3,263 Texas Instruments Incorporated $TXN Shares Sold by GRIMES & Co WEALTH MANAGEMENT LLC

GRIMES & Co WEALTH MANAGEMENT LLC cut its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 18.7% in the third quarter, HoldingsChannel reports. The fund owned 14,165 shares of the semiconductor company’s stock after selling 3,263 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Texas Instruments were worth $3,967,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Texas Instruments during the 2nd quarter valued at approximately $24,607,313,000. Bank of New York Mellon Corp acquired a new position in shares of Texas Instruments in the 2nd quarter valued at $4,488,666,000. Bank of America Corp DE purchased a new stake in Texas Instruments during the second quarter worth $3,700,842,000. Van ECK Associates Corp boosted its holdings in Texas Instruments by 1.5% during the second quarter. Van ECK Associates Corp now owns 12,149,167 shares of the semiconductor company’s stock worth $3,621,302,000 after buying an additional 177,511 shares in the last quarter. Finally, Primecap Management Co. CA purchased a new stake in Texas Instruments during the second quarter worth $2,538,063,000. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Texas Instruments Trading Up 3.5%

TXN opened at $312.48 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.59 and a quick ratio of 4.05. The company’s 50 day simple moving average is $277.49 and its two-hundred day simple moving average is $259.93. Texas Instruments Incorporated has a 1-year low of $152.73 and a 1-year high of $334.03. The firm has a market capitalization of $285.53 billion, a price-to-earnings ratio of 40.53, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39.

Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings results on Wednesday, October 21st. The semiconductor company reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.22. The business had revenue of $6.05 billion during the quarter, compared to analyst estimates of $5.94 billion. Texas Instruments had a return on equity of 40.51% and a net margin of 34.25%. The business’s revenue was up 27.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.48 earnings per share. Analysts expect that Texas Instruments Incorporated will post 8.89 EPS for the current fiscal year.

Texas Instruments Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Friday, October 30th will be paid a dividend of $1.52 per share. This represents a $6.08 dividend on an annualized basis and a yield of 1.9%. This is an increase from Texas Instruments’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, October 30th. Texas Instruments’s dividend payout ratio is presently 78.86%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TXN shares. Morgan Stanley lifted their price objective on shares of Texas Instruments from $255.00 to $278.00 and gave the company an “underweight” rating in a report on Thursday, October 22nd. Barclays upped their price objective on shares of Texas Instruments from $250.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 22nd. TD Cowen lowered their target price on shares of Texas Instruments from $340.00 to $330.00 and set a “buy” rating on the stock in a research note on Monday, October 19th. Mizuho dropped their target price on Texas Instruments from $305.00 to $290.00 and set a “neutral” rating on the stock in a research report on Thursday, October 22nd. Finally, Citigroup restated a “buy” rating on shares of Texas Instruments in a research note on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Texas Instruments presently has a consensus rating of “Moderate Buy” and an average price target of $315.37.

Insider Activity at Texas Instruments

In related news, Director Pamela Patsley sold 4,532 shares of the company’s stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $301.56, for a total value of $1,366,669.92. Following the completion of the sale, the director owned 34,487 shares of the company’s stock, valued at approximately $10,399,899.72. This represents a 11.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert Sanchez sold 6,065 shares of the stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $302.21, for a total transaction of $1,832,903.65. Following the completion of the sale, the director directly owned 21,600 shares of the company’s stock, valued at approximately $6,527,736. This trade represents a 21.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,968 shares of company stock valued at $8,236,892 in the last three months. Company insiders own 0.60% of the company’s stock.

About Texas Instruments

Texas Instruments Incorporated (NASDAQ:TXN) designs and manufactures analog and embedded semiconductor products used in industrial, automotive, personal electronics, communications equipment, and enterprise systems. Its analog products help manage power, sense and measure real-world signals, and support signal processing, while its embedded processing products provide computing and control functions within electronic systems.

The company offers a broad portfolio of semiconductors, including power-management devices, amplifiers, data converters, microcontrollers, processors, and connectivity products.