconductor company’s stock valued at $1,030,000 after purchasing an additional 52 shares during the period. Verity Asset Management Inc. grew its position in Texas Instruments by 1.1% in the 1st quarter. Verity Asset Management Inc. now owns 4,841 shares of the semiconductor company’s stock valued at $843,000 after purchasing an additional 54 shares during the period. Finally, Prentice Wealth Management LLC grew its position in Texas Instruments by 2.1% in the 2nd quarter. Prentice Wealth Management LLC now owns 2,651 shares of the semiconductor company’s stock valued at $516,000 after purchasing an additional 55 shares during the period. Institutional investors own 84.99% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Citigroup raised shares of Texas Instruments from a “neutral” rating to a “buy” rating and lifted their price target for the company from $200.00 to $235.00 in a research report on Wednesday, August 21st. Robert W. Baird reduced their price target on shares of Texas Instruments from $200.00 to $175.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Stifel Nicolaus lifted their price target on shares of Texas Instruments from $172.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Truist Financial dropped their price objective on Texas Instruments from $198.00 to $190.00 and set a “hold” rating on the stock in a research note on Wednesday, October 23rd. Finally, Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of Texas Instruments in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, eleven have given 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 an average rating of “Hold” and an average target price of $206.95.

Insider Buying and Selling at Texas Instruments

In other Texas Instruments news, CEO Haviv Ilan sold 1,200 shares of the business’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 value of $251,328.00. Following the completion of the sale, the chief executive officer now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO Julie C. Knecht sold 7,764 shares of the company’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 transaction of $1,626,480.36. Following the completion of the transaction, the chief accounting officer now owns 11,806 shares in the company, valued at $2,473,238.94. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Haviv Ilan sold 1,200 shares of the company’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 transaction, the chief executive officer now owns 158,676 shares of the company’s stock, valued at approximately $33,233,101.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,548 shares of company stock worth $5,341,235. 0.68% of the stock is currently owned by insiders.

Texas Instruments Stock Performance

NASDAQ:TXN opened at $217.54 on Friday. The business has a 50 day moving average of $203.70 and a 200 day moving average of $197.75. The company has a market capitalization of $198.44 billion, a price-to-earnings ratio of 40.43, a PEG ratio of 4.70 and a beta of 0.99. Texas Instruments Incorporated has a 1-year low of $143.08 and a 1-year high of $218.25. The company has a debt-to-equity ratio of 0.74, a current ratio of 4.31 and a quick ratio of 3.14.

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, topping analysts’ consensus estimates of $1.38 by $0.09. Texas Instruments had a return on equity of 29.05% and a net margin of 31.60%. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the previous year, the company posted $1.80 EPS. Texas Instruments’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, sell-side analysts predict that Texas Instruments Incorporated will post 5.08 earnings per share for the current fiscal year.

Texas Instruments Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders 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 annualized dividend and a yield of 2.50%. This is an increase from Texas Instruments’s previous quarterly dividend of $1.30. Texas Instruments’s payout ratio is presently 101.12%.

About Texas Instruments

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.