Texas Instruments Incorporated (TXN) Position Lifted by Investment Centers of America Inc.
Investment Centers of America Inc. lifted its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 30.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,998 shares of the semiconductor company’s stock after purchasing an additional 923 shares during the period. Investment Centers of America Inc.’s holdings in Texas Instruments were worth $308,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. American Beacon Advisors Inc. bought a new stake in Texas Instruments in the first quarter worth about $101,000. Patriot Financial Group Insurance Agency LLC raised its position in Texas Instruments by 18.4% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock worth $101,000 after acquiring an additional 200 shares during the period. MV Capital Management Inc. raised its position 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 acquiring an additional 93 shares during the period. ClariVest Asset Management LLC raised its position 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 acquiring an additional 100 shares during the period. Finally, Balentine LLC raised its position 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 acquiring an additional 80 shares during the period. 83.68% of the stock is currently owned by institutional investors.
In other Texas Instruments news, insider Kevin J. Ritchie sold 105,396 shares of Texas Instruments stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $81.91, for a total transaction of $8,632,986.36. Following the completion of the transaction, the insider now directly owns 252,257 shares of the company’s stock, valued at $20,662,370.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carrie Smith Cox sold 14,000 shares of Texas Instruments stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $82.25, for a total transaction of $1,151,500.00. Following the transaction, the director now directly owns 38,435 shares of the company’s stock, valued at $3,161,278.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 211,301 shares of company stock valued at $17,259,256. 0.96% of the stock is currently owned by insiders.
Shares of Texas Instruments Incorporated (TXN) opened at 93.59 on Friday. The company has a market capitalization of $92.66 billion, a price-to-earnings ratio of 23.41 and a beta of 1.24. The stock has a 50 day moving average of $86.45 and a 200-day moving average of $81.93. Texas Instruments Incorporated has a one year low of $66.80 and a one year high of $93.73.
Texas Instruments (NASDAQ:TXN) last posted its earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.07. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period last year, the firm posted $0.76 earnings per share. Texas Instruments’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities analysts expect that Texas Instruments Incorporated will post $4.13 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 31st will be issued a $0.62 dividend. The ex-dividend date of this dividend is Monday, October 30th. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.50. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.65%. Texas Instruments’s dividend payout ratio (DPR) is 50.51%.
Texas Instruments declared that its board has approved a stock repurchase program on Thursday, September 21st that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor company to repurchase up to 74% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
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TXN has been the topic of several research reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Texas Instruments in a research report on Tuesday, September 12th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Texas Instruments in a research report on Monday, July 10th. BidaskClub raised shares of Texas Instruments from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 2nd. Barclays PLC lowered their price objective on shares of Texas Instruments from $78.00 to $83.00 in a research report on Wednesday, July 26th. Finally, Citigroup Inc. lifted their price objective on shares of Texas Instruments from $87.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $86.51.
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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