Vestcor Inc Sells 8,299 Shares of Texas Instruments Incorporated (NASDAQ:TXN)

Vestcor Inc reduced its holdings in Texas Instruments Incorporated (NASDAQ:TXN - Free Report) by 16.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,076 shares of the semiconductor company's stock after selling 8,299 shares during the period. Vestcor Inc's holdings in Texas Instruments were worth $8,485,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of Texas Instruments during the 3rd quarter worth about $28,000. Tsfg LLC raised its stake in shares of Texas Instruments by 82.0% during the 3rd quarter. Tsfg LLC now owns 182 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 82 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Texas Instruments during the 3rd quarter worth about $39,000. FSA Wealth Management LLC purchased a new stake in shares of Texas Instruments during the 3rd quarter worth about $41,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Texas Instruments during the 3rd quarter worth about $43,000. 84.99% of the stock is owned by hedge funds and other institutional investors.

Texas Instruments Trading Down 1.7 %

Shares of TXN stock traded down $3.27 on Tuesday, reaching $190.18. 6,060,237 shares of the stock were exchanged, compared to its average volume of 5,553,795. The stock has a market cap of $173.49 billion, a PE ratio of 35.35, a P/E/G ratio of 4.22 and a beta of 0.97. Texas Instruments Incorporated has a one year low of $155.46 and a one year high of $220.38. The company has a debt-to-equity ratio of 0.74, a current ratio of 4.31 and a quick ratio of 3.14. The stock has a 50 day moving average price of $203.02 and a 200 day moving average price of $200.80.

Texas Instruments (NASDAQ:TXN - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.09. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.12 billion. Texas Instruments had a return on equity of 29.05% and a net margin of 31.60%. The firm's revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.80 earnings per share. Equities research analysts forecast that Texas Instruments Incorporated will post 5.08 EPS for the current fiscal year.

Texas Instruments Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st were issued a $1.36 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This is a positive change from Texas Instruments's previous quarterly dividend of $1.30. This represents a $5.44 annualized dividend and a yield of 2.86%. Texas Instruments's dividend payout ratio (DPR) is 101.12%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Morgan Stanley raised their price target on Texas Instruments from $154.00 to $167.00 and gave the stock an "underweight" rating in a research note on Wednesday, October 23rd. Truist Financial cut their price objective on Texas Instruments from $198.00 to $190.00 and set a "hold" rating on the stock in a research note on Wednesday, October 23rd. Wells Fargo & Company initiated coverage on Texas Instruments in a research note on Friday, November 22nd. They issued an "equal weight" rating and a $215.00 price objective on the stock. Robert W. Baird cut their price objective on Texas Instruments from $200.00 to $175.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 23rd. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $250.00 price objective on shares of Texas Instruments in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $210.05.

Insider Transactions at Texas Instruments

In related news, Director Ronald Kirk sold 10,539 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $203.33, for a total transaction of $2,142,894.87. Following the sale, the director now directly owns 14,323 shares in the company, valued at $2,912,295.59. This trade represents a 42.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert E. Sanchez sold 9,990 shares of the company's stock in a transaction on Friday, October 25th. The stock was sold at an average price of $208.80, for a total transaction of $2,085,912.00. Following the completion of the transaction, the director now directly owns 20,461 shares of the company's stock, valued at approximately $4,272,256.80. The trade was a 32.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.68% of the company's stock.

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.