Texas Instruments Incorporated $TXN Stock: Busey Bank Trims Position

Busey Bank lowered its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 2.5% in the third quarter, Holdings Channel reports. The firm owned 68,538 shares of the semiconductor company’s stock after selling 1,787 shares during the quarter. Busey Bank’s holdings in Texas Instruments were worth $19,197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TXN. Scarborough Advisors LLC purchased a new position in Texas Instruments during the 1st quarter worth $29,000. Kilter Group LLC acquired a new stake in shares of Texas Instruments in the 2nd quarter worth $31,000. Main Street Group LTD acquired a new stake in shares of Texas Instruments in the 1st quarter worth $32,000. Nvwm LLC boosted its holdings in shares of Texas Instruments by 550.0% in the third quarter. Nvwm LLC now owns 117 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 99 shares in the last quarter. Finally, Reyes Financial Architecture Inc. purchased a new stake in shares of Texas Instruments in the third quarter valued at about $36,000. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Texas Instruments Stock Performance

TXN opened at $308.91 on Wednesday. The stock’s 50 day simple moving average is $273.30 and its 200 day simple moving average is $256.99. Texas Instruments Incorporated has a 1-year low of $152.73 and a 1-year high of $334.03.

Texas Instruments (NASDAQ:TXN) last released its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.22. The firm had revenue of $6.05 billion during the quarter, compared to analysts’ expectations of $5.94 billion. The business’s revenue for the quarter was up 27.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.48 earnings per share. On average, equities analysts expect that Texas Instruments Incorporated will post 8.85 EPS for the current year.

Texas Instruments Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Friday, October 30th will be given a dividend of $1.52 per share. The ex-dividend date is Friday, October 30th. This is a positive change from Texas Instruments’s previous quarterly dividend of $1.42. This represents a $6.08 dividend on an annualized basis and a yield of 2.0%.

Texas Instruments News Roundup

Here are the key news stories impacting Texas Instruments this week:

• Positive Sentiment: Earnings beat and solid outlook: Texas Instruments reported third-quarter revenue of $6.055 billion and diluted EPS of $2.62, exceeding estimates of $5.94 billion and $2.40, respectively. Revenue increased 27.7% year over year. Fourth-quarter guidance of $5.80 billion-$6.30 billion in revenue and $2.45-$2.79 in EPS reinforced expectations for continued demand. Earnings Beat Might Change Texas Instruments Stock Narrative
• Positive Sentiment: Data-center demand remains strong: CEO commentary indicated that data-center demand is still growing rather than slowing, supporting optimism for TXN’s analog and embedded-chip businesses. Texas Instruments CEO sees no slowdown in data center demand
• Positive Sentiment: Analyst estimates and technical momentum improved: Earnings-estimate revisions moved higher, while TXN broke above its 20-day moving average and cleared an early technical buy point. These signals may attract momentum-oriented investors. Earnings Estimates Moving Higher for Texas Instruments
• Positive Sentiment: Institutional demand: Texas Instruments reportedly received $84.6 million in net ETF buying on October 23, providing an additional source of market support. Texas Instruments Sees $84.6 Million in Net ETF Buying

Insiders Place Their Bets

In other news, VP Tsedeniya Abraham sold 7,000 shares of Texas Instruments stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $264.63, for a total transaction of $1,852,410.00. Following the completion of the transaction, the vice president owned 23,181 shares of the company’s stock, valued at $6,134,388.03. The trade was a 23.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

TXN has been the topic of a number of recent analyst reports. The Goldman Sachs Group reiterated a “sell” rating and set a $250.00 price target on shares of Texas Instruments in a research note on Thursday, October 22nd. Weiss Ratings downgraded shares of Texas Instruments from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Texas Instruments from $340.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday, October 22nd. Zacks Research raised Texas Instruments from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 22nd. Finally, Jefferies Financial Group boosted their target price on Texas Instruments from $260.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Texas Instruments presently has an average rating of “Hold” and a consensus target price of $315.90.

Texas Instruments Profile

Texas Instruments Incorporated (NASDAQ:TXN) designs and manufactures analog and embedded semiconductor products used in industrial, automotive, personal electronics, communications equipment, and enterprise systems. Its analog products help manage power, sense and measure real-world signals, and support signal processing, while its embedded processing products provide computing and control functions within electronic systems.

The company offers a broad portfolio of semiconductors, including power-management devices, amplifiers, data converters, microcontrollers, processors, and connectivity products.