Clearbridge Investments LLC Has $690.43 Million Position in Texas Instruments Incorporated (TXN)
Clearbridge Investments LLC cut its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 0.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,570,436 shares of the semiconductor company’s stock after selling 23,776 shares during the period. Texas Instruments comprises about 0.7% of Clearbridge Investments LLC’s investment portfolio, making the stock its 29th largest position. Clearbridge Investments LLC’s holdings in Texas Instruments were worth $690,434,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in TXN. Farmers & Merchants Investments Inc. raised its position in Texas Instruments by 3.2% in the first quarter. Farmers & Merchants Investments Inc. now owns 112,897 shares of the semiconductor company’s stock worth $9,095,000 after buying an additional 3,531 shares in the last quarter. Gateway Investment Advisers LLC raised its position in Texas Instruments by 5.9% in the first quarter. Gateway Investment Advisers LLC now owns 654,519 shares of the semiconductor company’s stock worth $52,728,000 after buying an additional 36,518 shares in the last quarter. SFE Investment Counsel purchased a new position in Texas Instruments during the first quarter worth $258,000. DnB Asset Management AS raised its position in Texas Instruments by 8.5% in the first quarter. DnB Asset Management AS now owns 109,313 shares of the semiconductor company’s stock worth $8,806,000 after buying an additional 8,600 shares in the last quarter. Finally, Bank of The West purchased a new position in Texas Instruments during the first quarter worth $502,000. 84.71% of the stock is owned by institutional investors and hedge funds.
Texas Instruments Incorporated (NASDAQ:TXN) traded up 0.22% during mid-day trading on Friday, hitting $80.33. 1,412,902 shares of the stock traded hands. Texas Instruments Incorporated has a one year low of $66.30 and a one year high of $84.65. The stock has a market capitalization of $79.53 billion, a PE ratio of 20.09 and a beta of 1.21. The company has a 50 day moving average price of $80.63 and a 200-day moving average price of $79.76.
Texas Instruments (NASDAQ:TXN) last issued its earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.96 by $0.07. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 EPS. Equities analysts anticipate that Texas Instruments Incorporated will post $4.13 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.50%. The ex-dividend date was Thursday, July 27th. Texas Instruments’s dividend payout ratio (DPR) is presently 50.51%.
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TXN has been the subject of a number of research analyst reports. Vetr lowered shares of Texas Instruments from a “strong-buy” rating to a “buy” rating and set a $89.16 target price for the company. in a research report on Monday, April 24th. Royal Bank Of Canada reissued an “outperform” rating and set a $84.00 target price on shares of Texas Instruments in a research report on Tuesday, April 25th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $90.00 target price on shares of Texas Instruments in a research report on Tuesday, April 25th. B. Riley reissued a “neutral” rating and set a $83.00 target price on shares of Texas Instruments in a research report on Wednesday, April 26th. Finally, Cowen and Company boosted their target price on shares of Texas Instruments from $77.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $85.96.
In related news, COO Brian T. Crutcher sold 50,000 shares of Texas Instruments stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $81.09, for a total transaction of $4,054,500.00. Following the sale, the chief operating officer now directly owns 201,440 shares of the company’s stock, valued at approximately $16,334,769.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carrie Smith Cox sold 14,000 shares of Texas Instruments stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $82.25, for a total transaction of $1,151,500.00. Following the sale, the director now directly owns 38,435 shares in the company, valued at $3,161,278.75. The disclosure for this sale can be found here. Insiders have sold a total of 211,301 shares of company stock worth $17,259,256 over the last ninety days. 0.96% of the stock is currently owned by insiders.
Texas Instruments Company Profile
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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