Sawgrass Asset Management LLC Lowers Stock Holdings in Texas Instruments Incorporated (NASDAQ:TXN)

Sawgrass Asset Management LLC lessened its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 3.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 59,789 shares of the semiconductor company’s stock after selling 1,861 shares during the period. Sawgrass Asset Management LLC’s holdings in Texas Instruments were worth $10,192,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of TXN. Annapolis Financial Services LLC boosted its stake in shares of Texas Instruments by 333.3% during the third quarter. Annapolis Financial Services LLC now owns 156 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 120 shares in the last quarter. Briaud Financial Planning Inc purchased a new stake in shares of Texas Instruments during the 3rd quarter worth $25,000. Tennessee Valley Asset Management Partners purchased a new position in Texas Instruments in the fourth quarter valued at about $25,000. Life Planning Partners Inc purchased a new stake in shares of Texas Instruments during the fourth quarter valued at about $26,000. Finally, AMH Equity Ltd purchased a new position in shares of Texas Instruments in the 3rd quarter worth approximately $32,000. Institutional investors own 84.99% of the company’s stock.

Texas Instruments Trading Up 0.7 %

Shares of Texas Instruments stock traded up $1.28 during trading hours on Wednesday, hitting $183.95. The company’s stock had a trading volume of 4,213,671 shares, compared to its average volume of 5,651,623. The stock has a market cap of $167.48 billion, a price-to-earnings ratio of 28.70, a P/E/G ratio of 3.81 and a beta of 1.01. Texas Instruments Incorporated has a twelve month low of $139.48 and a twelve month high of $188.12. The firm has a fifty day moving average of $171.38 and a 200-day moving average of $163.58. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.76 and a current ratio of 4.91.

Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings data on Tuesday, April 23rd. The semiconductor company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. The firm had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.61 billion. Texas Instruments had a net margin of 35.16% and a return on equity of 35.28%. The firm’s quarterly revenue was down 16.4% on a year-over-year basis. During the same quarter last year, the company posted $1.85 EPS. Research analysts forecast that Texas Instruments Incorporated will post 5.21 EPS for the current year.

Texas Instruments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 21st. Investors of record on Wednesday, May 8th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Tuesday, May 7th. Texas Instruments’s payout ratio is currently 81.12%.

Insider Activity at Texas Instruments

In other news, Director Pamela H. Patsley sold 9,990 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $179.12, for a total transaction of $1,789,408.80. Following the completion of the transaction, the director now directly owns 33,348 shares of the company’s stock, valued at $5,973,293.76. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Texas Instruments news, Director Pamela H. Patsley sold 9,990 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $179.12, for a total value of $1,789,408.80. Following the sale, the director now directly owns 33,348 shares in the company, valued at $5,973,293.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Richard K. Templeton sold 100,440 shares of the company’s 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 transaction, the chairman now directly owns 403,851 shares of the company’s stock, valued at $72,075,287.97. The disclosure for this sale can be found here. Over the last three months, insiders sold 328,969 shares of company stock worth $58,427,984. Company insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Evercore ISI boosted their price target on Texas Instruments from $213.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Stifel Nicolaus lifted their price objective on shares of Texas Instruments from $160.00 to $172.00 and gave the stock a “hold” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group raised their target price on Texas Instruments from $137.00 to $157.00 and gave the stock a “sell” rating in a research note on Wednesday, April 24th. Truist Financial lifted their target price on Texas Instruments from $165.00 to $167.00 and gave the stock a “hold” rating in a report on Wednesday, April 24th. Finally, Benchmark reiterated a “buy” rating and issued a $210.00 price objective on shares of Texas Instruments in a research note on Wednesday, April 24th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $180.74.

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.