Searle & CO. Buys Shares of 2,500 Texas Instruments Incorporated (TXN)
Searle & CO. bought a new position in Texas Instruments Incorporated (NASDAQ:TXN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,500 shares of the semiconductor company’s stock, valued at approximately $224,000.
A number of other hedge funds also recently added to or reduced their stakes in TXN. BerganKDV Wealth Management LLC increased its stake in shares of Texas Instruments by 53.3% during the 3rd quarter. BerganKDV Wealth Management LLC now owns 12,034 shares of the semiconductor company’s stock worth $1,079,000 after purchasing an additional 4,182 shares during the last quarter. Ingalls & Snyder LLC increased its stake in shares of Texas Instruments by 9.6% during the 3rd quarter. Ingalls & Snyder LLC now owns 12,600 shares of the semiconductor company’s stock worth $1,129,000 after purchasing an additional 1,100 shares during the last quarter. PGGM Investments increased its stake in shares of Texas Instruments by 102.8% during the 3rd quarter. PGGM Investments now owns 956,619 shares of the semiconductor company’s stock worth $85,751,000 after purchasing an additional 484,906 shares during the last quarter. Sather Financial Group Inc acquired a new position in shares of Texas Instruments during the 2nd quarter worth $600,000. Finally, Legal & General Group Plc increased its stake in shares of Texas Instruments by 1.5% during the 2nd quarter. Legal & General Group Plc now owns 5,089,028 shares of the semiconductor company’s stock worth $391,499,000 after purchasing an additional 73,740 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.
TXN has been the topic of several analyst reports. Barclays PLC dropped their price target on shares of Texas Instruments from $78.00 to $83.00 in a research note on Wednesday, July 26th. UBS AG reiterated a “buy” rating and issued a $93.00 target price (up from $91.00) on shares of Texas Instruments in a research note on Wednesday, July 26th. Citigroup Inc. raised their target price on shares of Texas Instruments from $87.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. Drexel Hamilton raised their target price on shares of Texas Instruments from $93.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. Finally, BidaskClub lowered shares of Texas Instruments from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $93.85.
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In other Texas Instruments news, insider Ellen Barker sold 15,000 shares of the business’s 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 transaction, the insider now directly owns 45,697 shares of the company’s stock, valued at $3,741,213.39. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kevin J. Ritchie sold 105,396 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was 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 disclosure for this sale can be found here. Insiders have sold a total of 1,482,689 shares of company stock valued at $141,615,432 over the last three months. 0.96% of the stock is currently owned by insiders.
Texas Instruments Incorporated (TXN) opened at $96.94 on Friday. Texas Instruments Incorporated has a 1-year low of $69.00 and a 1-year high of $99.05. The stock has a market cap of $95,540.28, a PE ratio of 23.88, a P/E/G ratio of 2.33 and a beta of 1.28. The company has a current ratio of 3.89, a quick ratio of 2.96 and a debt-to-equity ratio of 0.28.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.14. Texas Instruments had a net margin of 29.98% and a return on equity of 38.88%. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same period last year, the firm posted $0.94 EPS. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. equities analysts predict that Texas Instruments Incorporated will post 4.33 earnings per share for the current fiscal year.
Texas Instruments declared that its Board of Directors has authorized a share buyback program on Thursday, September 21st that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 74% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 31st will be issued a dividend of $0.62 per share. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50. This represents a $2.48 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Monday, October 30th. Texas Instruments’s dividend payout ratio (DPR) is currently 57.94%.
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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