Meridian Wealth Management LLC Takes $4.48 Million Position in Texas Instruments Incorporated (NASDAQ:TXN)

Meridian Wealth Management LLC bought a new stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 21,694 shares of the semiconductor company’s stock, valued at approximately $4,481,000.

Several other institutional investors have also recently made changes to their positions in the company. Axxcess Wealth Management LLC increased its holdings in Texas Instruments by 17.0% in the 1st quarter. Axxcess Wealth Management LLC now owns 9,940 shares of the semiconductor company’s stock worth $1,732,000 after acquiring an additional 1,446 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in Texas Instruments by 14.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 381,807 shares of the semiconductor company’s stock worth $66,515,000 after acquiring an additional 47,697 shares in the last quarter. LRI Investments LLC purchased a new stake in Texas Instruments in the 1st quarter worth $151,000. Steel Grove Capital Advisors LLC increased its holdings in Texas Instruments by 20.1% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 12,268 shares of the semiconductor company’s stock worth $2,137,000 after acquiring an additional 2,055 shares in the last quarter. Finally, Kestra Advisory Services LLC grew its holdings in shares of Texas Instruments by 15.6% during the first quarter. Kestra Advisory Services LLC now owns 134,310 shares of the semiconductor company’s stock worth $23,398,000 after buying an additional 18,107 shares in the last quarter. 84.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Bank of America lowered their price target on shares of Texas Instruments from $220.00 to $215.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $200.00 target price on shares of Texas Instruments in a research report on Wednesday, October 23rd. Robert W. Baird decreased their target price on shares of Texas Instruments from $200.00 to $175.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Susquehanna decreased their target price on shares of Texas Instruments from $250.00 to $240.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Finally, Evercore ISI increased their price target on shares of Texas Instruments from $268.00 to $298.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $210.05.

Texas Instruments Trading Down 0.3 %

Shares of TXN stock opened at $197.64 on Friday. Texas Instruments Incorporated has a fifty-two week low of $151.27 and a fifty-two week high of $220.38. The stock has a market cap of $180.29 billion, a P/E ratio of 36.78, a P/E/G ratio of 4.40 and a beta of 0.99. The business has a fifty day simple moving average of $204.49 and a 200-day simple moving average of $200.14. 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 (NASDAQ:TXN) last announced its quarterly 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. Texas Instruments had a return on equity of 29.05% and a net margin of 31.60%. The business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter last year, the business posted $1.80 earnings per share. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, analysts forecast 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 was paid on Tuesday, November 12th. Investors of record on Thursday, October 31st were given a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Thursday, October 31st. This is a boost from Texas Instruments’s previous quarterly dividend of $1.30. Texas Instruments’s dividend payout ratio (DPR) is currently 101.12%.

Insider Buying and Selling

In other news, CEO Haviv Ilan sold 1,200 shares of Texas Instruments stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $209.44, for a total value of $251,328.00. Following the transaction, the chief executive officer now directly owns 158,676 shares of the company’s stock, valued at $33,233,101.44. The trade was a 0.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert E. Sanchez sold 9,990 shares of Texas Instruments stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $208.80, for a total value of $2,085,912.00. Following the completion of the transaction, the director now directly owns 20,461 shares in the company, valued at $4,272,256.80. This represents a 32.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,968 shares of company stock worth $3,126,464. 0.68% of the stock is owned by corporate 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.