Pittenger & Anderson Inc. Raises Stake in Texas Instruments Incorporated (TXN)
Pittenger & Anderson Inc. lifted its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 13.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,910 shares of the semiconductor company’s stock after purchasing an additional 2,060 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Texas Instruments were worth $1,766,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of TXN. Taylor Hoffman Wealth Management bought a new stake in Texas Instruments during the fourth quarter worth $105,000. Zions Bancorporation grew its holdings in Texas Instruments by 915.6% during the third quarter. Zions Bancorporation now owns 1,564 shares of the semiconductor company’s stock worth $140,000 after buying an additional 1,410 shares in the last quarter. Willingdon Wealth Management bought a new stake in Texas Instruments during the third quarter worth $141,000. Advantage Investment Management LLC grew its stake in Texas Instruments by 156.9% in the 3rd quarter. Advantage Investment Management LLC now owns 1,757 shares of the semiconductor company’s stock valued at $158,000 after purchasing an additional 1,073 shares during the period. Finally, SevenBridge Financial Group LLC grew its stake in Texas Instruments by 96.7% in the 3rd quarter. SevenBridge Financial Group LLC now owns 1,770 shares of the semiconductor company’s stock valued at $159,000 after purchasing an additional 870 shares during the period. 83.89% of the stock is currently owned by institutional investors.
A number of research analysts have issued reports on TXN shares. Drexel Hamilton restated a “buy” rating and issued a $130.00 price objective (up previously from $110.00) on shares of Texas Instruments in a research note on Tuesday, January 23rd. Zacks Investment Research upgraded Texas Instruments from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a research note on Saturday, January 20th. Oppenheimer restated a “buy” rating and issued a $130.00 price objective on shares of Texas Instruments in a research note on Friday, January 19th. Royal Bank of Canada restated a “buy” rating and issued a $112.00 price objective on shares of Texas Instruments in a research note on Thursday, January 4th. Finally, Mizuho restated a “buy” rating and issued a $107.00 price objective (up previously from $96.00) on shares of Texas Instruments in a research note on Tuesday, January 23rd. Fifteen equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Texas Instruments presently has a consensus rating of “Buy” and a consensus target price of $109.65.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, January 23rd. The semiconductor company reported $1.09 EPS for the quarter, meeting analysts’ consensus estimates of $1.09. Texas Instruments had a return on equity of 40.83% and a net margin of 24.61%. The firm had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. sell-side analysts forecast that Texas Instruments Incorporated will post 4.97 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 12th. Investors of record on Wednesday, January 31st were issued a dividend of $0.62 per share. The ex-dividend date was Tuesday, January 30th. This represents a $2.48 dividend on an annualized basis and a yield of 2.29%. Texas Instruments’s dividend payout ratio (DPR) is 68.89%.
In related news, SVP Cynthia Hoff Trochu sold 3,574 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $110.65, for a total transaction of $395,463.10. Following the sale, the senior vice president now owns 68,918 shares of the company’s stock, valued at approximately $7,625,776.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kevin J. Ritchie sold 49,955 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $103.00, for a total value of $5,145,365.00. The disclosure for this sale can be found here. Insiders have sold a total of 757,632 shares of company stock worth $83,306,399 in the last three months. 0.96% of the stock is currently owned by insiders.
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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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