American International Group Inc. Has $42.16 Million Stake in Texas Instruments Incorporated (TXN)
American International Group Inc. decreased its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 470,296 shares of the semiconductor company’s stock after selling 4,204 shares during the period. American International Group Inc.’s holdings in Texas Instruments were worth $42,157,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Enterprise Financial Services Corp grew its holdings in Texas Instruments by 0.3% during the second quarter. Enterprise Financial Services Corp now owns 1,481 shares of the semiconductor company’s stock worth $114,000 after purchasing an additional 4 shares during the period. Financial Advisory Service Inc. grew its holdings in Texas Instruments by 0.4% during the second quarter. Financial Advisory Service Inc. now owns 3,171 shares of the semiconductor company’s stock worth $244,000 after purchasing an additional 12 shares during the period. Highland Private Wealth Management grew its holdings in Texas Instruments by 0.8% during the second quarter. Highland Private Wealth Management now owns 3,042 shares of the semiconductor company’s stock worth $234,000 after purchasing an additional 25 shares during the period. Guardian Life Insurance Co. of America grew its holdings in Texas Instruments by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 3,855 shares of the semiconductor company’s stock worth $311,000 after purchasing an additional 26 shares during the period. Finally, Hudock Capital Group LLC grew its holdings in Texas Instruments by 1.3% during the second quarter. Hudock Capital Group LLC now owns 2,003 shares of the semiconductor company’s stock worth $154,000 after purchasing an additional 26 shares during the period. Institutional investors own 83.95% of the company’s stock.
A number of research firms recently commented on TXN. Bank of America lifted their price target on Texas Instruments from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. SunTrust Banks restated a “hold” rating and set a $86.00 price objective on shares of Texas Instruments in a research report on Thursday, October 12th. Oppenheimer restated a “buy” rating and set a $110.00 price objective (up from $92.00) on shares of Texas Instruments in a research report on Wednesday, October 25th. Robert W. Baird raised their price objective on shares of Texas Instruments from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Finally, Stifel Nicolaus restated a “hold” rating and set a $85.00 price objective on shares of Texas Instruments in a research report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $93.85.
Texas Instruments Incorporated (NASDAQ TXN) traded down $1.50 during midday trading on Friday, hitting $95.79. 1,964,178 shares of the stock were exchanged, compared to its average volume of 4,565,941. 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 Incorporated has a 52 week low of $69.92 and a 52 week high of $99.79. The firm has a market capitalization of $95,890.00, a P/E ratio of 24.50, a price-to-earnings-growth ratio of 2.39 and a beta of 1.28.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.14. Texas Instruments had a net margin of 31.22% and a return on equity of 47.11%. The company had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same period in the previous year, the business earned $0.94 earnings per share. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. research analysts predict that Texas Instruments Incorporated will post 4.34 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.59%. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, October 30th. Texas Instruments’s payout ratio is presently 56.49%.
Texas Instruments declared that its Board of Directors has initiated a share repurchase plan on Thursday, September 21st that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 74% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In related news, Chairman Richard K. Templeton sold 450,000 shares of Texas Instruments stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $96.51, for a total value of $43,429,500.00. Following the transaction, the chairman now directly owns 1,137,056 shares of the company’s stock, valued at $109,737,274.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R Gregory Delagi sold 238,750 shares of Texas Instruments stock in a transaction that occurred on Monday, November 6th. The shares were 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 1,362,293 shares of company stock valued at $131,754,396. 0.96% of the stock is owned by company insiders.
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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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