AMG National Trust Bank Lowers Position in Texas Instruments Incorporated (NASDAQ:TXN)

AMG National Trust Bank reduced its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 45.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,051 shares of the semiconductor company’s stock after selling 21,073 shares during the period. AMG National Trust Bank’s holdings in Texas Instruments were worth $5,175,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors increased its holdings in shares of Texas Instruments by 4.7% in the 1st quarter. Capital Research Global Investors now owns 28,715,467 shares of the semiconductor company’s stock valued at $5,002,522,000 after purchasing an additional 1,279,828 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Texas Instruments by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 7,831,270 shares of the semiconductor company’s stock worth $1,523,415,000 after acquiring an additional 64,067 shares during the period. Van ECK Associates Corp increased its stake in Texas Instruments by 3.6% in the 3rd quarter. Van ECK Associates Corp now owns 6,168,241 shares of the semiconductor company’s stock valued at $1,244,381,000 after purchasing an additional 212,888 shares in the last quarter. Fayez Sarofim & Co increased its stake in Texas Instruments by 2.5% in the 1st 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 in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Texas Instruments by 3.3% during the second quarter. The Manufacturers Life Insurance Company now owns 4,003,289 shares of the semiconductor company’s stock worth $778,750,000 after purchasing an additional 129,717 shares during the last quarter. 84.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TXN shares. Deutsche Bank Aktiengesellschaft lifted their price target on Texas Instruments from $160.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Morgan Stanley upped their target price on Texas Instruments from $154.00 to $167.00 and gave the company an “underweight” rating in a research note on Wednesday, October 23rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $200.00 price target on shares of Texas Instruments in a report on Wednesday, October 23rd. Summit Insights upgraded Texas Instruments from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd. Finally, Citigroup raised shares of Texas Instruments from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $200.00 to $235.00 in a research report on Wednesday, August 21st. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $206.95.

Insiders Place Their Bets

In related news, CAO Julie C. Knecht sold 7,764 shares of the company’s stock in a transaction 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 directly owns 11,806 shares in the company, valued at $2,473,238.94. This represents a 39.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Shanon J. Leonard sold 2,816 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $208.91, for a total value of $588,290.56. Following the completion of the sale, the vice president now owns 24,112 shares in the company, valued at $5,037,237.92. The trade was a 10.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,548 shares of company stock valued at $5,341,235 over the last 90 days. 0.68% of the stock is owned by company insiders.

Texas Instruments Trading Down 2.4 %

NASDAQ TXN opened at $201.12 on Monday. The company’s fifty day moving average price is $204.39 and its two-hundred day moving average price is $199.79. The company has a market capitalization of $183.47 billion, a price-to-earnings ratio of 37.38, a price-to-earnings-growth ratio of 4.40 and a beta of 0.99. Texas Instruments Incorporated has a 12 month low of $150.81 and a 12 month high of $220.38. 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 announced its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.09. Texas Instruments had a return on equity of 29.05% and a net margin of 31.60%. The firm had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the prior year, the firm posted $1.80 earnings per share. Texas Instruments’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, research analysts predict that Texas Instruments Incorporated will post 5.08 earnings per share for the current fiscal year.

Texas Instruments Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Thursday, October 31st were paid a dividend of $1.36 per share. 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. This represents a $5.44 annualized dividend and a yield of 2.70%. Texas Instruments’s dividend payout ratio (DPR) is 101.12%.

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.