First Manhattan Co. Has $4.93 Million Stake in Texas Instruments Incorporated (TXN)

First Manhattan Co. trimmed its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 0.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,171 shares of the semiconductor company’s stock after selling 374 shares during the period. First Manhattan Co.’s holdings in Texas Instruments were worth $4,930,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TXN. Highwater Wealth Management LLC bought a new stake in shares of Texas Instruments during the 4th quarter worth approximately $34,000. G&S Capital LLC lifted its stake in shares of Texas Instruments by 25.0% during the 4th quarter. G&S Capital LLC now owns 725 shares of the semiconductor company’s stock worth $69,000 after acquiring an additional 145 shares during the last quarter. Legacy Financial Advisors Inc. lifted its stake in shares of Texas Instruments by 67.7% during the 4th quarter. Legacy Financial Advisors Inc. now owns 976 shares of the semiconductor company’s stock worth $92,000 after acquiring an additional 394 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in shares of Texas Instruments during the 3rd quarter worth approximately $107,000. Finally, Girard Partners LTD. bought a new stake in shares of Texas Instruments during the 3rd quarter worth approximately $119,000. 84.51% of the stock is owned by institutional investors and hedge funds.

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In related news, insider Ahmad Bahai sold 26,963 shares of the business’s stock in a transaction on Friday, January 25th. The stock was sold at an average price of $103.75, for a total transaction of $2,797,411.25. Following the transaction, the insider now directly owns 58,928 shares in the company, valued at approximately $6,113,780. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mark A. Blinn sold 6,648 shares of the business’s stock in a transaction on Tuesday, January 29th. The stock was sold at an average price of $102.86, for a total value of $683,813.28. Following the transaction, the director now owns 13,770 shares in the company, valued at $1,416,382.20. The disclosure for this sale can be found here. Insiders sold a total of 58,500 shares of company stock worth $6,018,378 over the last quarter. Company insiders own 0.84% of the company’s stock.

Shares of NASDAQ:TXN opened at $101.99 on Friday. Texas Instruments Incorporated has a 12-month low of $87.70 and a 12-month high of $118.48. The firm has a market capitalization of $96.71 billion, a PE ratio of 18.82, a P/E/G ratio of 1.91 and a beta of 1.18. The company has a current ratio of 3.27, a quick ratio of 2.38 and a debt-to-equity ratio of 0.48.

Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Wednesday, January 23rd. The semiconductor company reported $1.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.03. Texas Instruments had a return on equity of 53.05% and a net margin of 35.35%. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period last year, the business posted $1.09 EPS. The business’s revenue was down .9% compared to the same quarter last year. On average, equities research analysts forecast that Texas Instruments Incorporated will post 5.21 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, February 11th. Stockholders of record on Thursday, January 31st will be issued a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, January 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.02%. Texas Instruments’s dividend payout ratio is presently 56.83%.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research lowered Texas Instruments from a “hold” rating to a “sell” rating in a research note on Monday, January 28th. BidaskClub downgraded Texas Instruments from a “hold” rating to a “sell” rating in a report on Friday, January 25th. BMO Capital Markets restated a “buy” rating and set a $120.00 price objective on shares of Texas Instruments in a report on Thursday, January 24th. Jefferies Financial Group restated a “buy” rating and set a $137.00 price objective (down from $139.00) on shares of Texas Instruments in a report on Thursday, January 24th. Finally, Nomura restated a “neutral” rating and set a $95.00 price objective (down from $100.00) on shares of Texas Instruments in a report on Thursday, January 24th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $109.48.

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Texas Instruments Company Profile

Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. It operates in two segments, Analog and Embedded Processing. The Analog segment offers power products to manage power requirements in various levels using battery management solutions, portable components, power supply controls, point-of-load products, switches and interfaces, integrated protection devices, high-voltage products, and mobile lighting and display products.

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