Resona Asset Management Co. Ltd. Takes $58.41 Million Position in Texas Instruments Incorporated (NASDAQ:TXN)

Resona Asset Management Co. Ltd. bought a new position in shares of Texas Instruments Incorporated (NASDAQ:TXN) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 310,737 shares of the semiconductor company’s stock, valued at approximately $58,414,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Texas Instruments in the 4th quarter worth approximately $2,584,490,000. Assenagon Asset Management S.A. grew its position in Texas Instruments by 948.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,794,646 shares of the semiconductor company’s stock worth $899,044,000 after buying an additional 4,337,295 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Texas Instruments by 11.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 21,487,468 shares of the semiconductor company’s stock valued at $4,029,115,000 after buying an additional 2,237,035 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Texas Instruments during the 4th quarter valued at $295,665,000. Finally, Van ECK Associates Corp boosted its stake in shares of Texas Instruments by 21.8% during the 4th quarter. Van ECK Associates Corp now owns 7,513,870 shares of the semiconductor company’s stock worth $1,408,925,000 after acquiring an additional 1,345,629 shares in the last quarter. 84.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wells Fargo & Company reduced their target price on Texas Instruments from $215.00 to $208.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Truist Financial decreased their target price on shares of Texas Instruments from $199.00 to $195.00 and set a “hold” rating for the company in a report on Friday, January 24th. Cantor Fitzgerald restated a “neutral” rating and set a $200.00 price target on shares of Texas Instruments in a report on Friday, January 24th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Texas Instruments in a research note on Tuesday, January 21st. Finally, Barclays cut their target price on shares of Texas Instruments from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $209.20.

Texas Instruments Stock Performance

TXN stock opened at $151.39 on Friday. The firm has a 50 day moving average of $184.06 and a two-hundred day moving average of $193.71. Texas Instruments Incorporated has a 12 month low of $150.96 and a 12 month high of $220.39. The company has a market capitalization of $137.75 billion, a price-to-earnings ratio of 29.17, a P/E/G ratio of 3.30 and a beta of 0.99. The company has a quick ratio of 2.88, a current ratio of 4.12 and a debt-to-equity ratio of 0.76.

Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings data on Thursday, January 23rd. The semiconductor company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.10. Texas Instruments had a net margin of 30.68% and a return on equity of 28.08%. During the same period in the previous year, the firm earned $1.49 earnings per share. As a group, equities analysts anticipate that Texas Instruments Incorporated will post 5.35 EPS for the current fiscal year.

Texas Instruments Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Friday, January 31st were issued a $1.36 dividend. The ex-dividend date was Friday, January 31st. This represents a $5.44 annualized dividend and a yield of 3.59%. Texas Instruments’s dividend payout ratio (DPR) is currently 104.82%.

Insiders Place Their Bets

In related news, Chairman Richard K. Templeton sold 97,000 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $197.69, for a total transaction of $19,175,930.00. Following the completion of the sale, the chairman now owns 409,089 shares in the company, valued at $80,872,804.41. This represents a 19.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Blinn sold 590 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $180.71, for a total value of $106,618.90. Following the completion of the sale, the director now directly owns 11,717 shares in the company, valued at $2,117,379.07. This trade represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 297,655 shares of company stock valued at $59,841,304 over the last 90 days. 0.57% of the stock is currently owned by company insiders.

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.