Mackenzie Financial Corp Lowers Holdings in Texas Instruments Incorporated (NASDAQ:TXN)

Mackenzie Financial Corp cut its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 22.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 674,736 shares of the semiconductor company’s stock after selling 189,914 shares during the period. Mackenzie Financial Corp’s holdings in Texas Instruments were worth $131,256,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Richardson Financial Services Inc. bought a new position in Texas Instruments in the fourth quarter worth approximately $26,000. Scarborough Advisors LLC purchased a new position in Texas Instruments in the fourth quarter valued at about $26,000. Westend Capital Management LLC bought a new position in Texas Instruments in the first quarter worth about $31,000. Norwood Financial Corp purchased a new stake in Texas Instruments during the first quarter valued at approximately $32,000. Finally, Fortis Group Advisors LLC boosted its position in shares of Texas Instruments by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 196 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 98 shares in the last quarter. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Texas Instruments

In other Texas Instruments news, VP Mohammad Yunus sold 3,778 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 28,894 shares of the company’s stock, valued at $6,035,956.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Mohammad Yunus sold 3,778 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $208.90, for a total value of $789,224.20. Following the completion of the transaction, the vice president now owns 28,894 shares of the company’s stock, valued at $6,035,956.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Julie C. Knecht sold 7,764 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $209.49, for a total transaction of $1,626,480.36. Following the sale, the chief accounting officer now directly owns 11,806 shares in the company, valued at $2,473,238.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,558 shares of company stock worth $3,255,323. 0.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TXN has been the topic of a number of research analyst reports. Robert W. Baird boosted their price target on Texas Instruments from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Barclays lifted their price target on Texas Instruments from $190.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Jefferies Financial Group increased their price target 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. KeyCorp increased their price objective 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. Finally, Truist Financial decreased their target price on shares of Texas Instruments from $203.00 to $198.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. 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 company’s stock. Based on data from MarketBeat.com, Texas Instruments currently has a consensus rating of “Hold” and an average price target of $204.67.

Texas Instruments Stock Performance

TXN opened at $209.14 on Friday. 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 firm’s 50-day moving average price is $201.07 and its 200 day moving average price is $191.01. The firm has a market capitalization of $190.96 billion, a PE ratio of 32.63, a PEG ratio of 4.46 and a beta of 0.99. Texas Instruments Incorporated has a twelve month low of $139.48 and a twelve month high of $214.66.

Texas Instruments (NASDAQ:TXN) last issued its earnings results on Tuesday, July 23rd. The semiconductor company reported $1.22 earnings per share (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 business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same period last year, the company earned $1.87 EPS. The company’s revenue for the quarter was down 15.6% on a year-over-year basis. As a group, sell-side analysts expect that Texas Instruments Incorporated will post 5.11 EPS for the current fiscal year.

Texas Instruments Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Thursday, October 31st will be given a $1.36 dividend. This represents a $5.44 annualized dividend and a yield of 2.60%. This is a positive change from Texas Instruments’s previous quarterly dividend of $1.30. The ex-dividend date is Thursday, October 31st. Texas Instruments’s dividend payout ratio is presently 81.12%.

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.