Concentric Capital Strategies LP Cuts Holdings in Texas Instruments Incorporated (NASDAQ:TXN)

Concentric Capital Strategies LP lowered its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 77.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,055 shares of the semiconductor company’s stock after selling 61,973 shares during the quarter. Concentric Capital Strategies LP’s holdings in Texas Instruments were worth $3,730,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. purchased a new stake in Texas Instruments during the third quarter valued at about $28,000. Tsfg LLC increased its position in shares of Texas Instruments by 82.0% during the 3rd quarter. Tsfg LLC now owns 182 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 82 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Texas Instruments during the 3rd quarter valued at about $39,000. FSA Wealth Management LLC purchased a new position in shares of Texas Instruments during the 3rd quarter valued at about $41,000. Finally, McClarren Financial Advisors Inc. bought a new stake in Texas Instruments in the 3rd quarter worth approximately $43,000. 84.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Ronald Kirk sold 10,539 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $203.33, for a total value of $2,142,894.87. Following the sale, the director now directly owns 14,323 shares of the company’s stock, valued at $2,912,295.59. The trade was a 42.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert E. Sanchez sold 9,990 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $208.80, for a total value of $2,085,912.00. Following the transaction, the director now directly owns 20,461 shares of the company’s stock, valued at approximately $4,272,256.80. This trade represents a 32.81 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Robert W. Baird decreased their price target on shares of Texas Instruments from $200.00 to $175.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Citigroup upgraded shares of Texas Instruments from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $200.00 to $235.00 in a research report on Wednesday, August 21st. Truist Financial cut their price target on shares of Texas Instruments from $198.00 to $190.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. Barclays decreased their price objective on Texas Instruments from $210.00 to $200.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Finally, Mizuho set a $200.00 target price on Texas Instruments in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $210.05.

Texas Instruments Stock Up 0.4 %

Shares of NASDAQ TXN opened at $201.78 on Tuesday. The firm has a fifty day simple moving average of $204.29 and a two-hundred day simple moving average of $200.89. The firm has a market capitalization of $184.07 billion, a PE ratio of 37.51, a price-to-earnings-growth ratio of 4.40 and a beta of 0.97. The company has a current ratio of 4.31, a quick ratio of 3.14 and a debt-to-equity ratio of 0.74. Texas Instruments Incorporated has a 12 month low of $154.02 and a 12 month high of $220.38.

Texas Instruments (NASDAQ:TXN) last released its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.09. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.12 billion. Texas Instruments had a net margin of 31.60% and a return on equity of 29.05%. Texas Instruments’s revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.80 earnings per share. Equities analysts expect that Texas Instruments Incorporated will post 5.08 earnings per share for the current year.

Texas Instruments Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Thursday, October 31st were given a dividend of $1.36 per share. The ex-dividend date of this dividend was Thursday, October 31st. This is a positive change from Texas Instruments’s previous quarterly dividend of $1.30. This represents a $5.44 annualized dividend and a dividend yield of 2.70%. Texas Instruments’s payout ratio is currently 101.12%.

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.