Texas Instruments Incorporated $TXN Stake Cut by GRIMES & Co WEALTH MANAGEMENT LLC

Key Points

• GRIMES & Co. cut its Texas Instruments stake by 18.7% in the third quarter, selling 3,263 shares and ending the period with 14,165 shares worth about $3.97 million.
• Texas Instruments reported quarterly earnings of $2.62 per share, beating estimates of $2.40, while revenue rose 27.7% year over year to $6.05 billion.
• The company raised its quarterly dividend from $1.42 to $1.52 per share, equivalent to $6.08 annually and a 1.9% yield.

GRIMES & Co WEALTH MANAGEMENT LLC decreased its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN - Free Report) by 18.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 14,165 shares of the semiconductor company's stock after selling 3,263 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC's holdings in Texas Instruments were worth $3,967,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. BlackRock Inc. bought a new position in shares of Texas Instruments in the 2nd quarter worth $24,607,313,000. Bank of New York Mellon Corp purchased a new stake in shares of Texas Instruments during the 2nd quarter worth $4,488,666,000. Bank of America Corp DE bought a new stake in Texas Instruments during the second quarter valued at about $3,700,842,000. Primecap Management Co. CA bought a new stake in Texas Instruments during the second quarter valued at about $2,538,063,000. Finally, Legal & General Group Plc bought a new stake in Texas Instruments during the second quarter valued at about $1,918,277,000. Institutional investors own 84.99% of the company's stock.

Texas Instruments Stock Performance

Shares of TXN stock opened at $312.48 on Wednesday. The firm has a market capitalization of $285.53 billion, a price-to-earnings ratio of 40.53, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.59 and a quick ratio of 4.05. The business has a fifty day moving average of $277.49 and a 200 day moving average of $259.93. Texas Instruments Incorporated has a 1 year low of $152.73 and a 1 year high of $334.03.

Texas Instruments (NASDAQ:TXN - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.94 billion. Texas Instruments had a return on equity of 40.51% and a net margin of 34.25%. The company's quarterly revenue was up 27.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.48 EPS. As a group, research analysts expect that Texas Instruments Incorporated will post 8.89 earnings per share for the current year.

Texas Instruments Increases Dividend

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

Insider Activity

In related news, Director Janet 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 sale, the director 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Sanchez sold 6,065 shares of the stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $302.21, for a total transaction of $1,832,903.65. Following the completion of the transaction, the director owned 21,600 shares in the company, valued at approximately $6,527,736. This trade represents a 21.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 27,968 shares of company stock valued at $8,236,892. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on TXN shares. Rosenblatt Securities lifted their target price on Texas Instruments from $350.00 to $360.00 and gave the company a "buy" rating in a research note on Thursday, October 22nd. Mizuho decreased their price target on shares of Texas Instruments from $305.00 to $290.00 and set a "neutral" rating for the company in a research report on Thursday, October 22nd. KeyCorp raised their price target on shares of Texas Instruments from $390.00 to $400.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Benchmark lifted their price objective on shares of Texas Instruments from $315.00 to $360.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Finally, Wells Fargo & Company reduced their price objective on shares of Texas Instruments from $310.00 to $300.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 20th. One investment 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $315.37.

About Texas Instruments

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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