Canandaigua National Bank & Trust Co. Lowers Stock Position in Texas Instruments Incorporated (NASDAQ:TXN)

Canandaigua National Bank & Trust Co. lowered its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 8.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,610 shares of the semiconductor company’s stock after selling 2,076 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Texas Instruments were worth $4,052,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new position in Texas Instruments in the 3rd quarter worth approximately $28,000. Tsfg LLC lifted its stake in Texas Instruments by 82.0% in 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 bought a new position in shares of Texas Instruments during the 3rd quarter valued at about $39,000. FSA Wealth Management LLC bought a new position in Texas Instruments during the third quarter valued at approximately $41,000. Finally, McClarren Financial Advisors Inc. purchased a new position in Texas Instruments during the 3rd quarter valued at approximately $43,000. 84.99% of the stock is currently owned by institutional investors.

Insider Activity at Texas Instruments

In other news, Director Robert E. Sanchez sold 9,990 shares of Texas Instruments stock in a transaction that occurred on Friday, October 25th. The shares were 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 $4,272,256.80. The trade was a 32.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald Kirk sold 10,539 shares of the stock in a transaction on Monday, November 25th. The stock was 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 disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TXN. Truist Financial lowered their target price on Texas Instruments from $198.00 to $190.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. Wells Fargo & Company began coverage on shares of Texas Instruments in a report on Friday, November 22nd. They issued an “equal weight” rating and a $215.00 target price on the stock. Morgan Stanley increased their price target on shares of Texas Instruments from $154.00 to $167.00 and gave the company an “underweight” rating in a report on Wednesday, October 23rd. Mizuho set a $200.00 price objective on Texas Instruments in a research note on Friday, October 18th. Finally, Susquehanna dropped their target price on Texas Instruments from $250.00 to $240.00 and set a “positive” rating for the company in a report on Monday, October 21st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $210.05.

Texas Instruments Stock Performance

Shares of Texas Instruments stock traded up $1.67 during midday trading on Monday, hitting $192.18. The company had a trading volume of 4,645,084 shares, compared to its average volume of 3,948,666. The company has a quick ratio of 3.14, a current ratio of 4.31 and a debt-to-equity ratio of 0.74. Texas Instruments Incorporated has a 12-month low of $155.46 and a 12-month high of $220.38. The stock has a market cap of $175.31 billion, a price-to-earnings ratio of 35.72, a PEG ratio of 4.19 and a beta of 0.98. The company has a fifty day simple moving average of $198.24 and a 200 day simple moving average of $199.86.

Texas Instruments (NASDAQ:TXN) last issued its earnings results on Tuesday, October 22nd. The semiconductor company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 29.05% and a net margin of 31.60%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the business posted $1.80 EPS. As a group, analysts predict that Texas Instruments Incorporated will post 5.08 earnings per share for the current fiscal year.

Texas Instruments Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Thursday, October 31st were issued a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend was Thursday, October 31st. This is a boost from Texas Instruments’s previous quarterly dividend of $1.30. Texas Instruments’s dividend payout ratio (DPR) is 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.