Everence Capital Management Inc. Decreases Stake in Texas Instruments Incorporated (NASDAQ:TXN)

Everence Capital Management Inc. lessened its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 2.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,270 shares of the semiconductor company’s stock after selling 370 shares during the quarter. Everence Capital Management Inc.’s holdings in Texas Instruments were worth $3,426,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. acquired a new position in Texas Instruments during the 3rd quarter worth approximately $28,000. Tsfg LLC raised its stake in shares of Texas Instruments by 82.0% during the third 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 period. Capital Performance Advisors LLP acquired a new position in shares of Texas Instruments during the third quarter worth $39,000. FSA Wealth Management LLC purchased a new position in shares of Texas Instruments in the third quarter valued at $41,000. Finally, McClarren Financial Advisors Inc. acquired a new stake in Texas Instruments during the 3rd quarter valued at $43,000. 84.99% of the stock is owned by institutional investors and hedge funds.

Texas Instruments Stock Performance

Shares of NASDAQ TXN traded up $2.52 during trading hours on Friday, hitting $189.47. 1,035,895 shares of the company’s stock were exchanged, compared to its average volume of 2,729,261. The stock has a market capitalization of $172.84 billion, a price-to-earnings ratio of 35.22, a PEG ratio of 4.19 and a beta of 0.97. The company’s 50-day moving average price is $198.57 and its 200-day moving average price is $199.84. The company has a debt-to-equity ratio of 0.74, a current ratio of 4.31 and a quick ratio of 3.14. Texas Instruments Incorporated has a 1-year low of $155.46 and a 1-year high of $220.38.

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

Texas Instruments Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Thursday, October 31st were issued a dividend of $1.36 per share. This is an increase from Texas Instruments’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $5.44 annualized dividend and a dividend yield of 2.87%. Texas Instruments’s payout ratio is presently 101.12%.

Insider Activity

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

Analyst Ratings Changes

A number of brokerages have weighed in on TXN. Truist Financial lowered their price objective on Texas Instruments from $198.00 to $190.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. Susquehanna reduced their price objective on shares of Texas Instruments from $250.00 to $240.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Texas Instruments in a research report on Wednesday, October 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $200.00 price target on shares of Texas Instruments in a research report on Wednesday, October 23rd. Finally, Evercore ISI boosted their price objective on Texas Instruments from $268.00 to $298.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $210.05.

Texas Instruments Company 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.