Fox Run Management L.L.C. Purchases New Position in Texas Instruments Incorporated (TXN)
Fox Run Management L.L.C. purchased a new position in shares of Texas Instruments Incorporated (NASDAQ:TXN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,707 shares of the semiconductor company’s stock, valued at approximately $290,000.
A number of other large investors also recently made changes to their positions in TXN. Bridgeworth LLC increased its stake in Texas Instruments by 28.7% in the second quarter. Bridgeworth LLC now owns 3,064 shares of the semiconductor company’s stock valued at $337,000 after purchasing an additional 683 shares during the period. Gulf International Bank UK Ltd increased its stake in Texas Instruments by 1.5% in the second quarter. Gulf International Bank UK Ltd now owns 316,213 shares of the semiconductor company’s stock valued at $34,862,000 after purchasing an additional 4,665 shares during the period. Flagship Harbor Advisors LLC increased its stake in Texas Instruments by 9.8% in the second quarter. Flagship Harbor Advisors LLC now owns 10,190 shares of the semiconductor company’s stock valued at $1,123,000 after purchasing an additional 906 shares during the period. AustralianSuper Pty Ltd increased its stake in Texas Instruments by 14.1% in the second quarter. AustralianSuper Pty Ltd now owns 1,461,000 shares of the semiconductor company’s stock valued at $161,075,000 after purchasing an additional 179,993 shares during the period. Finally, Independent Advisor Alliance increased its stake in Texas Instruments by 27.9% in the second quarter. Independent Advisor Alliance now owns 7,102 shares of the semiconductor company’s stock valued at $661,000 after purchasing an additional 1,551 shares during the period. Hedge funds and other institutional investors own 84.02% of the company’s stock.
TXN has been the topic of a number of recent research reports. Royal Bank of Canada lifted their price objective on shares of Texas Instruments from $125.00 to $127.00 and gave the company a “$115.68” rating in a research note on Wednesday, July 18th. Longbow Research upgraded shares of Texas Instruments from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 11th. Loop Capital initiated coverage on shares of Texas Instruments in a research note on Thursday, June 21st. They issued a “buy” rating and a $135.00 price objective on the stock. Bank of America lifted their price objective on shares of Texas Instruments from $138.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, July 25th. Finally, Sanford C. Bernstein set a $130.00 price objective on shares of Texas Instruments and gave the company a “buy” rating in a research note on Wednesday, July 25th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have issued a buy rating to the company’s stock. Texas Instruments presently has a consensus rating of “Hold” and a consensus target price of $121.58.
Shares of NASDAQ:TXN opened at $101.09 on Friday. The stock has a market capitalization of $104.31 billion, a PE ratio of 23.62, a PEG ratio of 2.06 and a beta of 1.19. The company has a current ratio of 6.54, a quick ratio of 5.12 and a debt-to-equity ratio of 0.48. Texas Instruments Incorporated has a fifty-two week low of $92.57 and a fifty-two week high of $120.75.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings data on Tuesday, July 24th. The semiconductor company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.03. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.96 billion. Texas Instruments had a net margin of 28.08% and a return on equity of 46.80%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 earnings per share. On average, equities analysts predict that Texas Instruments Incorporated will post 5.49 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Investors of record on Wednesday, October 31st will be issued a dividend of $0.77 per share. The ex-dividend date is Tuesday, October 30th. This represents a $3.08 dividend on an annualized basis and a yield of 3.05%. This is an increase from Texas Instruments’s previous quarterly dividend of $0.62. Texas Instruments’s payout ratio is currently 57.94%.
Texas Instruments announced that its board has approved a share repurchase program on Thursday, September 20th that authorizes the company to buyback $12.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 11.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
Texas Instruments Company Profile
Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. It operates in two segments, Analog and Embedded Processing. The Analog segment offers power products to manage power requirements in various levels using battery management solutions, portable components, power supply controls, point-of-load products, switches and interfaces, integrated protection devices, high-voltage products, and mobile lighting and display products.
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