King Luther Capital Management Corp raised its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 0.1% during the first quarter, Holdings Channel reports. The fund owned 34,359 shares of the semiconductor company’s stock after buying an additional 29 shares during the period. King Luther Capital Management Corp’s holdings in Texas Instruments were worth $2,768,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Texas Instruments by 1,924.6% in the first quarter. BlackRock Inc. now owns 64,718,640 shares of the semiconductor company’s stock valued at $5,213,733,000 after buying an additional 61,521,990 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Texas Instruments by 370.0% in the first quarter. Jennison Associates LLC now owns 8,080,896 shares of the semiconductor company’s stock valued at $650,997,000 after buying an additional 6,361,577 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Texas Instruments by 4.7% in the first quarter. Vanguard Group Inc. now owns 79,646,537 shares of the semiconductor company’s stock valued at $6,416,325,000 after buying an additional 3,551,400 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Texas Instruments by 252.0% in the first quarter. American Century Companies Inc. now owns 3,346,324 shares of the semiconductor company’s stock valued at $269,580,000 after buying an additional 2,395,581 shares in the last quarter. Finally, Henderson Group PLC increased its stake in shares of Texas Instruments by 1,054.2% in the first quarter. Henderson Group PLC now owns 1,498,951 shares of the semiconductor company’s stock valued at $120,763,000 after buying an additional 1,369,077 shares in the last quarter. Hedge funds and other institutional investors own 84.64% of the company’s stock.

Shares of Texas Instruments Incorporated (TXN) traded up 0.20% during midday trading on Monday, reaching $81.59. 285,323 shares of the company’s stock traded hands. The firm has a market capitalization of $80.91 billion, a PE ratio of 20.28 and a beta of 1.21. Texas Instruments Incorporated has a one year low of $66.30 and a one year high of $84.65. The stock’s 50-day moving average price is $79.91 and its 200 day moving average price is $79.37.

Texas Instruments (NASDAQ:TXN) last released its earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.07. The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.57 billion. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 EPS. On average, equities research analysts expect that Texas Instruments Incorporated will post $4.13 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.46%. The ex-dividend date is Thursday, July 27th. Texas Instruments’s dividend payout ratio is 50.51%.

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Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Texas Instruments from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a report on Thursday, July 27th. Cowen and Company increased their target price on shares of Texas Instruments from $77.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, April 26th. Drexel Hamilton reiterated a “buy” rating and issued a $93.00 target price on shares of Texas Instruments in a report on Wednesday, April 26th. Robert W. Baird increased their target price on shares of Texas Instruments from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, April 26th. Finally, B. Riley reiterated a “neutral” rating and issued a $83.00 target price on shares of Texas Instruments in a report on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $85.96.

In other Texas Instruments news, COO Brian T. Crutcher sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $81.09, for a total value of $4,054,500.00. Following the completion of the transaction, the chief operating officer now directly owns 201,440 shares in the company, valued at approximately $16,334,769.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Niels Anderskouv sold 134,360 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $80.42, for a total value of $10,805,231.20. Following the completion of the transaction, the insider now owns 132,079 shares of the company’s stock, valued at $10,621,793.18. The disclosure for this sale can be found here. Insiders sold a total of 257,685 shares of company stock valued at $20,816,827 over the last three months. 0.96% of the stock is currently owned by insiders.

About Texas Instruments

Texas Instruments Incorporated designs, makes and sells semiconductors to electronics designers and manufacturers across the world. The Company operates through two segments: Analog and Embedded Processing. As of December 31, 2016, the Company had design, manufacturing or sales operations in more than 30 countries.

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Institutional Ownership by Quarter for Texas Instruments (NASDAQ:TXN)

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