Argent Capital Management LLC Trims Stake in Texas Instruments Incorporated (NASDAQ:TXN)

24 Oct 2024, 13:00 by Teresa Graham · The Cerbat Gem

Argent Capital Management LLC cut its holdings in Texas Instruments Incorporated (NASDAQ:TXN – Free Report) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 100,949 shares of the semiconductor company’s stock after selling 1,185 shares during the period. Argent Capital Management LLC’s holdings in Texas Instruments were worth $20,853,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. American Institute for Advanced Investment Management LLP purchased a new position in shares of Texas Instruments during the 3rd quarter valued at about $208,000. Grimes & Company Inc. raised its stake in Texas Instruments by 0.6% during the 3rd quarter. Grimes & Company Inc. now owns 22,196 shares of the semiconductor company’s stock worth $4,585,000 after acquiring an additional 130 shares during the period. Harvey Investment Co. LLC bought a new stake in Texas Instruments during the 3rd quarter worth approximately $210,000. Beese Fulmer Investment Management Inc. lifted its holdings in Texas Instruments by 1.4% during the third quarter. Beese Fulmer Investment Management Inc. now owns 55,293 shares of the semiconductor company’s stock valued at $11,422,000 after purchasing an additional 767 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its position in shares of Texas Instruments by 8.4% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 11,789 shares of the semiconductor company’s stock worth $2,435,000 after purchasing an additional 915 shares during the period. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Texas Instruments Trading Up 2.3 %

NASDAQ TXN traded up $4.58 during trading hours on Thursday, hitting $206.32. 2,919,830 shares of the company were exchanged, compared to its average volume of 5,468,959. The stock has a market cap of $188.38 billion, a PE ratio of 37.50, a price-to-earnings-growth ratio of 4.22 and a beta of 0.98. Texas Instruments Incorporated has a 52 week low of $139.48 and a 52 week high of $214.66. The stock has a 50-day moving average price of $203.43 and a 200 day moving average price of $194.99. The company has a quick ratio of 3.49, a current ratio of 4.62 and a debt-to-equity ratio of 0.75.

Texas Instruments (NASDAQ:TXN – Get Free Report) last issued its quarterly 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. Texas Instruments had a return on equity of 29.15% and a net margin of 31.60%. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period last year, the company earned $1.80 earnings per share. Texas Instruments’s revenue was down 8.4% on a year-over-year basis. Analysts forecast that Texas Instruments Incorporated will post 5.11 earnings per share for the current fiscal year.

Texas Instruments Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Thursday, October 31st will be given a $1.36 dividend. This is a positive change from Texas Instruments’s previous quarterly dividend of $1.30. This represents a $5.44 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Thursday, October 31st. Texas Instruments’s dividend payout ratio is 96.65%.

Wall Street Analysts Forecast Growth

TXN has been the topic of a number of analyst reports. Mizuho set a $200.00 target price on shares of Texas Instruments in a research note on Friday, October 18th. The Goldman Sachs Group boosted their price objective on Texas Instruments from $157.00 to $176.00 and gave the company a “sell” rating in a research report on Wednesday, July 24th. Stifel Nicolaus increased their target price on Texas Instruments from $172.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Evercore ISI boosted their price target on Texas Instruments from $268.00 to $298.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Summit Insights raised shares of Texas Instruments from a “hold” rating to a “buy” rating in a report on Wednesday. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $206.95.

View Our Latest Analysis on Texas Instruments

Insiders Place Their Bets

In related news, CEO Haviv Ilan sold 1,200 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $209.44, for a total transaction of $251,328.00. Following the completion of the transaction, the chief executive officer now owns 158,676 shares in the company, valued at $33,233,101.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Shanon J. Leonard sold 2,816 shares of the business’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 sale, the vice president now owns 24,112 shares in the company, valued at approximately $5,037,237.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Haviv Ilan sold 1,200 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $209.44, for a total value of $251,328.00. Following the transaction, the chief executive officer now owns 158,676 shares in the company, valued at $33,233,101.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,558 shares of company stock valued at $3,255,323 over the last 90 days. Insiders own 0.68% of the company’s stock.

Texas Instruments Company Profile

(Free Report)

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.