Texas Instruments Incorporated (TXN) Shares Sold by Pictet Asset Management Ltd.
Pictet Asset Management Ltd. trimmed its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 887,526 shares of the semiconductor company’s stock after selling 9,800 shares during the quarter. Pictet Asset Management Ltd. owned about 0.09% of Texas Instruments worth $73,212,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Texas Instruments by 4.7% during the first quarter. Vanguard Group Inc. now owns 79,646,537 shares of the semiconductor company’s stock worth $6,416,325,000 after purchasing an additional 3,551,400 shares during the period. BlackRock Inc. boosted its position in Texas Instruments by 1,924.6% during the first quarter. BlackRock Inc. now owns 64,718,640 shares of the semiconductor company’s stock worth $5,213,733,000 after purchasing an additional 61,521,990 shares during the period. State Street Corp boosted its position in Texas Instruments by 1.4% during the first quarter. State Street Corp now owns 40,943,910 shares of the semiconductor company’s stock worth $3,298,445,000 after purchasing an additional 573,645 shares during the period. FMR LLC boosted its position in Texas Instruments by 12.3% during the first quarter. FMR LLC now owns 12,172,327 shares of the semiconductor company’s stock worth $980,603,000 after purchasing an additional 1,328,606 shares during the period. Finally, Geode Capital Management LLC boosted its position in Texas Instruments by 9.6% during the first quarter. Geode Capital Management LLC now owns 11,181,980 shares of the semiconductor company’s stock worth $899,705,000 after purchasing an additional 975,010 shares during the period. 83.69% of the stock is owned by hedge funds and other institutional investors.
In related news, COO Brian T. Crutcher sold 50,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $81.09, for a total transaction of $4,054,500.00. Following the transaction, 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 SEC, which is accessible through this link. Also, insider Kevin J. Ritchie sold 105,396 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $81.91, for a total value of $8,632,986.36. Following the transaction, the insider now directly owns 252,257 shares in the company, valued at $20,662,370.87. The disclosure for this sale can be found here. Over the last three months, insiders have sold 211,301 shares of company stock worth $17,259,256. 0.96% of the stock is currently owned by insiders.
Texas Instruments Incorporated (NASDAQ:TXN) opened at 81.38 on Friday. The stock has a 50 day moving average price of $81.45 and a 200 day moving average price of $80.33. The firm has a market cap of $80.57 billion, a P/E ratio of 20.36 and a beta of 1.20. Texas Instruments Incorporated has a 1-year low of $66.30 and a 1-year high of $84.65.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings data on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.07. The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Texas Instruments had a return on equity of 36.52% and a net margin of 28.68%. Texas Instruments’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the firm posted $0.76 EPS. On average, analysts anticipate that Texas Instruments Incorporated will post $4.13 EPS for the current year.
The company also recently disclosed 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. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.46%. Texas Instruments’s dividend payout ratio is 50.51%.
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A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Texas Instruments from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research report on Thursday, July 27th. BidaskClub raised shares of Texas Instruments from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 2nd. Cowen and Company reaffirmed a “hold” rating and set a $82.00 price objective on shares of Texas Instruments in a research report on Friday, July 14th. Barclays PLC lifted their price objective on shares of Texas Instruments from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 18th. Finally, SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $86.00 price objective (up from $84.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Texas Instruments presently has a consensus rating of “Buy” and an average target price of $85.96.
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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