InterOcean Capital Group LLC Reduces Stock Position in Texas Instruments Incorporated (NASDAQ:TXN)

InterOcean Capital Group LLC lessened its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 8.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,718 shares of the semiconductor company’s stock after selling 452 shares during the quarter. InterOcean Capital Group LLC’s holdings in Texas Instruments were worth $804,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Texas Instruments by 5.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,613 shares of the semiconductor company’s stock worth $445,000 after buying an additional 144 shares during the last quarter. Western Pacific Wealth Management LP boosted its holdings in shares of Texas Instruments by 67.9% in the fourth quarter. Western Pacific Wealth Management LP now owns 507 shares of the semiconductor company’s stock worth $86,000 after buying an additional 205 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Texas Instruments by 10.1% in the fourth quarter. Franklin Resources Inc. now owns 11,928,210 shares of the semiconductor company’s stock worth $2,033,283,000 after buying an additional 1,095,303 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Texas Instruments by 8.8% in the fourth quarter. Assetmark Inc. now owns 223,184 shares of the semiconductor company’s stock worth $38,044,000 after buying an additional 18,094 shares during the last quarter. Finally, STF Management LP boosted its holdings in shares of Texas Instruments by 5.0% in the fourth quarter. STF Management LP now owns 15,483 shares of the semiconductor company’s stock worth $2,639,000 after buying an additional 734 shares during the last quarter. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Texas Instruments Trading Down 1.4 %

Shares of TXN traded down $2.86 during trading hours on Thursday, reaching $199.68. 1,467,836 shares of the company traded hands, compared to its average volume of 5,598,751. The firm has a market cap of $181.80 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 4.28 and a beta of 1.01. Texas Instruments Incorporated has a 12-month low of $139.48 and a 12-month high of $203.62. The company has a current ratio of 4.91, a quick ratio of 3.76 and a debt-to-equity ratio of 0.76. The stock’s fifty day moving average price is $176.10 and its 200 day moving average price is $167.16.

Texas Instruments (NASDAQ:TXN) last released its quarterly earnings data on Tuesday, April 23rd. The semiconductor company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. Texas Instruments had a net margin of 35.16% and a return on equity of 35.28%. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same period in the prior year, the firm earned $1.85 earnings per share. The firm’s revenue for the quarter was down 16.4% compared to the same quarter last year. Sell-side analysts forecast that Texas Instruments Incorporated will post 5.17 earnings per share for the current year.

Texas Instruments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 21st. Investors of record on Wednesday, May 8th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Tuesday, May 7th. Texas Instruments’s dividend payout ratio (DPR) is presently 81.12%.

Insider Buying and Selling

In related news, Chairman Richard K. Templeton sold 104,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chairman now directly owns 403,851 shares of the company’s stock, valued at $72,160,096.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Chairman Richard K. Templeton sold 104,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $178.68, for a total transaction of $18,582,720.00. Following the transaction, the chairman now owns 403,851 shares in the company, valued at $72,160,096.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert E. Sanchez sold 10,539 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 20,461 shares in the company, valued at approximately $3,580,061.17. The disclosure for this sale can be found here. Insiders sold a total of 328,969 shares of company stock valued at $58,427,984 over the last three months. 0.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

TXN has been the topic of a number of research reports. Mizuho raised their price objective on shares of Texas Instruments from $164.00 to $170.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Citigroup lifted their price target on shares of Texas Instruments from $167.00 to $185.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Jefferies Financial Group downgraded shares of Texas Instruments from a “buy” rating to a “hold” rating and lowered their price target for the company from $200.00 to $175.00 in a report on Monday, May 13th. Wells Fargo & Company started coverage on shares of Texas Instruments in a report on Thursday, May 16th. They set an “underweight” rating and a $150.00 price target on the stock. Finally, Oppenheimer reiterated a “market perform” rating on shares of Texas Instruments in a research report on Wednesday, April 24th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Texas Instruments has a consensus rating of “Hold” and an average price target of $182.48.

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.