Brown Brothers Harriman & Co. Sells 20,081 Shares of Texas Instruments Incorporated (NASDAQ:TXN)

Brown Brothers Harriman & Co. trimmed its position in Texas Instruments Incorporated (NASDAQ:TXN) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,177,139 shares of the semiconductor company’s stock after selling 20,081 shares during the period. Texas Instruments accounts for 1.7% of Brown Brothers Harriman & Co.’s investment portfolio, making the stock its 22nd biggest position. Brown Brothers Harriman & Co. owned about 0.13% of Texas Instruments worth $228,989,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Texas Instruments by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 90,572,576 shares of the semiconductor company’s stock worth $15,778,648,000 after buying an additional 536,206 shares in the last quarter. Capital Research Global Investors grew its position in Texas Instruments by 4.7% in the first quarter. Capital Research Global Investors now owns 28,715,467 shares of the semiconductor company’s stock worth $5,002,522,000 after acquiring an additional 1,279,828 shares in the last quarter. Franklin Resources Inc. increased its stake in Texas Instruments by 10.1% in the fourth quarter. Franklin Resources Inc. now owns 11,928,210 shares of the semiconductor company’s stock valued at $2,033,283,000 after acquiring an additional 1,095,303 shares during the last quarter. Van ECK Associates Corp raised its position in Texas Instruments by 6.2% during the second quarter. Van ECK Associates Corp now owns 5,955,353 shares of the semiconductor company’s stock valued at $1,158,495,000 after purchasing an additional 348,528 shares in the last quarter. Finally, FIL Ltd lifted its stake in Texas Instruments by 6.6% during the fourth quarter. FIL Ltd now owns 4,861,924 shares of the semiconductor company’s stock worth $828,764,000 after purchasing an additional 301,735 shares during the last quarter. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Shanon J. Leonard sold 2,816 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $208.91, for a total value of $588,290.56. Following the transaction, the vice president now owns 24,112 shares of the company’s stock, valued at $5,037,237.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Julie C. Knecht sold 7,764 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 11,806 shares in the company, valued at $2,473,238.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Shanon J. Leonard sold 2,816 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $208.91, for a total value of $588,290.56. Following the completion of the transaction, the vice president now owns 24,112 shares of the company’s stock, valued at $5,037,237.92. The disclosure for this sale can be found here. Insiders sold 15,558 shares of company stock valued at $3,255,323 in the last quarter. 0.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TXN shares. The Goldman Sachs Group raised their price objective on Texas Instruments from $157.00 to $176.00 and gave the company a “sell” rating in a report on Wednesday, July 24th. Cantor Fitzgerald restated a “neutral” rating and issued a $210.00 price objective on shares of Texas Instruments in a report on Wednesday, August 21st. Benchmark reaffirmed a “buy” rating and set a $230.00 target price on shares of Texas Instruments in a report on Wednesday, July 24th. Morgan Stanley lifted their target price on shares of Texas Instruments from $150.00 to $156.00 and gave the stock an “underweight” rating in a research report on Thursday, July 11th. Finally, Rosenblatt Securities raised their price objective on Texas Instruments from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $204.67.

Texas Instruments Price Performance

TXN opened at $199.93 on Monday. The company’s 50-day simple moving average is $200.69 and its two-hundred day simple moving average is $188.99. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.49 and a current ratio of 4.62. The stock has a market capitalization of $182.55 billion, a P/E ratio of 31.19, a P/E/G ratio of 4.26 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 issued its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. Texas Instruments had a net margin of 33.01% and a return on equity of 31.10%. The company had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the prior year, the firm earned $1.87 earnings per share. The firm’s revenue for the quarter was down 15.6% compared to the same quarter last year. As a group, analysts predict that Texas Instruments Incorporated will post 5.11 EPS for the current year.

Texas Instruments Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Wednesday, July 31st were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 2.60%. The ex-dividend date was Wednesday, July 31st. Texas Instruments’s payout ratio is currently 81.12%.

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.