Polymer Capital Management US LLC Purchases New Position in Texas Instruments Incorporated (NASDAQ:TXN)

Polymer Capital Management US LLC acquired a new position in Texas Instruments Incorporated (NASDAQ:TXN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,600 shares of the semiconductor company’s stock, valued at approximately $2,925,000.

Several other hedge funds have also modified their holdings of the company. Cerity Partners LLC raised its stake in Texas Instruments by 1.5% during the fourth quarter. Cerity Partners LLC now owns 383,813 shares of the semiconductor company’s stock valued at $72,813,000 after purchasing an additional 5,672 shares in the last quarter. Trek Financial LLC raised its holdings in Texas Instruments by 34.6% during the 4th quarter. Trek Financial LLC now owns 5,229 shares of the semiconductor company’s stock valued at $980,000 after buying an additional 1,345 shares during the period. Federated Hermes Inc. lifted its position in Texas Instruments by 1.2% in the fourth quarter. Federated Hermes Inc. now owns 19,667 shares of the semiconductor company’s stock worth $3,688,000 after buying an additional 239 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Texas Instruments by 0.8% during the fourth quarter. Russell Investments Group Ltd. now owns 794,784 shares of the semiconductor company’s stock worth $149,078,000 after buying an additional 6,226 shares during the period. Finally, Rahlfs Capital LLC bought a new position in Texas Instruments during the fourth quarter valued at $2,277,000. 84.99% of the stock is owned by hedge funds and other institutional investors.

Texas Instruments Stock Down 7.8 %

Shares of Texas Instruments stock opened at $151.39 on Monday. The company has a quick ratio of 2.88, a current ratio of 4.12 and a debt-to-equity ratio of 0.76. The company has a market cap of $137.75 billion, a P/E ratio of 29.17, a PEG ratio of 3.30 and a beta of 0.99. The firm’s 50 day moving average price is $184.06 and its 200-day moving average price is $193.60. Texas Instruments Incorporated has a 52-week low of $144.22 and a 52-week high of $220.39.

Texas Instruments (NASDAQ:TXN) last released its quarterly earnings results on Thursday, January 23rd. The semiconductor company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.10. Texas Instruments had a net margin of 30.68% and a return on equity of 28.08%. During the same period last year, the company earned $1.49 EPS. On average, sell-side analysts predict that Texas Instruments Incorporated will post 5.35 EPS for the current fiscal year.

Texas Instruments Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Friday, January 31st were paid a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend was Friday, January 31st. Texas Instruments’s dividend payout ratio (DPR) is presently 104.82%.

Insiders Place Their Bets

In other news, Director Janet F. Clark sold 6,065 shares of Texas Instruments stock in a transaction on Monday, February 24th. The shares were sold at an average price of $203.62, for a total transaction of $1,234,955.30. Following the completion of the sale, the director now directly owns 10,816 shares in the company, valued at approximately $2,202,353.92. The trade was a 35.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Richard K. Templeton sold 97,000 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $202.72, for a total value of $19,663,840.00. Following the completion of the transaction, the chairman now directly owns 409,089 shares in the company, valued at approximately $82,930,522.08. The trade was a 19.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 297,655 shares of company stock valued at $59,841,304. 0.57% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Truist Financial lowered their target price on shares of Texas Instruments from $199.00 to $195.00 and set a “hold” rating for the company in a report on Friday, January 24th. Cantor Fitzgerald restated a “neutral” rating and set a $200.00 target price on shares of Texas Instruments in a research report on Friday, January 24th. Mizuho reduced their price target on Texas Instruments from $200.00 to $190.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. Benchmark restated a “buy” rating and set a $230.00 price objective on shares of Texas Instruments in a report on Friday, January 24th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $250.00 price target on shares of Texas Instruments in a report on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $209.20.

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.