Texas Instruments Incorporated (TXN) Shares Bought by Ontario Teachers Pension Plan Board
Ontario Teachers Pension Plan Board increased its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 9.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,712 shares of the semiconductor company’s stock after purchasing an additional 11,239 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Texas Instruments were worth $10,210,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of TXN. Legal & General Group Plc lifted its holdings in Texas Instruments by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 5,089,028 shares of the semiconductor company’s stock valued at $391,499,000 after acquiring an additional 73,740 shares during the last quarter. 1st Global Advisors Inc. acquired a new stake in Texas Instruments in the 1st quarter valued at about $406,000. Cullinan Associates Inc. lifted its holdings in Texas Instruments by 1.3% in the 2nd quarter. Cullinan Associates Inc. now owns 123,800 shares of the semiconductor company’s stock valued at $9,524,000 after acquiring an additional 1,575 shares during the last quarter. American International Group Inc. lifted its holdings in Texas Instruments by 1.6% in the 1st quarter. American International Group Inc. now owns 471,415 shares of the semiconductor company’s stock valued at $37,977,000 after acquiring an additional 7,369 shares during the last quarter. Finally, Glenview State Bank Trust DEPT. lifted its holdings in Texas Instruments by 1.0% in the 2nd quarter. Glenview State Bank Trust DEPT. now owns 98,967 shares of the semiconductor company’s stock valued at $7,613,000 after acquiring an additional 950 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on the stock. Royal Bank Of Canada upped their price target on shares of Texas Instruments from $95.00 to $96.00 and gave the company an “outperform” rating in a report on Wednesday, July 26th. UBS AG reissued a “buy” rating and issued a $93.00 price target (up from $91.00) on shares of Texas Instruments in a report on Wednesday, July 26th. Loop Capital reissued a “hold” rating and issued a $84.00 price target (up from $79.00) on shares of Texas Instruments in a report on Wednesday, July 26th. Drexel Hamilton upped their price target on shares of Texas Instruments from $93.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Finally, SunTrust Banks, Inc. reissued a “hold” rating and issued a $86.00 price target on shares of Texas Instruments in a report on Thursday, October 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. Texas Instruments presently has an average rating of “Buy” and a consensus price target of $87.44.
Shares of Texas Instruments Incorporated (TXN) opened at 95.18 on Friday. Texas Instruments Incorporated has a 12 month low of $66.80 and a 12 month high of $95.40. The company has a market cap of $94.23 billion, a PE ratio of 23.81 and a beta of 1.24. The firm’s 50-day moving average price is $88.24 and its 200-day moving average price is $82.41.
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, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.07. The firm 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 quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.76 EPS. Equities analysts predict that Texas Instruments Incorporated will post $4.13 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.62 per share. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, October 30th. This represents a $2.48 annualized dividend and a dividend yield of 2.61%. Texas Instruments’s payout ratio is 50.51%.
Texas Instruments declared that its board has authorized a stock buyback program on Thursday, September 21st that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 74% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other Texas Instruments news, Director Carrie Smith Cox sold 14,000 shares of the business’s stock in a transaction that occurred 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 owns 38,435 shares of the company’s stock, valued at approximately $3,161,278.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kevin J. Ritchie sold 105,396 shares of the business’s stock in a transaction that occurred 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 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. Insiders have sold a total of 211,301 shares of company stock worth $17,259,256 in the last ninety days. Insiders own 0.96% of the company’s stock.
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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