Texas Instruments Incorporated (TXN) Shares Bought by Quantbot Technologies LP
Quantbot Technologies LP raised its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 151.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,988 shares of the semiconductor company’s stock after buying an additional 21,073 shares during the quarter. Quantbot Technologies LP’s holdings in Texas Instruments were worth $2,691,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Texas Instruments by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 81,330,150 shares of the semiconductor company’s stock valued at $6,256,728,000 after purchasing an additional 1,683,613 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Texas Instruments by 1.1% in the 2nd quarter. BlackRock Inc. now owns 65,400,461 shares of the semiconductor company’s stock valued at $5,031,257,000 after purchasing an additional 681,821 shares during the last quarter. State Street Corp lifted its stake in shares of Texas Instruments by 1.4% in the 1st quarter. State Street Corp now owns 40,943,910 shares of the semiconductor company’s stock valued at $3,298,445,000 after purchasing an additional 573,645 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Texas Instruments by 0.4% in the 2nd quarter. Northern Trust Corp now owns 13,556,007 shares of the semiconductor company’s stock valued at $1,042,864,000 after purchasing an additional 53,846 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Texas Instruments by 2.1% in the 2nd quarter. FMR LLC now owns 12,422,815 shares of the semiconductor company’s stock valued at $955,687,000 after purchasing an additional 250,488 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.
Texas Instruments Incorporated (NASDAQ TXN) opened at 94.27 on Wednesday. The stock has a market capitalization of $93.33 billion, a P/E ratio of 23.58 and a beta of 1.24. The company’s 50-day moving average price is $86.61 and its 200 day moving average price is $81.95. Texas Instruments Incorporated has a 52 week low of $66.80 and a 52 week high of $94.31.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings results 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. Texas Instruments had a return on equity of 36.52% and a net margin of 28.68%. The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same period last year, the firm earned $0.76 earnings per share. Texas Instruments’s quarterly revenue was up 12.8% on a year-over-year basis. Equities research analysts expect that Texas Instruments Incorporated will post $4.13 EPS for the current fiscal year.
The firm also recently declared 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 is a boost from Texas Instruments’s previous quarterly dividend of $0.50. This represents a $2.48 dividend on an annualized basis and a yield of 2.63%. Texas Instruments’s dividend payout ratio (DPR) is currently 50.51%.
Texas Instruments declared that its Board of Directors has initiated a stock repurchase program on Thursday, September 21st that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 74% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
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Several equities research analysts have recently issued reports on TXN shares. BidaskClub raised Texas Instruments from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 2nd. Royal Bank Of Canada raised their price objective on Texas Instruments from $95.00 to $96.00 and gave the company an “outperform” rating in a research note on Wednesday, July 26th. Zacks Investment Research raised Texas Instruments from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research note on Thursday, July 27th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Texas Instruments in a research note on Wednesday, October 4th. Finally, SunTrust Banks, Inc. reissued a “hold” rating and set a $86.00 price target on shares of Texas Instruments in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $86.51.
In other Texas Instruments news, Director Robert E. Sanchez sold 26,905 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $81.48, for a total transaction of $2,192,219.40. Following the transaction, the director now owns 27,565 shares of the company’s stock, valued at $2,245,996.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kevin J. Ritchie sold 105,396 shares of the firm’s stock in a transaction dated 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 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. Over the last 90 days, insiders sold 211,301 shares of company stock worth $17,259,256. 0.96% of the stock is owned by insiders.
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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