Westside Investment Management Inc. Cuts Holdings in Texas Instruments Incorporated (NASDAQ:TXN)

Westside Investment Management Inc. trimmed its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 53.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 150 shares of the semiconductor company’s stock after selling 172 shares during the period. Westside Investment Management Inc.’s holdings in Texas Instruments were worth $26,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TXN. Norges Bank bought a new position in shares of Texas Instruments during the 4th quarter valued at $1,649,592,000. Morgan Stanley raised its holdings in Texas Instruments by 14.2% in the 3rd quarter. Morgan Stanley now owns 14,154,358 shares of the semiconductor company’s stock worth $2,250,685,000 after purchasing an additional 1,755,582 shares during the period. California Public Employees Retirement System raised its holdings in Texas Instruments by 33.2% in the 4th quarter. California Public Employees Retirement System now owns 6,035,704 shares of the semiconductor company’s stock worth $1,028,846,000 after purchasing an additional 1,502,989 shares during the period. Assenagon Asset Management S.A. raised its holdings in Texas Instruments by 565.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,693,577 shares of the semiconductor company’s stock worth $288,687,000 after purchasing an additional 1,439,066 shares during the period. Finally, Baillie Gifford & Co. raised its holdings in Texas Instruments by 338.4% in the 4th quarter. Baillie Gifford & Co. now owns 1,795,191 shares of the semiconductor company’s stock worth $306,008,000 after purchasing an additional 1,385,725 shares during the period. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Chairman Richard K. Templeton sold 100,440 shares of Texas Instruments stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.47, for a total value of $17,925,526.80. Following the completion of the transaction, the chairman now owns 403,851 shares in the company, valued at $72,075,287.97. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Texas Instruments news, Director Robert E. Sanchez sold 10,539 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 20,461 shares in the company, valued at $3,580,061.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Richard K. Templeton sold 100,440 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $178.47, for a total value of $17,925,526.80. Following the transaction, the chairman now owns 403,851 shares of the company’s stock, valued at approximately $72,075,287.97. The disclosure for this sale can be found here. Over the last quarter, insiders sold 328,969 shares of company stock worth $58,427,984. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wells Fargo & Company assumed coverage on Texas Instruments in a report on Thursday, May 16th. They issued an “underweight” rating and a $150.00 target price on the stock. Benchmark raised their target price on Texas Instruments from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Mizuho raised their target price on Texas Instruments from $164.00 to $170.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Citigroup raised their target price on Texas Instruments from $167.00 to $185.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Finally, Robert W. Baird raised their price target on Texas Instruments from $125.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $183.43.

Texas Instruments Trading Up 0.3 %

Shares of Texas Instruments stock opened at $198.94 on Friday. The firm has a market cap of $181.13 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 4.31 and a beta of 0.99. The business has a 50-day moving average price of $192.03 and a 200-day moving average price of $175.93. The company has a quick ratio of 3.76, a current ratio of 4.91 and a debt-to-equity ratio of 0.76. Texas Instruments Incorporated has a twelve month low of $139.48 and a twelve month high of $206.00.

Texas Instruments (NASDAQ:TXN) last released its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.07 by $0.13. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.61 billion. Texas Instruments had a return on equity of 35.28% and a net margin of 35.16%. The firm’s revenue was down 16.4% on a year-over-year basis. During the same quarter last year, the business posted $1.85 earnings per share. Equities research analysts anticipate that Texas Instruments Incorporated will post 5.13 EPS for the current fiscal year.

Texas Instruments Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 21st. Investors of record on Wednesday, May 8th were given a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $5.20 annualized dividend and a yield of 2.61%. Texas Instruments’s dividend payout ratio is currently 81.12%.

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.