Steel Grove Capital Advisors LLC Lowers Stake in Texas Instruments Incorporated (NASDAQ:TXN)

Steel Grove Capital Advisors LLC trimmed its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 11.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,821 shares of the semiconductor company’s stock after selling 1,447 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Texas Instruments were worth $2,105,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in TXN. Investment Advisory Services Inc. TX ADV lifted its stake in Texas Instruments by 1.6% during the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 3,145 shares of the semiconductor company’s stock worth $612,000 after acquiring an additional 51 shares in the last quarter. Verity Asset Management Inc. lifted its position in shares of Texas Instruments by 1.1% during the first quarter. Verity Asset Management Inc. now owns 4,841 shares of the semiconductor company’s stock worth $843,000 after purchasing an additional 54 shares in the last quarter. Prentice Wealth Management LLC boosted its stake in shares of Texas Instruments by 2.1% in the second quarter. Prentice Wealth Management LLC now owns 2,651 shares of the semiconductor company’s stock valued at $516,000 after purchasing an additional 55 shares during the period. Pure Financial Advisors LLC grew its holdings in shares of Texas Instruments by 2.5% in the second quarter. Pure Financial Advisors LLC now owns 2,228 shares of the semiconductor company’s stock valued at $433,000 after purchasing an additional 55 shares in the last quarter. Finally, Bell Investment Advisors Inc lifted its holdings in Texas Instruments by 14.1% during the 2nd quarter. Bell Investment Advisors Inc now owns 446 shares of the semiconductor company’s stock worth $87,000 after buying an additional 55 shares in the last quarter. 84.99% of the stock is currently owned by institutional investors and hedge funds.

Texas Instruments Trading Down 2.1 %

Shares of TXN stock opened at $203.30 on Monday. The company has a market capitalization of $185.10 billion, a P/E ratio of 31.72, a price-to-earnings-growth ratio of 4.31 and a beta of 0.99. The company has a current ratio of 4.62, a quick ratio of 3.49 and a debt-to-equity ratio of 0.75. The business’s 50 day moving average is $200.78 and its two-hundred day moving average is $190.11. Texas Instruments Incorporated has a twelve month low of $139.48 and a twelve month high of $214.66.

Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings data 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 firm had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same period last year, the firm posted $1.87 EPS. Texas Instruments’s quarterly revenue was down 15.6% on a year-over-year basis. Equities analysts forecast that Texas Instruments Incorporated will post 5.11 EPS for the current year.

Texas Instruments Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st will be issued a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Thursday, October 31st. This is a positive change from Texas Instruments’s previous quarterly dividend of $1.30. Texas Instruments’s payout ratio is currently 81.12%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TXN. Barclays increased their price objective on Texas Instruments from $190.00 to $210.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. KeyCorp lifted their price target on shares of Texas Instruments from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Benchmark reaffirmed a “buy” rating and set a $230.00 price objective on shares of Texas Instruments in a research report on Wednesday, July 24th. Jefferies Financial Group increased their target price on Texas Instruments from $175.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Finally, Evercore ISI lifted their price target on Texas Instruments from $255.00 to $268.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. 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 stock. According to MarketBeat, Texas Instruments currently has a consensus rating of “Hold” and a consensus target price of $204.67.

Insiders Place Their Bets

In other news, CAO Julie C. Knecht sold 7,764 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $209.49, for a total value of $1,626,480.36. Following the completion of the transaction, the chief accounting officer now owns 11,806 shares in the company, valued at approximately $2,473,238.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Shanon J. Leonard sold 2,816 shares of Texas Instruments stock in a transaction dated 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 sale, the vice president now directly owns 24,112 shares in the company, valued at $5,037,237.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Julie C. Knecht sold 7,764 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $209.49, for a total transaction of $1,626,480.36. Following the transaction, the chief accounting officer now directly owns 11,806 shares in the company, valued at approximately $2,473,238.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,558 shares of company stock worth $3,255,323. Company insiders own 0.68% of the company’s stock.

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.