Penobscot Investment Management Company Inc. Buys 720 Shares of Texas Instruments Incorporated (TXN)
Penobscot Investment Management Company Inc. lifted its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 5.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,149 shares of the semiconductor company’s stock after buying an additional 720 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Texas Instruments were worth $1,179,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Texas Instruments by 2.1% in the second quarter. Vanguard Group Inc. now owns 81,330,150 shares of the semiconductor company’s stock worth $6,256,728,000 after buying an additional 1,683,613 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Texas Instruments by 1.1% in the second quarter. BlackRock Inc. now owns 65,400,461 shares of the semiconductor company’s stock worth $5,031,257,000 after buying an additional 681,821 shares during the last quarter. State Street Corp boosted its stake in shares of Texas Instruments by 1.4% in the first quarter. State Street Corp now owns 40,943,910 shares of the semiconductor company’s stock worth $3,298,445,000 after buying an additional 573,645 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Texas Instruments by 0.4% in the second quarter. Northern Trust Corp now owns 13,556,007 shares of the semiconductor company’s stock worth $1,042,864,000 after buying an additional 53,846 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Texas Instruments by 729.1% in the second quarter. Janus Henderson Group PLC now owns 12,427,361 shares of the semiconductor company’s stock worth $955,996,000 after buying an additional 10,928,410 shares during the last quarter. Hedge funds and other institutional investors own 84.22% of the company’s stock.
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In other news, insider R Gregory Delagi sold 238,750 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $97.44, for a total transaction of $23,263,800.00. Following the completion of the transaction, the insider now directly owns 189,234 shares in the company, valued at $18,438,960.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mark A. Blinn sold 16,990 shares of the firm’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $96.44, for a total value of $1,638,515.60. Following the transaction, the director now owns 18,495 shares of the company’s stock, valued at $1,783,657.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,362,293 shares of company stock valued at $131,754,396. Company insiders own 0.96% of the company’s stock.
A number of equities analysts recently weighed in on TXN shares. Robert W. Baird upped their price target on Texas Instruments from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. BidaskClub raised Texas Instruments from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 2nd. Zacks Investment Research cut Texas Instruments from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Barclays PLC upped their price target on Texas Instruments from $85.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 18th. Finally, Royal Bank Of Canada upped their price target on Texas Instruments from $95.00 to $96.00 and gave the stock an “outperform” rating in a report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. Texas Instruments currently has an average rating of “Buy” and an average price target of $93.85.
Texas Instruments Incorporated (NASDAQ TXN) opened at $97.74 on Friday. Texas Instruments Incorporated has a 52-week low of $69.92 and a 52-week high of $99.05. The company has a market capitalization of $96,900.00, a price-to-earnings ratio of 23.88, a PEG ratio of 2.33 and a beta of 1.28. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.96 and a current ratio of 3.89.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.12 by $0.14. Texas Instruments had a return on equity of 38.88% and a net margin of 29.98%. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same period last year, the business posted $0.94 earnings per share. The company’s quarterly revenue was up 12.0% on a year-over-year basis. equities research analysts predict that Texas Instruments Incorporated will post 4.33 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st were given a dividend of $0.62 per share. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.50. This represents a $2.48 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Monday, October 30th. Texas Instruments’s dividend payout ratio (DPR) is currently 56.49%.
Texas Instruments announced that its Board of Directors has initiated a stock repurchase plan on Thursday, September 21st that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 74% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
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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