Prestige Wealth Management Group LLC Cuts Stake in Texas Instruments Incorporated (NASDAQ:TXN)

Prestige Wealth Management Group LLC lessened its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 19.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,713 shares of the semiconductor company’s stock after selling 401 shares during the period. Prestige Wealth Management Group LLC’s holdings in Texas Instruments were worth $333,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Richardson Financial Services Inc. purchased a new position in shares of Texas Instruments in the fourth quarter worth $26,000. Scarborough Advisors LLC purchased a new position in Texas Instruments in the 4th quarter worth $26,000. Westend Capital Management LLC acquired a new stake in Texas Instruments during the 1st quarter worth about $31,000. Norwood Financial Corp purchased a new stake in Texas Instruments during the 1st quarter valued at about $32,000. Finally, Fortis Group Advisors LLC grew its stake in Texas Instruments by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 196 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 98 shares during the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.

Texas Instruments Trading Down 2.0 %

Shares of NASDAQ:TXN traded down $4.10 during midday trading on Friday, reaching $197.45. 6,314,390 shares of the company’s stock were exchanged, compared to its average volume of 5,550,251. The firm’s 50 day simple moving average is $200.50 and its two-hundred day simple moving average is $187.57. Texas Instruments Incorporated has a fifty-two week low of $139.48 and a fifty-two week high of $214.66. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.62 and a quick ratio of 3.49. The stock has a market cap of $179.77 billion, a price-to-earnings ratio of 30.80, a P/E/G ratio of 4.43 and a beta of 0.99.

Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. Texas Instruments had a net margin of 33.01% and a return on equity of 31.10%. The business had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same period last year, the business earned $1.87 earnings per share. The business’s revenue for the quarter was down 15.6% on a year-over-year basis. As a group, sell-side analysts forecast that Texas Instruments Incorporated will post 5.11 EPS for the current fiscal year.

Texas Instruments Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Wednesday, July 31st were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend was Wednesday, July 31st. Texas Instruments’s payout ratio is 81.12%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. lifted their target price on Texas Instruments from $195.00 to $230.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Stifel Nicolaus lifted their price objective on shares of Texas Instruments from $172.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Evercore ISI increased their price objective on shares of Texas Instruments from $255.00 to $268.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Truist Financial decreased their target price on shares of Texas Instruments from $203.00 to $198.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Finally, KeyCorp increased their price target on Texas Instruments from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $204.67.

Insider Transactions at Texas Instruments

In related news, CEO Haviv Ilan sold 1,200 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $209.44, for a total transaction of $251,328.00. Following the completion of the transaction, the chief executive officer now directly owns 158,676 shares of the company’s stock, valued at approximately $33,233,101.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Julie C. Knecht sold 7,764 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,473,238.94. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Haviv Ilan sold 1,200 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $209.44, for a total value of $251,328.00. Following the sale, the chief executive officer now directly owns 158,676 shares in the company, valued at approximately $33,233,101.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,558 shares of company stock valued at $3,255,323. 0.68% of the stock is currently owned by corporate insiders.

Texas Instruments 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.