Primecap Management Co. CA Has $3.08 Billion Position in Texas Instruments Incorporated (NASDAQ:TXN)

Primecap Management Co. CA cut its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 2.9% during the third quarter, Holdings Channel reports. The institutional investor owned 14,903,760 shares of the semiconductor company’s stock after selling 438,144 shares during the quarter. Texas Instruments comprises 2.3% of Primecap Management Co. CA’s holdings, making the stock its 11th biggest position. Primecap Management Co. CA’s holdings in Texas Instruments were worth $3,078,670,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Texas Instruments by 3.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 879,620 shares of the semiconductor company’s stock valued at $181,703,000 after buying an additional 28,623 shares in the last quarter. Cornerstone Advisors LLC increased its stake in Texas Instruments by 15.9% in the third quarter. Cornerstone Advisors LLC now owns 42,200 shares of the semiconductor company’s stock valued at $8,717,000 after acquiring an additional 5,800 shares during the period. Citizens Financial Group Inc. RI raised its position in Texas Instruments by 1.7% in the third quarter. Citizens Financial Group Inc. RI now owns 37,653 shares of the semiconductor company’s stock worth $7,778,000 after purchasing an additional 646 shares in the last quarter. Darwin Wealth Management LLC bought a new position in Texas Instruments during the third quarter worth about $45,000. Finally, Portfolio Design Labs LLC acquired a new stake in Texas Instruments during the third quarter valued at approximately $2,046,000. Institutional investors and hedge funds own 84.99% of the company’s stock.

Wall Street Analysts Forecast Growth

TXN has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Texas Instruments from $195.00 to $230.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Citigroup raised Texas Instruments from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $200.00 to $235.00 in a report on Wednesday, August 21st. Benchmark reiterated a “buy” rating and set a $230.00 target price on shares of Texas Instruments in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Texas Instruments from $160.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Finally, Barclays dropped their price objective on shares of Texas Instruments from $210.00 to $200.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Texas Instruments presently has a consensus rating of “Hold” and a consensus target price of $206.95.

Insider Activity at Texas Instruments

In related news, CAO Julie C. Knecht sold 7,764 shares of Texas Instruments stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $209.49, for a total value of $1,626,480.36. Following the sale, the chief accounting officer now owns 11,806 shares of the company’s stock, valued at approximately $2,473,238.94. This trade represents a 39.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Haviv Ilan sold 1,200 shares of Texas Instruments stock in a transaction that occurred on Monday, August 26th. The shares were 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 owns 158,676 shares in the company, valued at $33,233,101.44. This trade represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,548 shares of company stock worth $5,341,235. 0.68% of the stock is owned by company insiders.

Texas Instruments Stock Down 1.4 %

Texas Instruments stock opened at $198.19 on Thursday. The firm has a market capitalization of $180.79 billion, a price-to-earnings ratio of 36.84, a PEG ratio of 4.40 and a beta of 0.99. The company’s 50 day simple moving average is $204.45 and its 200 day simple moving average is $200.15. The company has a debt-to-equity ratio of 0.74, a current ratio of 4.31 and a quick ratio of 3.14. Texas Instruments Incorporated has a fifty-two week low of $151.27 and a fifty-two week high of $220.38.

Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.09. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.12 billion. Texas Instruments had a net margin of 31.60% and a return on equity of 29.05%. The firm’s revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.80 EPS. As a group, sell-side analysts anticipate that Texas Instruments Incorporated will post 5.08 EPS for the current year.

Texas Instruments Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Thursday, October 31st were given a dividend of $1.36 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.74%. This is a positive change from Texas Instruments’s previous quarterly dividend of $1.30. Texas Instruments’s dividend payout ratio (DPR) is currently 101.12%.

Texas Instruments 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.