Texas Instruments (NASDAQ:TXN) Director Jean Hobby Sells 8,758 Shares of Company Stock

Key Points

• Texas Instruments Director Jean Hobby sold 8,758 shares for about $2.71 million at an average price of $308.92, reducing her position by 65.43% to 4,627 shares.
• The company reported quarterly EPS of $2.62, beating estimates of $2.40, while revenue rose 27.7% year over year to $6.05 billion.
• Texas Instruments raised its quarterly dividend from $1.42 to $1.52 per share, equivalent to an annualized $6.08 and a 2.0% yield.

Texas Instruments Incorporated (NASDAQ:TXN - Get Free Report) Director Jean Hobby sold 8,758 shares of the stock in a transaction on Thursday, November 12th. The shares were sold at an average price of $308.92, for a total value of $2,705,521.36. Following the sale, the director owned 4,627 shares in the company, valued at approximately $1,429,372.84. This trade represents a 65.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Texas Instruments Price Performance

Texas Instruments stock traded down $8.88 during mid-day trading on Friday, hitting $303.60. 5,188,271 shares of the company were exchanged, compared to its average volume of 7,715,579. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.59 and a quick ratio of 4.05. Texas Instruments Incorporated has a 12-month low of $152.73 and a 12-month high of $334.03. The business's 50 day simple moving average is $282.88 and its two-hundred day simple moving average is $263.61. The company has a market capitalization of $277.42 billion, a P/E ratio of 39.38, a PEG ratio of 1.52 and a beta of 1.39.

Texas Instruments (NASDAQ:TXN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.62 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.22. Texas Instruments had a return on equity of 40.51% and a net margin of 34.25%. The business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same quarter last year, the company earned $1.48 earnings per share. The business's revenue for the quarter was up 27.7% compared to the same quarter last year. Analysts forecast that Texas Instruments Incorporated will post 8.97 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 10th. Stockholders of record on Friday, October 30th were paid a dividend of $1.52 per share. The ex-dividend date of this dividend was Friday, October 30th. This represents a $6.08 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from Texas Instruments's previous quarterly dividend of $1.42. Texas Instruments's dividend payout ratio is currently 78.86%.

Hedge Funds Weigh In On Texas Instruments

Several hedge funds and other institutional investors have recently made changes to their positions in TXN. Putney Financial Group LLC acquired a new stake in Texas Instruments in the 3rd quarter valued at $28,000. Scarborough Advisors LLC acquired a new position in shares of Texas Instruments during the first quarter worth about $29,000. Creative Capital Management Investments LLC boosted its position in shares of Texas Instruments by 167.5% in the third quarter. Creative Capital Management Investments LLC now owns 107 shares of the semiconductor company's stock worth $30,000 after buying an additional 67 shares during the period. Kilter Group LLC purchased a new stake in shares of Texas Instruments in the second quarter worth about $31,000. Finally, Main Street Group LTD purchased a new stake in shares of Texas Instruments in the first quarter worth about $32,000. Institutional investors and hedge funds own 84.99% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TXN. DZ Bank raised shares of Texas Instruments from a "sell" rating to a "hold" rating and set a $300.00 price target for the company in a research report on Wednesday, October 28th. Truist Financial set a $305.00 price target on shares of Texas Instruments in a report on Thursday, October 22nd. Arete Research lowered their price objective on shares of Texas Instruments from $405.00 to $381.00 and set a "buy" rating for the company in a research note on Thursday, August 20th. Wells Fargo & Company dropped their price objective on Texas Instruments from $310.00 to $300.00 and set an "equal weight" rating for the company in a report on Tuesday, October 20th. Finally, UBS Group cut their target price on Texas Instruments from $380.00 to $360.00 and set a "buy" rating on the stock in a research report on Thursday, October 22nd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $315.37.

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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