Texas Instruments Incorporated (TXN) Shares Sold by Jennison Associates LLC
Jennison Associates LLC lessened its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 13.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,647,208 shares of the semiconductor company’s stock after selling 1,027,615 shares during the quarter. Jennison Associates LLC owned approximately 0.67% of Texas Instruments worth $595,856,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in TXN. Enterprise Financial Services Corp grew its stake in shares of Texas Instruments by 0.3% in the 2nd quarter. Enterprise Financial Services Corp now owns 1,481 shares of the semiconductor company’s stock valued at $114,000 after buying an additional 4 shares in the last quarter. Financial Advisory Service Inc. grew its stake in shares of Texas Instruments by 0.4% in the 2nd quarter. Financial Advisory Service Inc. now owns 3,171 shares of the semiconductor company’s stock valued at $244,000 after buying an additional 12 shares in the last quarter. Highland Private Wealth Management grew its stake in shares of Texas Instruments by 0.8% in the 2nd quarter. Highland Private Wealth Management now owns 3,042 shares of the semiconductor company’s stock valued at $234,000 after buying an additional 25 shares in the last quarter. Guardian Life Insurance Co. of America grew its stake in shares of Texas Instruments by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 3,855 shares of the semiconductor company’s stock valued at $311,000 after buying an additional 26 shares in the last quarter. Finally, Hudock Capital Group LLC grew its stake in shares of Texas Instruments by 1.3% in the 2nd quarter. Hudock Capital Group LLC now owns 2,003 shares of the semiconductor company’s stock valued at $154,000 after buying an additional 26 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors.
In other news, CEO Richard K. Templeton sold 190,000 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $96.88, for a total transaction of $18,407,200.00. Following the sale, the chief executive officer now owns 1,137,056 shares of the company’s stock, valued at $110,157,985.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider R Gregory Delagi sold 238,750 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 189,234 shares in the company, valued at approximately $18,438,960.96. The disclosure for this sale can be found here. Insiders sold 1,362,293 shares of company stock worth $131,754,396 in the last three months. Insiders own 0.96% of the company’s stock.
Texas Instruments Incorporated (TXN) opened at $98.28 on Tuesday. 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 Incorporated has a one year low of $69.92 and a one year high of $99.05. The stock has a market capitalization of $97,200.00, a price-to-earnings ratio of 24.07, a PEG ratio of 2.35 and a beta of 1.28.
Texas Instruments (NASDAQ:TXN) last released its earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share for the quarter, beating 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 firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The company’s quarterly revenue was up 12.0% on a year-over-year basis. analysts forecast that Texas Instruments Incorporated will post 4.34 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st were paid a $0.62 dividend. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, October 30th. This represents a $2.48 annualized dividend and a yield of 2.52%. Texas Instruments’s dividend payout ratio is presently 56.49%.
Texas Instruments announced that its board has approved a share buyback program on Thursday, September 21st that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 74% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Several equities research analysts recently weighed in on the company. B. Riley restated a “neutral” rating and issued a $89.00 target price on shares of Texas Instruments in a report on Monday, July 31st. Drexel Hamilton boosted their target price on Texas Instruments from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Cowen and Company restated a “market perform” rating and issued a $85.00 target price (up from $82.00) on shares of Texas Instruments in a report on Wednesday, July 26th. Barclays PLC reduced their target price on Texas Instruments from $78.00 to $83.00 in a report on Wednesday, July 26th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Texas Instruments in a report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price 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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