Texas Instruments Incorporated (NASDAQ:TXN) Position Lessened by Ascension Asset Management LLC

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Ascension Asset Management LLC trimmed its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 6.5% during the third quarter, Holdings Channel reports. The fund owned 20,520 shares of the semiconductor company’s stock after selling 1,425 shares during the quarter. Texas Instruments accounts for 2.4% of Ascension Asset Management LLC’s investment portfolio, making the stock its 10th largest holding. Ascension Asset Management LLC’s holdings in Texas Instruments were worth $2,652,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Private Trust Co. NA increased its holdings in Texas Instruments by 3.3% in the second quarter. Private Trust Co. NA now owns 8,927 shares of the semiconductor company’s stock valued at $1,024,000 after buying an additional 281 shares during the last quarter. Baystate Wealth Management LLC increased its holdings in Texas Instruments by 24.1% in the second quarter. Baystate Wealth Management LLC now owns 875 shares of the semiconductor company’s stock valued at $103,000 after buying an additional 170 shares during the last quarter. Metropolis Capital Ltd bought a new stake in Texas Instruments in the second quarter valued at about $8,750,000. Rockland Trust Co. increased its holdings in Texas Instruments by 13.0% in the second quarter. Rockland Trust Co. now owns 5,382 shares of the semiconductor company’s stock valued at $618,000 after buying an additional 621 shares during the last quarter. Finally, WINTON GROUP Ltd increased its holdings in Texas Instruments by 78.9% in the second quarter. WINTON GROUP Ltd now owns 197,739 shares of the semiconductor company’s stock valued at $22,693,000 after buying an additional 87,218 shares during the last quarter. 85.38% of the stock is currently owned by institutional investors and hedge funds.

Shares of TXN stock opened at $128.57 on Wednesday. The company has a quick ratio of 2.22, a current ratio of 3.01 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average of $128.18 and a two-hundred day moving average of $118.85. Texas Instruments Incorporated has a 52 week low of $87.70 and a 52 week high of $132.20. The company has a market cap of $120.87 billion, a P/E ratio of 23.72, a PEG ratio of 2.45 and a beta of 1.26.

Texas Instruments (NASDAQ:TXN) last issued its earnings results on Tuesday, October 22nd. The semiconductor company reported $1.49 EPS for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.07. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.82 billion. Texas Instruments had a return on equity of 57.25% and a net margin of 34.98%. Texas Instruments’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.56 earnings per share. Analysts expect that Texas Instruments Incorporated will post 5.23 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This is an increase from Texas Instruments’s previous quarterly dividend of $0.77. This represents a $3.60 annualized dividend and a dividend yield of 2.80%. Texas Instruments’s payout ratio is currently 56.83%.

Several analysts recently weighed in on TXN shares. Charter Equity raised Texas Instruments from a “market perform” rating to a “buy” rating in a report on Wednesday, July 24th. Loop Capital boosted their price objective on Texas Instruments to $140.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Jefferies Financial Group boosted their price objective on Texas Instruments from $137.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Bank of America raised Texas Instruments from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $150.00 in a report on Friday, September 27th. Finally, Barclays boosted their price objective on Texas Instruments from $105.00 to $120.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $120.53.

In other news, SVP Bing Xie sold 52,299 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $127.75, for a total transaction of $6,681,197.25. Following the completion of the transaction, the senior vice president now directly owns 106,264 shares in the company, valued at $13,575,226. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Rafael R. Lizardi sold 76,523 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $128.02, for a total value of $9,796,474.46. Following the transaction, the chief financial officer now owns 94,648 shares of the company’s stock, valued at $12,116,836.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,251,117 shares of company stock valued at $159,473,823. Insiders own 0.89% of the company’s stock.

Texas Instruments Profile

Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. It operates in two segments, Analog and Embedded Processing. The Analog segment offers power products to manage power requirements in various levels using battery management solutions, portable components, power supply controls, point-of-load products, switches and interfaces, integrated protection devices, high-voltage products, and mobile lighting and display products.

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Institutional Ownership by Quarter for Texas Instruments (NASDAQ:TXN)

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