Norges Bank Takes Position in Texas Instruments Incorporated (NASDAQ:TXN)

Norges Bank bought a new position in Texas Instruments Incorporated (NASDAQ:TXN) during the fourth quarter, Holdings Channel.com reports. The fund bought 13,783,210 shares of the semiconductor company’s stock, valued at approximately $2,584,490,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Texas Instruments by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 93,567,277 shares of the semiconductor company’s stock valued at $17,544,800,000 after buying an additional 649,620 shares during the period. State Street Corp boosted its stake in Texas Instruments by 0.9% in the third quarter. State Street Corp now owns 41,679,234 shares of the semiconductor company’s stock valued at $8,609,679,000 after acquiring an additional 391,306 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Texas Instruments by 11.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 21,487,468 shares of the semiconductor company’s stock valued at $4,029,115,000 after purchasing an additional 2,237,035 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Texas Instruments by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 21,286,790 shares of the semiconductor company’s stock worth $4,382,936,000 after purchasing an additional 487,892 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Texas Instruments by 1.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,773,932 shares of the semiconductor company’s stock worth $1,605,861,000 after buying an additional 124,712 shares during the last quarter. Institutional investors own 84.99% of the company’s stock.

Texas Instruments Price Performance

TXN opened at $184.49 on Thursday. The stock’s 50-day moving average price is $186.90 and its 200 day moving average price is $194.99. Texas Instruments Incorporated has a 12-month low of $159.11 and a 12-month high of $220.39. The firm has a market cap of $167.87 billion, a price-to-earnings ratio of 35.55, a PEG ratio of 3.30 and a beta of 0.98. The company has a current ratio of 4.12, a quick ratio of 2.88 and a debt-to-equity ratio of 0.76.

Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Thursday, January 23rd. The semiconductor company reported $1.30 EPS for the quarter, beating 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 in the previous year, the firm posted $1.49 earnings per share. As a group, sell-side analysts expect that Texas Instruments Incorporated will post 5.35 earnings per share for the current year.

Texas Instruments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Friday, January 31st were given a dividend of $1.36 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $5.44 annualized dividend and a dividend yield of 2.95%. Texas Instruments’s dividend payout ratio is currently 104.82%.

Analyst Ratings Changes

A number of brokerages have issued reports on TXN. Mizuho cut their price target on shares of Texas Instruments from $200.00 to $190.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Cantor Fitzgerald reissued a “neutral” rating and issued a $200.00 price objective on shares of Texas Instruments in a report on Friday, January 24th. Wells Fargo & Company cut their price target on shares of Texas Instruments from $215.00 to $208.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Benchmark reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Texas Instruments in a report on Friday, January 24th. Finally, Barclays reduced their target price on shares of Texas Instruments from $200.00 to $180.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $209.20.

Insiders Place Their Bets

In other news, Chairman Richard K. Templeton sold 97,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $202.72, for a total transaction of $19,663,840.00. Following the transaction, the chairman now directly owns 409,089 shares in the company, valued at approximately $82,930,522.08. This trade represents a 19.17 % 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, Director Janet F. Clark sold 6,065 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $203.62, for a total value of $1,234,955.30. Following the transaction, the director now directly owns 10,816 shares in the company, valued at approximately $2,202,353.92. This represents a 35.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 297,655 shares of company stock valued at $59,841,304. 0.57% of the stock is owned by corporate 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.