The Manufacturers Life Insurance Company Reduces Holdings in Texas Instruments Incorporated (NASDAQ:TXN)

The Manufacturers Life Insurance Company trimmed its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 18.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 3,278,999 shares of the semiconductor company’s stock after selling 724,290 shares during the period. Texas Instruments makes up about 0.6% of The Manufacturers Life Insurance Company’s holdings, making the stock its 29th largest holding. The Manufacturers Life Insurance Company’s holdings in Texas Instruments were worth $677,351,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. acquired a new stake in shares of Texas Instruments in the third quarter valued at $28,000. Tsfg LLC grew its position in Texas Instruments by 82.0% in the 3rd quarter. Tsfg LLC now owns 182 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 82 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Texas Instruments during the third quarter worth about $39,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Texas Instruments during the third quarter worth about $43,000. Finally, Darwin Wealth Management LLC acquired a new position in shares of Texas Instruments in the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of Texas Instruments in a research report on Wednesday, October 23rd. Summit Insights upgraded Texas Instruments from a “hold” rating to a “buy” rating in a research note on Wednesday, October 23rd. Mizuho set a $200.00 target price on shares of Texas Instruments in a research note on Friday, October 18th. Benchmark reissued a “buy” rating and issued a $230.00 price objective on shares of Texas Instruments in a research report on Wednesday, October 23rd. Finally, Bank of America lowered their target price on shares of Texas Instruments from $220.00 to $215.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $210.05.

Texas Instruments Trading Up 2.5 %

Shares of Texas Instruments stock opened at $202.93 on Tuesday. Texas Instruments Incorporated has a 52-week low of $151.27 and a 52-week high of $220.38. The company’s 50-day simple moving average is $204.54 and its 200-day simple moving average is $200.61. The firm has a market cap of $185.12 billion, a price-to-earnings ratio of 37.72, a price-to-earnings-growth ratio of 4.33 and a beta of 0.99. The company has a quick ratio of 3.14, a current ratio of 4.31 and a debt-to-equity ratio of 0.74.

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

Texas Instruments Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Thursday, October 31st were issued a dividend of $1.36 per share. The ex-dividend date of this dividend was Thursday, October 31st. This is a boost from Texas Instruments’s previous quarterly dividend of $1.30. This represents a $5.44 annualized dividend and a yield of 2.68%. Texas Instruments’s payout ratio is currently 101.12%.

Insiders Place Their Bets

In other Texas Instruments news, Director Robert E. Sanchez sold 9,990 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $208.80, for a total value of $2,085,912.00. Following the sale, the director now owns 20,461 shares of the company’s stock, valued at $4,272,256.80. This represents a 32.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.68% of the stock is owned by company insiders.

About Texas Instruments

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.