Texas Instruments Incorporated (TXN) Stake Raised by Geneva Advisors LLC
Geneva Advisors LLC grew its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 1,295.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 108,882 shares of the semiconductor company’s stock after buying an additional 101,078 shares during the quarter. Geneva Advisors LLC’s holdings in Texas Instruments were worth $8,376,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of the company. American Beacon Advisors Inc. purchased a new stake in Texas Instruments in the first quarter worth approximately $101,000. MV Capital Management Inc. boosted its holdings in Texas Instruments by 7.6% in the second quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 93 shares during the last quarter. ClariVest Asset Management LLC boosted its holdings in Texas Instruments by 8.4% in the first quarter. ClariVest Asset Management LLC now owns 1,296 shares of the semiconductor company’s stock worth $104,000 after purchasing an additional 100 shares during the last quarter. Balentine LLC boosted its holdings in Texas Instruments by 6.5% in the first quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock worth $106,000 after purchasing an additional 80 shares during the last quarter. Finally, TCI Wealth Advisors Inc. boosted its holdings in Texas Instruments by 33.2% in the first quarter. TCI Wealth Advisors Inc. now owns 1,335 shares of the semiconductor company’s stock worth $108,000 after purchasing an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 83.68% of the company’s stock.
Texas Instruments Incorporated (TXN) opened at 88.27 on Monday. The stock 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 of $82.00 and a 200-day moving average of $80.72. Texas Instruments Incorporated has a 52 week low of $66.80 and a 52 week high of $88.45.
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 Zacks’ consensus estimate of $0.96 by $0.07. The business 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 company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.76 earnings per share. On average, equities analysts predict that Texas Instruments Incorporated will post $4.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.81%. This is a boost from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, October 30th. Texas Instruments’s dividend payout ratio is 50.51%.
Texas Instruments announced that its Board of Directors has approved a share buyback plan on Thursday, September 21st that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the semiconductor company to repurchase up to 74% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, insider Ellen Barker sold 15,000 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $81.87, for a total value of $1,228,050.00. Following the completion of the sale, the insider now directly owns 45,697 shares in the company, valued at $3,741,213.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Carrie Smith Cox sold 14,000 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 38,435 shares of the company’s stock, valued at $3,161,278.75. The disclosure for this sale can be found here. Insiders sold 211,301 shares of company stock valued at $17,259,256 over the last quarter. Company insiders own 0.96% of the company’s stock.
Several research firms have weighed in on TXN. BidaskClub upgraded shares of Texas Instruments from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 20th. Zacks Investment Research upgraded shares of Texas Instruments from a “hold” rating to a “buy” rating and set a $92.00 price target 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 target on shares of Texas Instruments in a research report on Friday, July 14th. Finally, Barclays PLC increased their price target 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. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Texas Instruments currently has a consensus rating of “Buy” and an average price target of $86.18.
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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