Provence Wealth Management Group Raises Stock Holdings in Texas Instruments Incorporated (NASDAQ:TXN)

Provence Wealth Management Group increased its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 42.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,096 shares of the semiconductor company’s stock after purchasing an additional 628 shares during the quarter. Provence Wealth Management Group’s holdings in Texas Instruments were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Sapient Capital LLC purchased a new position in shares of Texas Instruments during the 4th quarter worth $29,843,000. W Advisors LLC purchased a new position in shares of Texas Instruments during the 4th quarter worth about $201,000. Axxcess Wealth Management LLC boosted its position in shares of Texas Instruments by 26.9% in the fourth quarter. Axxcess Wealth Management LLC now owns 8,494 shares of the semiconductor company’s stock worth $1,448,000 after acquiring an additional 1,798 shares during the last quarter. M&T Bank Corp grew its holdings in Texas Instruments by 47.4% in the fourth quarter. M&T Bank Corp now owns 238,302 shares of the semiconductor company’s stock valued at $40,621,000 after purchasing an additional 76,601 shares during the period. Finally, Malaga Cove Capital LLC acquired a new position in Texas Instruments during the fourth quarter worth approximately $280,000. Institutional investors and hedge funds own 84.99% of the company’s stock.

Texas Instruments Price Performance

NASDAQ TXN traded up $3.11 on Friday, reaching $178.91. 4,545,090 shares of the stock traded hands, compared to its average volume of 6,059,944. Texas Instruments Incorporated has a 12 month low of $139.48 and a 12 month high of $188.12. The company has a market cap of $162.89 billion, a price-to-earnings ratio of 27.91, a P/E/G ratio of 3.75 and a beta of 1.01. The firm’s fifty day simple moving average is $170.68 and its 200 day simple moving average is $162.98. The company has a quick ratio of 3.76, a current ratio of 4.91 and a debt-to-equity ratio of 0.76.

Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.61 billion. Texas Instruments had a net margin of 35.16% and a return on equity of 35.28%. Texas Instruments’s revenue was down 16.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.85 EPS. As a group, research analysts predict that Texas Instruments Incorporated will post 5.21 EPS for the current fiscal year.

Texas Instruments Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 21st. Investors of record on Wednesday, May 8th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Tuesday, May 7th. Texas Instruments’s dividend payout ratio is 81.12%.

Analysts Set New Price Targets

Several brokerages have commented on TXN. Evercore ISI upped 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. Morgan Stanley boosted their price objective on shares of Texas Instruments from $138.00 to $146.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 24th. Oppenheimer reissued a “market perform” rating on shares of Texas Instruments in a research note on Wednesday, April 24th. Susquehanna boosted their price target on Texas Instruments from $200.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 24th. Finally, Stifel Nicolaus raised their target price on Texas Instruments from $160.00 to $172.00 and gave the company a “hold” rating in a research note on Wednesday, April 24th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Texas Instruments presently has an average rating of “Hold” and a consensus target price of $180.74.

Insider Activity

In other news, Chairman Richard K. Templeton sold 104,000 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $178.68, for a total value of $18,582,720.00. Following the transaction, the chairman now owns 403,851 shares in the company, valued at approximately $72,160,096.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robert E. Sanchez sold 10,539 shares of Texas Instruments stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $174.97, for a total transaction of $1,844,008.83. Following the completion of the sale, the director now directly owns 20,461 shares in the company, valued at approximately $3,580,061.17. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Richard K. Templeton sold 104,000 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $178.68, for a total value of $18,582,720.00. Following the transaction, the chairman now owns 403,851 shares in the company, valued at approximately $72,160,096.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 228,529 shares of company stock worth $40,502,458. 0.68% of the stock is owned by corporate insiders.

Texas Instruments Profile

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.