Texas Instruments Incorporated (TXN) Stake Boosted by AQR Capital Management LLC
AQR Capital Management LLC boosted its position in Texas Instruments Incorporated (NASDAQ:TXN) by 19.0% during the first quarter, Holdings Channel reports. The fund owned 4,339,246 shares of the semiconductor company’s stock after buying an additional 694,158 shares during the period. AQR Capital Management LLC’s holdings in Texas Instruments were worth $349,570,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in the company. Investment Centers of America Inc. purchased a new stake in shares of Texas Instruments during the first quarter worth about $248,000. Day & Ennis LLC increased its stake in shares of Texas Instruments by 4.5% in the first quarter. Day & Ennis LLC now owns 11,013 shares of the semiconductor company’s stock worth $887,000 after buying an additional 470 shares during the last quarter. Signaturefd LLC increased its stake in shares of Texas Instruments by 17.0% in the first quarter. Signaturefd LLC now owns 5,017 shares of the semiconductor company’s stock worth $404,000 after buying an additional 728 shares during the last quarter. Level Four Advisory Services LLC purchased a new stake in shares of Texas Instruments during the first quarter worth about $211,000. Finally, State Street Corp increased its stake in shares of Texas Instruments by 1.4% in the first quarter. State Street Corp now owns 40,943,910 shares of the semiconductor company’s stock worth $3,298,445,000 after buying an additional 573,645 shares during the last quarter. 84.64% of the stock is currently owned by hedge funds and other institutional investors.
Texas Instruments Incorporated (NASDAQ:TXN) traded up 0.5148% during mid-day trading on Friday, reaching $80.7737. 1,209,558 shares of the company traded hands. Texas Instruments Incorporated has a 12-month low of $66.30 and a 12-month high of $84.65. The company’s 50 day moving average price is $80.19 and its 200 day moving average price is $79.63. The firm has a market capitalization of $79.97 billion, a P/E ratio of 20.2035 and a beta of 1.21.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.07. Texas Instruments had a return on equity of 36.52% and a net margin of 28.68%. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the prior year, the firm posted $0.76 EPS. Texas Instruments’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities research analysts predict that Texas Instruments Incorporated will post $4.13 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, July 27th. This represents a $2.00 annualized dividend and a yield of 2.49%. Texas Instruments’s payout ratio is presently 50.51%.
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A number of equities research analysts have recently issued reports on the stock. B. Riley reissued a “neutral” rating and issued a $89.00 price target on shares of Texas Instruments in a report on Monday, July 31st. Zacks Investment Research raised shares of Texas Instruments from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a report on Thursday, July 27th. Morgan Stanley reissued an “equal weight” rating and issued a $83.00 price target (up from $78.00) on shares of Texas Instruments in a report on Wednesday, July 26th. Barclays PLC lowered their price target on shares of Texas Instruments from $78.00 to $83.00 in a report on Wednesday, July 26th. Finally, Loop Capital reaffirmed a “hold” rating and issued a $84.00 target price (up from $79.00) on shares of Texas Instruments in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $85.96.
In other Texas Instruments news, COO Brian T. Crutcher sold 50,000 shares of the stock in a transaction 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 sale, the chief operating officer now owns 201,440 shares in the company, valued at $16,334,769.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert E. Sanchez sold 26,905 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $81.48, for a total value of $2,192,219.40. Following the completion of the sale, the director now owns 27,565 shares in the company, valued at approximately $2,245,996.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,905 shares of company stock worth $7,398,219. Insiders own 0.96% of the company’s stock.
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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