PNC Financial Services Group Inc. Cuts Position in Texas Instruments Incorporated (NASDAQ:TXN)

PNC Financial Services Group Inc. lessened its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,297,519 shares of the semiconductor company’s stock after selling 12,406 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Texas Instruments were worth $268,028,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capital Research Global Investors boosted its stake in Texas Instruments by 4.7% in the 1st quarter. Capital Research Global Investors now owns 28,715,467 shares of the semiconductor company’s stock worth $5,002,522,000 after purchasing an additional 1,279,828 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Texas Instruments by 454.5% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,256,289 shares of the semiconductor company’s stock valued at $244,386,000 after buying an additional 1,029,741 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Texas Instruments by 17,253.3% in the 3rd quarter. International Assets Investment Management LLC now owns 613,440 shares of the semiconductor company’s stock worth $126,718,000 after purchasing an additional 609,905 shares during the period. National Bank of Canada FI raised its stake in shares of Texas Instruments by 234.1% during the 2nd quarter. National Bank of Canada FI now owns 742,268 shares of the semiconductor company’s stock worth $144,423,000 after buying an additional 520,073 shares during the period. Finally, William Blair Investment Management LLC lifted its holdings in Texas Instruments by 37.2% during the second quarter. William Blair Investment Management LLC now owns 1,666,886 shares of the semiconductor company’s stock valued at $324,259,000 after purchasing an additional 451,862 shares in the last quarter. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on TXN shares. Evercore ISI lifted their price target on Texas Instruments from $268.00 to $298.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Susquehanna lowered their price objective on Texas Instruments from $250.00 to $240.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Benchmark reiterated a “buy” rating and set a $230.00 price target on shares of Texas Instruments in a research report on Wednesday, October 23rd. Barclays cut their price objective on Texas Instruments from $210.00 to $200.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group increased their target price on shares of Texas Instruments from $175.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $206.95.

Insider Transactions at Texas Instruments

In other news, VP Shanon J. Leonard sold 2,816 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $208.91, for a total transaction of $588,290.56. Following the completion of the transaction, the vice president now directly owns 24,112 shares of the company’s stock, valued at $5,037,237.92. This trade represents a 10.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert E. Sanchez sold 9,990 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $208.80, for a total value of $2,085,912.00. Following the completion of the transaction, the director now directly owns 20,461 shares of the company’s stock, valued at approximately $4,272,256.80. This trade represents a 32.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,548 shares of company stock valued at $5,341,235. Corporate insiders own 0.68% of the company’s stock.

Texas Instruments Stock Up 3.0 %

TXN opened at $207.18 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.14 and a current ratio of 4.31. Texas Instruments Incorporated has a one year low of $151.27 and a one year high of $220.38. The business’s 50-day simple moving average is $204.51 and its 200-day simple moving average is $200.01. The stock has a market capitalization of $188.99 billion, a P/E ratio of 38.51, a price-to-earnings-growth ratio of 4.40 and a beta of 0.99.

Texas Instruments (NASDAQ:TXN) last announced its earnings results on Tuesday, October 22nd. The semiconductor company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.09. Texas Instruments had a net margin of 31.60% and a return on equity of 29.05%. The business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same period in the prior year, the company earned $1.80 earnings per share. The business’s revenue was down 8.4% compared to the same quarter last year. Analysts anticipate that Texas Instruments Incorporated will post 5.08 EPS for the current year.

Texas Instruments Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Thursday, October 31st were paid a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.63%. This is a positive change from Texas Instruments’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, October 31st. Texas Instruments’s payout ratio is 101.12%.

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.