SouthState Corp Sells 819 Shares of Texas Instruments Incorporated (NASDAQ:TXN)

SouthState Corp decreased its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 16.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,276 shares of the semiconductor company’s stock after selling 819 shares during the period. SouthState Corp’s holdings in Texas Instruments were worth $883,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new position in shares of Texas Instruments during the third quarter valued at $28,000. Tsfg LLC grew its holdings in Texas Instruments by 82.0% during the 3rd quarter. Tsfg LLC now owns 182 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 82 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Texas Instruments during the 3rd quarter valued at about $39,000. McClarren Financial Advisors Inc. bought a new stake in shares of Texas Instruments in the 3rd quarter valued at about $43,000. Finally, Friedenthal Financial purchased a new stake in shares of Texas Instruments in the 2nd quarter worth approximately $50,000. 84.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Susquehanna reduced their price objective on shares of Texas Instruments from $250.00 to $240.00 and set a “positive” rating for the company in a research note on Monday, October 21st. JPMorgan Chase & Co. upped their price objective on Texas Instruments from $195.00 to $230.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of Texas Instruments in a research note on Wednesday, October 23rd. 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 research report on Wednesday, October 23rd. Finally, Summit Insights raised shares of Texas Instruments from a “hold” rating to a “buy” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Texas Instruments currently has an average rating of “Hold” and an average target price of $206.95.

Texas Instruments Price Performance

Shares of NASDAQ TXN opened at $201.07 on Wednesday. Texas Instruments Incorporated has a 52 week low of $151.27 and a 52 week high of $220.38. The business’s 50 day moving average price is $204.54 and its 200 day moving average price is $200.17. The company has a quick ratio of 3.14, a current ratio of 4.31 and a debt-to-equity ratio of 0.74. The firm has a market cap of $183.42 billion, a P/E ratio of 37.37, a P/E/G ratio of 4.40 and a beta of 0.99.

Texas Instruments (NASDAQ:TXN) last released its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.38 by $0.09. Texas Instruments had a net margin of 31.60% and a return on equity of 29.05%. The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the prior year, the firm earned $1.80 EPS. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, sell-side analysts expect that Texas Instruments Incorporated will post 5.08 earnings per share for the current year.

Texas Instruments Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st were paid a dividend of $1.36 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.71%. This is a positive change from Texas Instruments’s previous quarterly dividend of $1.30. Texas Instruments’s dividend payout ratio (DPR) is presently 101.12%.

Insider Activity

In other Texas Instruments news, CEO Haviv Ilan sold 1,200 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $209.44, for a total value of $251,328.00. Following the completion of the transaction, the chief executive officer now owns 158,676 shares in the company, valued at approximately $33,233,101.44. This represents a 0.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Julie C. Knecht sold 7,764 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $209.49, for a total transaction of $1,626,480.36. Following the sale, the chief accounting officer now directly owns 11,806 shares in the company, valued at approximately $2,473,238.94. The trade was a 39.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,548 shares of company stock valued at $5,341,235 in the last quarter. 0.68% of the stock is currently owned by company insiders.

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.