Texas Instruments Incorporated (TXN) Stake Boosted by Strategy Asset Managers LLC
Strategy Asset Managers LLC lifted its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 25.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,770 shares of the semiconductor company’s stock after purchasing an additional 6,451 shares during the quarter. Strategy Asset Managers LLC’s holdings in Texas Instruments were worth $2,444,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Texas Instruments by 1,924.6% in the 1st quarter. BlackRock Inc. now owns 64,718,640 shares of the semiconductor company’s stock worth $5,213,733,000 after buying an additional 61,521,990 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Texas Instruments by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 79,646,537 shares of the semiconductor company’s stock worth $6,416,325,000 after buying an additional 3,551,400 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Texas Instruments by 252.0% in the 1st quarter. American Century Companies Inc. now owns 3,346,324 shares of the semiconductor company’s stock worth $269,580,000 after buying an additional 2,395,581 shares in the last quarter. Waddell & Reed Financial Inc. boosted its position in shares of Texas Instruments by 476.4% in the 1st quarter. Waddell & Reed Financial Inc. now owns 1,988,640 shares of the semiconductor company’s stock worth $160,205,000 after buying an additional 1,643,640 shares in the last quarter. Finally, Henderson Group PLC boosted its position in shares of Texas Instruments by 1,054.2% in the 1st quarter. Henderson Group PLC now owns 1,498,951 shares of the semiconductor company’s stock worth $120,763,000 after buying an additional 1,369,077 shares in the last quarter. 83.68% of the stock is currently owned by institutional investors and hedge funds.
In other Texas Instruments news, Director Carrie Smith Cox sold 14,000 shares of the business’s stock in a transaction on 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 transaction, the director now owns 38,435 shares of the company’s stock, valued at $3,161,278.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Kevin J. Ritchie sold 105,396 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $81.91, for a total value of $8,632,986.36. Following the completion of the transaction, the insider now directly owns 252,257 shares in the company, valued at approximately $20,662,370.87. The disclosure for this sale can be found here. In the last three months, insiders sold 211,301 shares of company stock worth $17,259,256. Insiders own 0.96% of the company’s stock.
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Shares of Texas Instruments Incorporated (NASDAQ:TXN) opened at 88.27 on Friday. The company has a market capitalization of $87.39 billion, a PE ratio of 22.08 and a beta of 1.20. The firm has a 50-day moving average price of $82.00 and a 200-day moving average price of $80.72. Texas Instruments Incorporated has a 1-year low of $66.80 and a 1-year high of $88.45.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings data on Tuesday, July 25th. The semiconductor company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.07. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.57 billion. Texas Instruments had a return on equity of 36.52% and a net margin of 28.68%. The business’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.76 earnings per share. Equities analysts anticipate that Texas Instruments Incorporated will post $4.13 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st will be paid a $0.62 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $2.48 dividend on an annualized basis and a yield of 2.81%. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.50. Texas Instruments’s payout ratio is currently 50.51%.
Texas Instruments declared that its board has approved a share repurchase program on Thursday, September 21st that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 74% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
Several research firms recently commented on TXN. BidaskClub upgraded shares of Texas Instruments from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Zacks Investment Research upgraded shares of Texas Instruments from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research report on Thursday, July 27th. BMO Capital Markets reiterated an “outperform” rating on shares of Texas Instruments in a research report on Tuesday, September 12th. Cowen and Company reiterated a “hold” rating and issued a $82.00 price objective on shares of Texas Instruments in a research report on Friday, July 14th. Finally, Barclays PLC upped their target price on shares of Texas Instruments from $77.00 to $83.00 and gave the company an “equal weight” rating in a report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Texas Instruments presently has an average rating of “Buy” and an average target price of $86.18.
Texas Instruments 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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