Connor Clark & Lunn Investment Management Ltd. Cuts Stake in Texas Instruments Incorporated (NASDAQ:TXN)

Connor Clark & Lunn Investment Management Ltd. decreased its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 99.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,145 shares of the semiconductor company’s stock after selling 571,494 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Texas Instruments were worth $856,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of TXN. Independent Wealth Network Inc. purchased a new position in shares of Texas Instruments in the first quarter valued at $206,000. LRI Investments LLC acquired a new stake in shares of Texas Instruments during the first quarter valued at about $140,000. Swedbank AB purchased a new stake in shares of Texas Instruments during the first quarter worth about $30,147,000. PGGM Investments acquired a new position in shares of Texas Instruments in the first quarter worth about $437,000. Finally, Cetera Investment Advisers boosted its holdings in Texas Instruments by 450.8% in the first quarter. Cetera Investment Advisers now owns 200,185 shares of the semiconductor company’s stock valued at $34,874,000 after purchasing an additional 163,838 shares during the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.

Texas Instruments Stock Down 0.9 %

Texas Instruments stock opened at $199.19 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.14 and a current ratio of 4.31. The company has a 50-day simple moving average of $204.50 and a 200-day simple moving average of $200.70. The firm has a market capitalization of $181.71 billion, a P/E ratio of 37.02, a P/E/G ratio of 4.44 and a beta of 0.99. Texas Instruments Incorporated has a one year low of $151.27 and a one year high of $220.38.

Texas Instruments (NASDAQ:TXN) last released its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.09. Texas Instruments had a return on equity of 29.05% and a net margin of 31.60%. The company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the previous year, the company posted $1.80 earnings per share. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, equities 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. Investors of record on Thursday, October 31st were paid a dividend of $1.36 per share. This is a boost from Texas Instruments’s previous quarterly dividend of $1.30. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Thursday, October 31st. Texas Instruments’s payout ratio is currently 101.12%.

Insider Buying and Selling

In related news, Director Robert E. Sanchez sold 9,990 shares of Texas Instruments stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $208.80, for a total transaction of $2,085,912.00. Following the transaction, the director now directly owns 20,461 shares of the company’s stock, valued at $4,272,256.80. The trade was a 32.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald Kirk sold 10,539 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $203.33, for a total transaction of $2,142,894.87. Following the completion of the sale, the director now directly owns 14,323 shares of the company’s stock, valued at $2,912,295.59. The trade was a 42.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on TXN shares. Mizuho set a $200.00 target price on Texas Instruments in a research note on Friday, October 18th. Citigroup raised shares of Texas Instruments from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $200.00 to $235.00 in a report on Wednesday, August 21st. Summit Insights upgraded shares of Texas Instruments from a “hold” rating to a “buy” rating in a research note on Wednesday, October 23rd. Susquehanna decreased their price target on Texas Instruments from $250.00 to $240.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Finally, Barclays cut their price objective on Texas Instruments from $210.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Texas Instruments has an average rating of “Hold” and an average price target of $210.05.

About Texas Instruments

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.