Procyon Advisors LLC Trims Position in Texas Instruments Incorporated (NASDAQ:TXN)

Procyon Advisors LLC trimmed its position in Texas Instruments Incorporated (NASDAQ:TXN) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,412 shares of the semiconductor company’s stock after selling 244 shares during the quarter. Procyon Advisors LLC’s holdings in Texas Instruments were worth $1,946,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TXN. Vanguard Group Inc. increased its stake in Texas Instruments by 0.6% in 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 grew its holdings 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 worth $5,002,522,000 after purchasing an additional 1,279,828 shares in the last quarter. Legal & General Group Plc increased its position in shares of Texas Instruments by 0.8% in the second quarter. Legal & General Group Plc now owns 7,831,270 shares of the semiconductor company’s stock worth $1,523,415,000 after purchasing an additional 64,067 shares during the last quarter. Van ECK Associates Corp raised its stake in 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 valued at $1,158,495,000 after purchasing an additional 348,528 shares in the last quarter. Finally, Fayez Sarofim & Co lifted its position in Texas Instruments by 2.5% during the first quarter. Fayez Sarofim & Co now owns 4,271,960 shares of the semiconductor company’s stock valued at $744,218,000 after purchasing an additional 104,806 shares during the last quarter. 84.99% of the stock is currently owned by institutional investors.

Texas Instruments Price Performance

Shares of NASDAQ TXN opened at $208.66 on Tuesday. Texas Instruments Incorporated has a 1 year low of $139.48 and a 1 year high of $214.66. The stock has a market capitalization of $189.98 billion, a P/E ratio of 32.55, a P/E/G ratio of 4.41 and a beta of 0.98. The company’s 50-day moving average is $202.48 and its 200 day moving average is $193.79. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.62 and a quick ratio of 3.49.

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

Texas Instruments Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Thursday, October 31st will be paid a $1.36 dividend. This represents a $5.44 annualized dividend and a dividend yield of 2.61%. This is a positive change from Texas Instruments’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Thursday, October 31st. Texas Instruments’s dividend payout ratio (DPR) is presently 84.87%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. KeyCorp lifted their price objective on shares of Texas Instruments from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Benchmark reiterated a “buy” rating and set a $230.00 price objective on shares of Texas Instruments in a research report on Wednesday, July 24th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of Texas Instruments in a research note on Monday. Citigroup raised shares of Texas Instruments from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $200.00 to $235.00 in a research note on Wednesday, August 21st. Finally, Morgan Stanley upped their price objective on shares of Texas Instruments from $150.00 to $156.00 and gave the company an “underweight” rating in a research note on Thursday, July 11th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Texas Instruments has an average rating of “Hold” and an average target price of $205.65.

Insider Buying and Selling

In other news, CAO Julie C. Knecht sold 7,764 shares of the stock in a transaction 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 directly owns 11,806 shares of the company’s stock, valued at approximately $2,473,238.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Mohammad Yunus sold 3,778 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $208.90, for a total value of $789,224.20. Following the completion of the transaction, the vice president now owns 28,894 shares in the company, valued at $6,035,956.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Julie C. Knecht sold 7,764 shares of the 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 sale, the chief accounting officer now directly owns 11,806 shares in the company, valued at $2,473,238.94. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,558 shares of company stock valued at $3,255,323 over the last quarter. 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.