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

Steel Grove Capital Advisors LLC reduced its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 11.8% during the 2nd quarter, HoldingsChannel reports. The fund 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 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in Texas Instruments by 0.6% during the first quarter. Vanguard Group Inc. now owns 90,572,576 shares of the semiconductor company’s stock worth $15,778,648,000 after buying an additional 536,206 shares during the period. Capital Research Global Investors boosted its position in Texas Instruments by 4.7% during 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 during the period. Van ECK Associates Corp increased its holdings in Texas Instruments by 6.2% in the 2nd quarter. Van ECK Associates Corp now owns 5,955,353 shares of the semiconductor company’s stock valued at $1,158,495,000 after purchasing an additional 348,528 shares in the last quarter. FIL Ltd raised its position in Texas Instruments by 6.6% in the fourth quarter. FIL Ltd now owns 4,861,924 shares of the semiconductor company’s stock valued at $828,764,000 after purchasing an additional 301,735 shares during the period. Finally, Fayez Sarofim & Co lifted its stake in shares of Texas Instruments by 2.5% during the first quarter. Fayez Sarofim & Co now owns 4,271,960 shares of the semiconductor company’s stock worth $744,218,000 after purchasing an additional 104,806 shares in the last quarter. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Texas Instruments Price Performance

NASDAQ TXN opened at $203.30 on Monday. The firm has a market capitalization of $185.10 billion, a PE ratio of 31.72, a P/E/G ratio of 4.31 and a beta of 0.99. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.62 and a quick ratio of 3.49. Texas Instruments Incorporated has a 12 month low of $139.48 and a 12 month high of $214.66. The company’s 50 day simple moving average is $200.78 and its 200 day simple moving average is $190.11.

Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06. Texas Instruments had a return on equity of 31.10% and a net margin of 33.01%. The company had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the previous year, the business earned $1.87 EPS. The company’s quarterly revenue was down 15.6% compared to the same quarter last year. As a group, equities research analysts forecast that Texas Instruments Incorporated will post 5.11 EPS for the current fiscal year.

Texas Instruments Increases Dividend

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

Insider Buying and Selling

In related news, CAO Julie C. Knecht sold 7,764 shares of Texas Instruments stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $209.49, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Mohammad Yunus sold 3,778 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $208.90, for a total value of $789,224.20. Following the completion of the sale, the vice president now owns 28,894 shares in the company, valued at $6,035,956.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Julie C. Knecht sold 7,764 shares of Texas Instruments stock in a transaction on 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 transaction, the chief accounting officer now owns 11,806 shares in the company, valued at approximately $2,473,238.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,558 shares of company stock worth $3,255,323. Corporate insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. The Goldman Sachs Group boosted their price target on Texas Instruments from $157.00 to $176.00 and gave the stock a “sell” rating in a research report on Wednesday, July 24th. Morgan Stanley upped their target price on shares of Texas Instruments from $150.00 to $156.00 and gave the company an “underweight” rating in a research note on Thursday, July 11th. Jefferies Financial Group lifted their price target on shares of Texas Instruments from $175.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Susquehanna upped their price objective on shares of Texas Instruments from $205.00 to $250.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Finally, Evercore ISI lifted their target price on Texas Instruments from $255.00 to $268.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Three investment 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.com, Texas Instruments has a consensus rating of “Hold” and a consensus price target of $204.67.

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.