Texas Instruments Incorporated (NASDAQ:TXN) Stake Raised by HighTower Advisors LLC
HighTower Advisors LLC raised its position in Texas Instruments Incorporated (NASDAQ:TXN) by 0.9% during the first quarter, Holdings Channel reports. The institutional investor owned 265,716 shares of the semiconductor company’s stock after buying an additional 2,324 shares during the period. HighTower Advisors LLC’s holdings in Texas Instruments were worth $21,399,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. UMB Bank N A MO raised its stake in Texas Instruments by 4.9% in the first quarter. UMB Bank N A MO now owns 326,697 shares of the semiconductor company’s stock valued at $26,319,000 after buying an additional 15,401 shares in the last quarter. Rhumbline Advisers raised its stake in Texas Instruments by 0.9% in the first quarter. Rhumbline Advisers now owns 1,753,135 shares of the semiconductor company’s stock valued at $141,233,000 after buying an additional 15,099 shares in the last quarter. 1st Global Advisors Inc. purchased a new stake in Texas Instruments during the first quarter valued at $406,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Texas Instruments by 29.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 74,152 shares of the semiconductor company’s stock valued at $5,974,000 after buying an additional 16,857 shares in the last quarter. Finally, American International Group Inc. raised its stake in Texas Instruments by 1.6% in the first quarter. American International Group Inc. now owns 471,415 shares of the semiconductor company’s stock valued at $37,977,000 after buying an additional 7,369 shares in the last quarter. Hedge funds and other institutional investors own 84.64% of the company’s stock.
Texas Instruments Incorporated (NASDAQ:TXN) traded up 0.66% during mid-day trading on Friday, reaching $80.89. The company’s stock had a trading volume of 3,426,144 shares. The company has a market capitalization of $80.08 billion, a price-to-earnings ratio of 20.23 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 has a 50-day moving average price of $80.24 and a 200-day moving average price of $79.66.
Texas Instruments (NASDAQ:TXN) last announced 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 firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the business earned $0.76 EPS. Texas Instruments’s revenue for the quarter was up 12.8% compared to the same quarter last year. Equities research analysts forecast that Texas Instruments Incorporated will post $4.13 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be paid a $0.50 dividend. The ex-dividend date is Thursday, July 27th. This represents a $2.00 annualized dividend and a dividend yield of 2.47%. Texas Instruments’s dividend payout ratio is presently 50.51%.
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TXN has been the topic of several research reports. Zacks Investment Research upgraded Texas Instruments from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. Morgan Stanley restated an “equal weight” rating and set a $83.00 price target (up from $78.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. SunTrust Banks, Inc. restated a “hold” rating and set a $86.00 price target (up from $84.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. Cowen and Company lifted their price target on Texas Instruments from $77.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, April 26th. Finally, Barclays PLC lifted their price target on Texas Instruments from $77.00 to $83.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $85.96.
In related news, Director Carrie Smith Cox sold 14,000 shares of Texas Instruments stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $82.25, for a total value of $1,151,500.00. Following the sale, the director now directly owns 38,435 shares in the company, valued at approximately $3,161,278.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert E. Sanchez sold 26,905 shares of Texas Instruments stock in a transaction dated 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 $2,245,996.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,905 shares of company stock valued at $7,398,219. 0.96% of the stock is owned by company 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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