Allstate Corp Invests $5.06 Million in Texas Instruments Incorporated (NASDAQ:TXN)

Allstate Corp bought a new stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 27,003 shares of the semiconductor company’s stock, valued at approximately $5,063,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TXN. Fiduciary Alliance LLC increased its holdings in shares of Texas Instruments by 25.3% in the fourth quarter. Fiduciary Alliance LLC now owns 36,801 shares of the semiconductor company’s stock worth $6,901,000 after purchasing an additional 7,424 shares during the last quarter. Ameritas Advisory Services LLC increased its stake in Texas Instruments by 73.7% in the 4th quarter. Ameritas Advisory Services LLC now owns 8,739 shares of the semiconductor company’s stock worth $1,639,000 after acquiring an additional 3,707 shares during the last quarter. HB Wealth Management LLC raised its holdings in shares of Texas Instruments by 4.4% during the 4th quarter. HB Wealth Management LLC now owns 99,856 shares of the semiconductor company’s stock worth $18,724,000 after acquiring an additional 4,238 shares in the last quarter. Taika Capital LP bought a new position in shares of Texas Instruments during the 3rd quarter valued at approximately $4,394,000. Finally, Hamlin Capital Management LLC grew its holdings in shares of Texas Instruments by 9.2% in the fourth quarter. Hamlin Capital Management LLC now owns 871,623 shares of the semiconductor company’s stock valued at $163,438,000 after purchasing an additional 73,715 shares in the last quarter. 84.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on TXN. Wells Fargo & Company lowered their price objective on shares of Texas Instruments from $215.00 to $208.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $200.00 price target on shares of Texas Instruments in a report on Friday, January 24th. Benchmark reissued a “buy” rating and set a $230.00 price objective on shares of Texas Instruments in a research note on Friday, January 24th. Truist Financial lowered their price objective on Texas Instruments from $199.00 to $195.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of Texas Instruments in a research report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Texas Instruments currently has a consensus rating of “Hold” and a consensus target price of $209.20.

Texas Instruments Stock Down 2.5 %

Shares of NASDAQ:TXN opened at $176.33 on Friday. The company has a quick ratio of 2.88, a current ratio of 4.12 and a debt-to-equity ratio of 0.76. The business’s 50 day moving average is $186.45 and its 200 day moving average is $194.71. The stock has a market cap of $160.45 billion, a P/E ratio of 33.97, a price-to-earnings-growth ratio of 3.30 and a beta of 0.98. Texas Instruments Incorporated has a 52-week low of $159.11 and a 52-week high of $220.39.

Texas Instruments (NASDAQ:TXN) last announced 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 return on equity of 28.08% and a net margin of 30.68%. During the same quarter last year, the company earned $1.49 EPS. Sell-side analysts predict that Texas Instruments Incorporated will post 5.35 EPS for the current year.

Texas Instruments Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Friday, January 31st were given a $1.36 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $5.44 annualized dividend and a dividend yield of 3.09%. Texas Instruments’s payout ratio is presently 104.82%.

Insider Activity

In related news, 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 transaction of $1,234,955.30. Following the sale, the director now owns 10,816 shares of the company’s stock, valued at $2,202,353.92. This trade represents a 35.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Richard K. Templeton sold 97,000 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $202.72, for a total transaction of $19,663,840.00. Following the completion of the transaction, the chairman now owns 409,089 shares of the company’s stock, valued at $82,930,522.08. This represents a 19.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 297,655 shares of company stock worth $59,841,304. Corporate insiders own 0.57% of the company’s stock.

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.