Cullinan Associates Inc. Has $10.35 Million Stake in Texas Instruments Incorporated (TXN)
Cullinan Associates Inc. lessened its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 16.0% in the 4th quarter, Holdings Channel reports. The firm owned 99,133 shares of the semiconductor company’s stock after selling 18,867 shares during the quarter. Cullinan Associates Inc.’s holdings in Texas Instruments were worth $10,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. Berkshire Asset Management LLC PA raised its position in Texas Instruments by 53.5% in the fourth quarter. Berkshire Asset Management LLC PA now owns 14,792 shares of the semiconductor company’s stock worth $1,545,000 after acquiring an additional 5,156 shares in the last quarter. Charter Trust Co. raised its position in Texas Instruments by 1.2% in the fourth quarter. Charter Trust Co. now owns 39,470 shares of the semiconductor company’s stock worth $4,122,000 after acquiring an additional 479 shares in the last quarter. CAPROCK Group Inc. raised its position in Texas Instruments by 33.6% in the fourth quarter. CAPROCK Group Inc. now owns 18,749 shares of the semiconductor company’s stock worth $2,113,000 after acquiring an additional 4,717 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Texas Instruments by 4.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 5,131,931 shares of the semiconductor company’s stock worth $535,979,000 after acquiring an additional 216,334 shares in the last quarter. Finally, Coastline Trust Co purchased a new position in Texas Instruments in the fourth quarter worth $207,000. Institutional investors and hedge funds own 83.85% of the company’s stock.
Shares of Texas Instruments Incorporated (TXN) opened at $119.16 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.96 and a current ratio of 3.89. The company has a market capitalization of $117,440.00, a price-to-earnings ratio of 27.14, a P/E/G ratio of 2.57 and a beta of 1.27. Texas Instruments Incorporated has a 52 week low of $73.87 and a 52 week high of $119.43.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings data on Tuesday, October 24th. The semiconductor company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.14. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.91 billion. Texas Instruments had a return on equity of 38.88% and a net margin of 29.98%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.94 earnings per share. research analysts expect that Texas Instruments Incorporated will post 4.36 EPS for the current year.
Texas Instruments announced that its Board of Directors has initiated a share repurchase program on Thursday, September 21st that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 74% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
In related news, Chairman Richard K. Templeton sold 450,000 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $96.51, for a total transaction of $43,429,500.00. Following the sale, the chairman now owns 1,137,056 shares of the company’s stock, valued at $109,737,274.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP R Gregory Delagi sold 61,250 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $96.75, for a total value of $5,925,937.50. Following the sale, the vice president now directly owns 189,234 shares in the company, valued at approximately $18,308,389.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,362,293 shares of company stock worth $131,754,396. Corporate insiders own 0.96% of the company’s stock.
Several research analysts have issued reports on the company. Bank of America increased their price objective on Texas Instruments from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. SunTrust Banks reiterated a “hold” rating and issued a $86.00 price objective on shares of Texas Instruments in a research report on Thursday, October 12th. Oppenheimer reiterated a “buy” rating and issued a $110.00 price objective (up previously from $92.00) on shares of Texas Instruments in a research report on Wednesday, October 25th. Zacks Investment Research cut Texas Instruments from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Robert W. Baird upped their target price on Texas Instruments from $85.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Texas Instruments presently has an average rating of “Hold” and an average price target of $96.06.
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About Texas Instruments
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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