Texas Instruments Incorporated (NASDAQ:TXN) Holdings Trimmed by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC trimmed its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,789 shares of the semiconductor company’s stock after selling 1,861 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Texas Instruments were worth $10,192,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Field & Main Bank boosted its position in shares of Texas Instruments by 10.4% in the 4th quarter. Field & Main Bank now owns 693 shares of the semiconductor company’s stock valued at $118,000 after purchasing an additional 65 shares during the period. Howard Financial Services LTD. boosted its holdings in shares of Texas Instruments by 3.1% in the fourth quarter. Howard Financial Services LTD. now owns 2,177 shares of the semiconductor company’s stock worth $371,000 after buying an additional 66 shares during the period. Sandy Spring Bank increased its position in shares of Texas Instruments by 3.5% in the fourth quarter. Sandy Spring Bank now owns 1,934 shares of the semiconductor company’s stock worth $330,000 after acquiring an additional 66 shares in the last quarter. Harbour Investments Inc. raised its holdings in shares of Texas Instruments by 2.1% during the third quarter. Harbour Investments Inc. now owns 3,197 shares of the semiconductor company’s stock valued at $508,000 after acquiring an additional 67 shares during the period. Finally, Pinnacle Financial Partners Inc boosted its stake in Texas Instruments by 0.5% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 12,470 shares of the semiconductor company’s stock worth $1,983,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 84.99% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on TXN. Barclays reduced their target price on Texas Instruments from $160.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. Evercore ISI lifted their target price on Texas Instruments from $213.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Benchmark reiterated a “buy” rating and issued a $210.00 target price on shares of Texas Instruments in a research report on Wednesday, April 24th. Stifel Nicolaus upped their price target on shares of Texas Instruments from $160.00 to $172.00 and gave the stock a “hold” rating in a research note on Wednesday, April 24th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Texas Instruments in a research report on Wednesday, April 24th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $180.74.

Texas Instruments Stock Performance

Texas Instruments stock traded up $1.28 during mid-day trading on Wednesday, reaching $183.95. The company had a trading volume of 4,213,671 shares, compared to its average volume of 5,651,623. The company has a 50 day moving average of $171.38 and a 200-day moving average of $163.58. Texas Instruments Incorporated has a 52 week low of $139.48 and a 52 week high of $188.12. The company has a quick ratio of 3.76, a current ratio of 4.91 and a debt-to-equity ratio of 0.76. The firm has a market cap of $167.48 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 3.81 and a beta of 1.01.

Texas Instruments (NASDAQ:TXN) last released its earnings results on Tuesday, April 23rd. The semiconductor company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. Texas Instruments had a return on equity of 35.28% and a net margin of 35.16%. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same period last year, the business earned $1.85 earnings per share. The firm’s revenue for the quarter was down 16.4% compared to the same quarter last year. On average, sell-side analysts expect that Texas Instruments Incorporated will post 5.21 EPS for the current fiscal year.

Texas Instruments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 21st. Stockholders of record on Wednesday, May 8th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Tuesday, May 7th. Texas Instruments’s dividend payout ratio is 81.12%.

Insider Activity

In related news, Director Pamela H. Patsley sold 9,990 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $179.12, for a total transaction of $1,789,408.80. Following the completion of the transaction, the director now owns 33,348 shares in the company, valued at approximately $5,973,293.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Pamela H. Patsley sold 9,990 shares of Texas Instruments stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $179.12, for a total transaction of $1,789,408.80. Following the completion of the transaction, the director now directly owns 33,348 shares of the company’s stock, valued at approximately $5,973,293.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert E. Sanchez sold 10,539 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $174.97, for a total transaction of $1,844,008.83. Following the sale, the director now directly owns 20,461 shares in the company, valued at $3,580,061.17. The disclosure for this sale can be found here. In the last three months, insiders have sold 328,969 shares of company stock worth $58,427,984. Corporate insiders own 0.68% of the company’s stock.

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.