Assenagon Asset Management S.A. Purchases 4,337,295 Shares of Texas Instruments Incorporated (NASDAQ:TXN)

Assenagon Asset Management S.A. increased its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 948.4% in the 4th quarter, HoldingsChannel reports. The fund owned 4,794,646 shares of the semiconductor company’s stock after acquiring an additional 4,337,295 shares during the period. Texas Instruments accounts for approximately 1.5% of Assenagon Asset Management S.A.’s holdings, making the stock its 9th largest holding. Assenagon Asset Management S.A.’s holdings in Texas Instruments were worth $899,044,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of TXN. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Texas Instruments by 454.5% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,256,289 shares of the semiconductor company’s stock valued at $244,386,000 after purchasing an additional 1,029,741 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Texas Instruments by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 19,250,433 shares of the semiconductor company’s stock valued at $3,976,562,000 after acquiring an additional 782,053 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Texas Instruments by 17,253.3% during the 3rd quarter. International Assets Investment Management LLC now owns 613,440 shares of the semiconductor company’s stock worth $126,718,000 after acquiring an additional 609,905 shares during the period. Geode Capital Management LLC lifted its position in shares of Texas Instruments by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 21,286,790 shares of the semiconductor company’s stock worth $4,382,936,000 after buying an additional 487,892 shares during the period. Finally, Mondrian Investment Partners LTD increased its position in shares of Texas Instruments by 141.7% during the 2nd quarter. Mondrian Investment Partners LTD now owns 706,350 shares of the semiconductor company’s stock worth $143,961,000 after purchasing an additional 414,115 shares in the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.

Texas Instruments Stock Up 1.3 %

Shares of NASDAQ:TXN opened at $193.50 on Wednesday. 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 1 year low of $155.46 and a 1 year high of $220.38. The company has a market cap of $176.51 billion, a PE ratio of 35.97, a P/E/G ratio of 4.19 and a beta of 0.98. The stock’s 50-day moving average is $196.30 and its 200 day moving average is $199.76.

Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.09. The firm 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 company’s revenue was down 8.4% on a year-over-year basis. During the same period last year, the company earned $1.80 earnings per share. Sell-side analysts anticipate that Texas Instruments Incorporated will post 5.08 EPS for the current year.

Texas Instruments Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Thursday, October 31st were paid a $1.36 dividend. This represents a $5.44 annualized dividend and a dividend yield of 2.81%. This is a positive change from Texas Instruments’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, October 31st. Texas Instruments’s dividend payout ratio is 101.12%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Robert W. Baird dropped their target price on shares of Texas Instruments from $200.00 to $175.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Bank of America cut their price objective on Texas Instruments from $220.00 to $215.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Benchmark reissued a “buy” rating and issued a $230.00 price target on shares of Texas Instruments in a research note on Wednesday, October 23rd. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of Texas Instruments in a report on Wednesday, October 23rd. Finally, Barclays dropped their price objective on Texas Instruments from $210.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Two equities research 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. According to data from MarketBeat, Texas Instruments presently has an average rating of “Hold” and an average price target of $209.71.

Insider Activity

In other news, Director Ronald Kirk sold 10,539 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $203.33, for a total value of $2,142,894.87. Following the sale, the director now owns 14,323 shares of the company’s stock, valued at approximately $2,912,295.59. This represents a 42.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert E. Sanchez sold 9,990 shares of the company’s stock in a transaction dated 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 owns 20,461 shares in the company, valued at $4,272,256.80. This represents 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.

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.