Manning & Napier Group LLC Reduces Position in Texas Instruments Incorporated (NASDAQ:TXN)

Manning & Napier Group LLC lowered its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 15.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 168,534 shares of the semiconductor company’s stock after selling 29,789 shares during the period. Manning & Napier Group LLC’s holdings in Texas Instruments were worth $28,728,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AXQ Capital LP boosted its holdings in Texas Instruments by 64.3% in the third quarter. AXQ Capital LP now owns 4,600 shares of the semiconductor company’s stock valued at $731,000 after acquiring an additional 1,800 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services boosted its holdings in Texas Instruments by 0.4% in the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 42,134 shares of the semiconductor company’s stock valued at $7,182,000 after acquiring an additional 155 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of Texas Instruments by 39.9% during the third quarter. Verdence Capital Advisors LLC now owns 8,405 shares of the semiconductor company’s stock worth $1,336,000 after purchasing an additional 2,397 shares in the last quarter. Salem Investment Counselors Inc. lifted its stake in shares of Texas Instruments by 2.2% during the fourth quarter. Salem Investment Counselors Inc. now owns 8,232 shares of the semiconductor company’s stock worth $1,403,000 after purchasing an additional 177 shares in the last quarter. Finally, Kestra Advisory Services LLC lifted its stake in shares of Texas Instruments by 4.9% during the third quarter. Kestra Advisory Services LLC now owns 121,907 shares of the semiconductor company’s stock worth $19,384,000 after purchasing an additional 5,673 shares in the last quarter. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Insider Activity

In related news, Director Mark A. Blinn sold 1,744 shares of Texas Instruments stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $159.85, for a total transaction of $278,778.40. Following the sale, the director now directly owns 11,693 shares of the company’s stock, valued at $1,869,126.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.68% of the stock is currently owned by company insiders.

Texas Instruments Stock Up 0.8 %

NASDAQ TXN traded up $1.34 during trading on Friday, hitting $174.21. 4,417,751 shares of the company traded hands, compared to its average volume of 5,881,871. Texas Instruments Incorporated has a 12 month low of $139.48 and a 12 month high of $188.12. The business has a fifty day simple moving average of $166.77 and a 200 day simple moving average of $160.95. The company has a current ratio of 4.55, a quick ratio of 3.35 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $158.54 billion, a P/E ratio of 24.68, a PEG ratio of 3.72 and a beta of 1.04.

Texas Instruments (NASDAQ:TXN) last posted its earnings results on Monday, January 22nd. The semiconductor company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.03. Texas Instruments had a return on equity of 39.96% and a net margin of 37.16%. The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same period last year, the company earned $2.13 earnings per share. The business’s revenue was down 12.7% compared to the same quarter last year. As a group, sell-side analysts predict that Texas Instruments Incorporated will post 5.16 EPS for the current year.

Texas Instruments Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 13th. Stockholders of record on Wednesday, January 31st were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 2.98%. The ex-dividend date was Tuesday, January 30th. Texas Instruments’s dividend payout ratio is currently 73.65%.

Analyst Ratings Changes

TXN has been the topic of a number of recent research reports. KeyCorp boosted their price objective on Texas Instruments from $180.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Truist Financial dropped their target price on Texas Instruments from $166.00 to $165.00 and set a “hold” rating on the stock in a research report on Friday, February 9th. Rosenblatt Securities reaffirmed a “buy” rating and set a $190.00 target price on shares of Texas Instruments in a research report on Tuesday, January 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $170.00 target price on shares of Texas Instruments in a research report on Monday, March 4th. Finally, UBS Group upgraded Texas Instruments from a “neutral” rating to a “buy” rating and upped their price objective for the company from $170.00 to $195.00 in a research note on Friday, January 19th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Texas Instruments presently has an average rating of “Hold” and an average price target of $173.89.

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.