Texas Instruments Incorporated $TXN Shares Acquired by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC raised its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 48,700.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,224 shares of the semiconductor company’s stock after buying an additional 11,201 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Texas Instruments were worth $3,144,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of TXN. Ackerman Capital Advisors LLC acquired a new stake in shares of Texas Instruments during the third quarter worth about $448,000. RFG Holdings Inc. boosted its holdings in shares of Texas Instruments by 55.3% in the 3rd quarter. RFG Holdings Inc. now owns 1,583 shares of the semiconductor company’s stock valued at $443,000 after buying an additional 564 shares in the last quarter. Hughes Financial Services LLC grew its holdings in shares of Texas Instruments by 12.6% during the third quarter. Hughes Financial Services LLC now owns 412 shares of the semiconductor company’s stock worth $115,000 after purchasing an additional 46 shares during the last quarter. Lyell Wealth Management LP increased its position in shares of Texas Instruments by 1.3% during the third quarter. Lyell Wealth Management LP now owns 3,151 shares of the semiconductor company’s stock worth $883,000 after purchasing an additional 40 shares in the last quarter. Finally, Associated Banc Corp acquired a new position in Texas Instruments during the third quarter worth approximately $11,376,000. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Texas Instruments Trading Up 3.5%

Shares of TXN stock opened at $312.48 on Wednesday. The firm has a 50-day moving average price of $277.49 and a 200 day moving average price of $259.93. The company has a current ratio of 5.59, a quick ratio of 4.05 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $285.53 billion, a price-to-earnings ratio of 40.53, a PEG ratio of 1.50 and a beta of 1.39. Texas Instruments Incorporated has a twelve month low of $152.73 and a twelve month high of $334.03.

Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.22. The business had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.94 billion. Texas Instruments had a net margin of 34.25% and a return on equity of 40.51%. The company’s quarterly revenue was up 27.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.48 earnings per share. Research analysts forecast that Texas Instruments Incorporated will post 8.89 earnings per share 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. Stockholders of record on Friday, October 30th will be issued a dividend of $1.52 per share. This represents a $6.08 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, October 30th. This is an increase from Texas Instruments’s previous quarterly dividend of $1.42. Texas Instruments’s payout ratio is currently 78.86%.

Insider Transactions at Texas Instruments

In related news, Director Ronald Kirk sold 6,065 shares of the company’s stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $310.39, for a total transaction of $1,882,515.35. Following the completion of the transaction, the director owned 15,462 shares of the company’s stock, valued at approximately $4,799,250.18. This represents a 28.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Pamela Patsley sold 4,532 shares of the company’s stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $301.56, for a total value of $1,366,669.92. Following the sale, the director owned 34,487 shares of the company’s stock, valued at approximately $10,399,899.72. The trade was a 11.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 27,968 shares of company stock valued at $8,236,892 in the last quarter. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

TXN has been the topic of a number of research reports. Evercore reissued an “outperform” rating and set a $330.00 price target (up from $316.00) on shares of Texas Instruments in a report on Thursday, July 23rd. Sanford C. Bernstein lifted their target price on shares of Texas Instruments from $250.00 to $290.00 and gave the company a “market perform” rating in a report on Thursday, July 23rd. Stifel Nicolaus upped their price objective on Texas Instruments from $360.00 to $370.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Weiss Ratings lowered shares of Texas Instruments from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 23rd. Finally, Susquehanna restated a “positive” rating on shares of Texas Instruments in a research report on Thursday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $315.37.

Texas Instruments Profile

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.