Mattern Capital Management LLC Decreases Position in Texas Instruments Incorporated (NASDAQ:TXN)

Mattern Capital Management LLC lessened its position in Texas Instruments Incorporated (NASDAQ:TXN) by 0.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 50,889 shares of the semiconductor company’s stock after selling 389 shares during the period. Texas Instruments comprises about 1.4% of Mattern Capital Management LLC’s investment portfolio, making the stock its 20th biggest holding. Mattern Capital Management LLC’s holdings in Texas Instruments were worth $9,899,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TXN. Investment Advisory Services Inc. TX ADV boosted its stake in Texas Instruments by 1.6% during the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 3,145 shares of the semiconductor company’s stock valued at $612,000 after purchasing an additional 51 shares during the last quarter. Verity Asset Management Inc. increased its holdings in Texas Instruments by 1.1% in the 1st quarter. Verity Asset Management Inc. now owns 4,841 shares of the semiconductor company’s stock worth $843,000 after buying an additional 54 shares in the last quarter. Prentice Wealth Management LLC raised its position in Texas Instruments by 2.1% in the 2nd quarter. Prentice Wealth Management LLC now owns 2,651 shares of the semiconductor company’s stock worth $516,000 after buying an additional 55 shares during the last quarter. Pure Financial Advisors LLC lifted its stake in Texas Instruments by 2.5% during the 2nd quarter. Pure Financial Advisors LLC now owns 2,228 shares of the semiconductor company’s stock valued at $433,000 after acquiring an additional 55 shares during the period. Finally, Dakota Wealth Management boosted its holdings in shares of Texas Instruments by 0.5% during the 2nd quarter. Dakota Wealth Management now owns 10,869 shares of the semiconductor company’s stock valued at $2,114,000 after acquiring an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Texas Instruments Price Performance

Texas Instruments stock opened at $204.00 on Thursday. The firm’s fifty day moving average is $200.28 and its 200 day moving average is $187.04. The company has a quick ratio of 3.49, a current ratio of 4.62 and a debt-to-equity ratio of 0.75. The company has a market cap of $185.74 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 4.66 and a beta of 0.99. Texas Instruments Incorporated has a 52-week low of $139.48 and a 52-week high of $214.66.

Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.06. The business had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.82 billion. Texas Instruments had a return on equity of 31.10% and a net margin of 33.01%. The company’s revenue for the quarter was down 15.6% on a year-over-year basis. During the same period last year, the company earned $1.87 EPS. Sell-side analysts forecast that Texas Instruments Incorporated will post 5.11 EPS for the current fiscal year.

Texas Instruments Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Wednesday, July 31st were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date was Wednesday, July 31st. Texas Instruments’s dividend payout ratio (DPR) is 81.12%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. KeyCorp increased their price objective on shares of Texas Instruments from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Wells Fargo & Company assumed coverage on Texas Instruments in a research note on Thursday, May 16th. They issued an “underweight” rating and a $150.00 price objective on the stock. Stifel Nicolaus increased their price objective on shares of Texas Instruments from $172.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Jefferies Financial Group lifted their target price on shares of Texas Instruments from $175.00 to $185.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Finally, Rosenblatt Securities increased their price target on Texas Instruments from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Texas Instruments presently has a consensus rating of “Hold” and a consensus price target of $204.67.

Insider Activity

In related news, CAO Julie C. Knecht sold 7,764 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $209.49, for a total transaction of $1,626,480.36. Following the transaction, the chief accounting officer now directly owns 11,806 shares in the company, valued at approximately $2,473,238.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Haviv Ilan sold 1,200 shares of Texas Instruments stock in a transaction on Monday, August 26th. The stock was sold at an average price of $209.44, for a total transaction of $251,328.00. Following the completion of the sale, the chief executive officer now directly owns 158,676 shares in the company, valued at $33,233,101.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Julie C. Knecht sold 7,764 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $209.49, for a total transaction of $1,626,480.36. Following the sale, the chief accounting officer now directly owns 11,806 shares of the company’s stock, valued at $2,473,238.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,558 shares of company stock valued at $3,255,323. 0.68% of the stock is currently owned by company insiders.

Texas Instruments Company Profile

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.