State Board of Administration of Florida Retirement System Purchases 5,050 Shares of Texas Instruments Incorporated (TXN)
State Board of Administration of Florida Retirement System grew its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 0.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,457,418 shares of the semiconductor company’s stock after acquiring an additional 5,050 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.15% of Texas Instruments worth $130,643,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in TXN. Vanguard Group Inc. increased its holdings in Texas Instruments by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 81,330,150 shares of the semiconductor company’s stock worth $6,256,728,000 after purchasing an additional 1,683,613 shares in the last quarter. BlackRock Inc. increased its holdings in Texas Instruments by 1.1% in the 2nd quarter. BlackRock Inc. now owns 65,400,461 shares of the semiconductor company’s stock worth $5,031,257,000 after purchasing an additional 681,821 shares in the last quarter. State Street Corp increased its holdings in Texas Instruments by 1.4% in the 1st quarter. State Street Corp now owns 40,943,910 shares of the semiconductor company’s stock worth $3,298,445,000 after purchasing an additional 573,645 shares in the last quarter. Northern Trust Corp increased its holdings in Texas Instruments by 0.4% in the 2nd quarter. Northern Trust Corp now owns 13,556,007 shares of the semiconductor company’s stock worth $1,042,864,000 after purchasing an additional 53,846 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Texas Instruments by 729.1% in the 2nd quarter. Janus Henderson Group PLC now owns 12,427,361 shares of the semiconductor company’s stock worth $955,996,000 after purchasing an additional 10,928,410 shares in the last quarter. Hedge funds and other institutional investors own 84.22% of the company’s stock.
In other news, Chairman Richard K. Templeton sold 450,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $96.51, for a total value of $43,429,500.00. Following the sale, the chairman now directly owns 1,137,056 shares of the company’s stock, valued at approximately $109,737,274.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider R Gregory Delagi sold 238,750 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $97.44, for a total value of $23,263,800.00. Following the completion of the sale, the insider now directly owns 189,234 shares in the company, valued at $18,438,960.96. The disclosure for this sale can be found here. Insiders have sold a total of 1,362,293 shares of company stock worth $131,754,396 in the last quarter. Company insiders own 0.96% of the company’s stock.
Texas Instruments Incorporated (TXN) opened at $96.77 on Thursday. Texas Instruments Incorporated has a twelve month low of $69.92 and a twelve month high of $99.05. The stock has a market capitalization of $95,559.95, 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 analysts’ consensus estimates of $1.12 by $0.14. Texas Instruments had a return on equity of 38.88% and a net margin of 29.98%. The company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the previous year, the business earned $0.94 EPS. Texas Instruments’s revenue was up 12.0% compared to the same quarter last year. equities analysts forecast that Texas Instruments Incorporated will post 4.33 earnings per share for the current year.
Texas Instruments announced that its Board of Directors has approved a share repurchase program on Thursday, September 21st that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 74% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st were issued a dividend of $0.62 per share. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, October 30th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.56%. Texas Instruments’s dividend payout ratio is 57.94%.
A number of equities analysts have issued reports on TXN shares. Barclays PLC lowered their target price on Texas Instruments from $78.00 to $83.00 in a report on Wednesday, July 26th. UBS AG reissued a “buy” rating and issued a $93.00 price target (up previously from $91.00) on shares of Texas Instruments in a research note on Wednesday, July 26th. Citigroup Inc. increased their price target on 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 increased their price target on 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 cut Texas Instruments from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. Texas Instruments currently has a consensus rating of “Buy” and a consensus price target of $93.85.
Texas Instruments 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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