Sterling Capital Management LLC Raises Stake in Texas Instruments Incorporated (TXN)
Sterling Capital Management LLC grew its position in Texas Instruments Incorporated (NASDAQ:TXN) by 10.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,780 shares of the semiconductor company’s stock after purchasing an additional 810 shares during the period. Sterling Capital Management LLC’s holdings in Texas Instruments were worth $942,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Capital Investment Advisors LLC purchased a new stake in shares of Texas Instruments during the second quarter worth $418,000. Xact Kapitalforvaltning AB grew its holdings in shares of Texas Instruments by 6.4% during the second quarter. Xact Kapitalforvaltning AB now owns 107,159 shares of the semiconductor company’s stock worth $11,814,000 after buying an additional 6,417 shares in the last quarter. NN Investment Partners Holdings N.V. grew its holdings in shares of Texas Instruments by 21.1% during the second quarter. NN Investment Partners Holdings N.V. now owns 298,093 shares of the semiconductor company’s stock worth $32,865,000 after buying an additional 51,941 shares in the last quarter. BKD Wealth Advisors LLC purchased a new stake in shares of Texas Instruments during the second quarter worth $207,000. Finally, Stokes Capital Advisors LLC grew its holdings in shares of Texas Instruments by 3.1% during the second quarter. Stokes Capital Advisors LLC now owns 28,162 shares of the semiconductor company’s stock worth $3,105,000 after buying an additional 835 shares in the last quarter. Institutional investors own 84.41% of the company’s stock.
In other Texas Instruments news, insider Kyle M. Flessner sold 16,088 shares of the company’s stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $94.00, for a total value of $1,512,272.00. Following the transaction, the insider now owns 43,270 shares of the company’s stock, valued at $4,067,380. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Martin S. Craighead bought 10,900 shares of the firm’s stock in a transaction on Thursday, October 25th. The stock was bought at an average cost of $91.70 per share, for a total transaction of $999,530.00. Following the transaction, the director now directly owns 13,100 shares of the company’s stock, valued at $1,201,270. The disclosure for this purchase can be found here. Corporate insiders own 0.84% of the company’s stock.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, October 23rd. The semiconductor company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.05. Texas Instruments had a net margin of 29.62% and a return on equity of 50.03%. The firm had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the previous year, the company posted $1.26 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. As a group, analysts forecast that Texas Instruments Incorporated will post 5.42 earnings per share for the current year.
Texas Instruments declared that its board has approved a share buyback plan on Thursday, September 20th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 11.2% 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.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Wednesday, October 31st will be given a $0.77 dividend. The ex-dividend date is Tuesday, October 30th. This represents a $3.08 dividend on an annualized basis and a yield of 3.20%. This is a boost from Texas Instruments’s previous quarterly dividend of $0.62. Texas Instruments’s dividend payout ratio is presently 71.96%.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Texas Instruments from a “sell” rating to a “hold” rating in a report on Thursday, October 25th. UBS Group dropped their target price on shares of Texas Instruments from $93.00 to $90.00 and set a “sell” rating for the company in a report on Wednesday, October 24th. Macquarie set a $100.00 target price on shares of Texas Instruments and gave the stock a “hold” rating in a report on Wednesday, October 24th. Nomura dropped their target price on shares of Texas Instruments from $115.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, October 24th. Finally, Royal Bank of Canada dropped their target price on shares of Texas Instruments to $120.00 and set an “outperform” rating for the company in a report on Wednesday, October 24th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have given a buy rating to the company. Texas Instruments has an average rating of “Hold” and a consensus target price of $117.11.
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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