7,229 Shares in Texas Instruments Incorporated $TXN Purchased by Garner Asset Management Corp

Key Points

• Garner Asset Management opened a Texas Instruments position, buying 7,229 shares valued at about $2.16 million. Hedge funds and other institutions own nearly 85% of the company’s stock.
• Texas Instruments beat quarterly estimates with EPS of $2.62 and revenue of $6.05 billion, up 27.7% year over year. It also raised its quarterly dividend from $1.42 to $1.52 per share.
• Analysts give TXN a consensus “Moderate Buy” rating and an average $315.37 price target. Company insiders sold nearly 28,000 shares worth about $8.24 million over the past 90 days.

Garner Asset Management Corp acquired a new stake in shares of Texas Instruments Incorporated (NASDAQ:TXN - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 7,229 shares of the semiconductor company's stock, valued at approximately $2,155,000.

Other large investors have also made changes to their positions in the company. Contravisory Investment Management Inc. purchased a new stake in Texas Instruments in the 2nd quarter worth approximately $1,493,000. Diversify Advisory Services LLC grew its stake in shares of Texas Instruments by 122.1% during the 3rd quarter. Diversify Advisory Services LLC now owns 24,545 shares of the semiconductor company's stock worth $6,851,000 after purchasing an additional 13,495 shares during the period. Quantbot Technologies LP purchased a new position in shares of Texas Instruments during the 2nd quarter valued at approximately $1,962,000. Ieq Capital LLC purchased a new position in shares of Texas Instruments during the 2nd quarter valued at approximately $17,709,000. Finally, Liontrust Investment Partners LLP acquired a new position in shares of Texas Instruments in the first quarter worth about $13,056,000. 84.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Janet F. Clark sold 4,306 shares of the company's stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $302.46, for a total value of $1,302,392.76. Following the completion of the sale, the director directly owned 11,341 shares in the company, valued at $3,430,198.86. This represents a 27.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Tsedeniya Abraham sold 7,000 shares of Texas Instruments stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $264.63, for a total value of $1,852,410.00. Following the transaction, the vice president owned 23,181 shares in the company, valued at approximately $6,134,388.03. The trade was a 23.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 27,968 shares of company stock worth $8,236,892 in the last 90 days. Corporate insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TXN shares. Citigroup reiterated a "buy" rating on shares of Texas Instruments in a research report on Thursday, October 22nd. Truist Financial set a $305.00 price target on shares of Texas Instruments in a report on Thursday, October 22nd. Wall Street Zen upgraded shares of Texas Instruments from a "hold" rating to a "buy" rating in a research report on Saturday, July 18th. Wells Fargo & Company decreased their price objective on shares of Texas Instruments from $310.00 to $300.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 20th. Finally, TD Cowen dropped their target price on shares of Texas Instruments from $340.00 to $330.00 and set a "buy" rating on the stock in a research report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Texas Instruments presently has an average rating of "Moderate Buy" and an average price target of $315.37.

Texas Instruments Stock Up 3.5%

Shares of TXN opened at $312.48 on Wednesday. Texas Instruments Incorporated has a one year low of $152.73 and a one year high of $334.03. The stock has a market capitalization of $285.53 billion, a price-to-earnings ratio of 40.53, a PEG ratio of 1.50 and a beta of 1.39. The stock has a 50 day moving average price of $277.49 and a 200 day moving average price of $259.93. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.05 and a current ratio of 5.59.

Texas Instruments (NASDAQ:TXN - Get Free Report) last issued its earnings results on Wednesday, October 21st. The semiconductor company reported $2.62 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.22. The business had revenue of $6.05 billion during the quarter, compared to analysts' expectations of $5.94 billion. Texas Instruments had a net margin of 34.25% and a return on equity of 40.51%. The company's quarterly revenue was up 27.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.48 earnings per share. Equities research analysts forecast that Texas Instruments Incorporated will post 8.89 earnings per share for the current fiscal year.

Texas Instruments Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Friday, October 30th will be issued a $1.52 dividend. This represents a $6.08 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, October 30th. This is a positive change from Texas Instruments's previous quarterly dividend of $1.42. Texas Instruments's payout ratio is currently 78.86%.

Texas Instruments Company 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.

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