First Manhattan Co. Lowers Holdings in Texas Instruments Incorporated (TXN)
First Manhattan Co. lowered its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 52,171 shares of the semiconductor company’s stock after selling 374 shares during the quarter. First Manhattan Co.’s holdings in Texas Instruments were worth $4,930,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Highwater Wealth Management LLC acquired a new position in shares of Texas Instruments in the 4th quarter valued at about $34,000. G&S Capital LLC lifted its holdings in shares of Texas Instruments by 25.0% in the 4th quarter. G&S Capital LLC now owns 725 shares of the semiconductor company’s stock valued at $69,000 after buying an additional 145 shares during the period. Legacy Financial Advisors Inc. lifted its holdings in shares of Texas Instruments by 67.7% in the 4th quarter. Legacy Financial Advisors Inc. now owns 976 shares of the semiconductor company’s stock valued at $92,000 after buying an additional 394 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in shares of Texas Instruments in the 3rd quarter valued at about $107,000. Finally, Girard Partners LTD. acquired a new position in shares of Texas Instruments in the 3rd quarter valued at about $119,000. 84.51% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on TXN shares. BidaskClub raised Texas Instruments from a “sell” rating to a “hold” rating in a report on Thursday, December 27th. Goldman Sachs Group reissued a “neutral” rating and issued a $92.00 price objective on shares of Texas Instruments in a report on Wednesday, October 24th. SunTrust Banks cut their price target on Texas Instruments to $93.00 and set a “hold” rating for the company in a research note on Wednesday, October 24th. Bank of America lowered Texas Instruments from a “buy” rating to a “neutral” rating and set a $89.50 price target for the company. in a research note on Friday, January 4th. Finally, Zacks Investment Research lowered Texas Instruments from a “hold” rating to a “sell” rating in a research note on Monday, January 21st. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $109.48.
TXN opened at $101.99 on Friday. Texas Instruments Incorporated has a one year low of $87.70 and a one year high of $118.48. The company has a market capitalization of $96.71 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 1.91 and a beta of 1.18. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.38 and a current ratio of 3.27.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings results on Wednesday, January 23rd. The semiconductor company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.03. Texas Instruments had a return on equity of 53.05% and a net margin of 35.35%. The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same period in the prior year, the firm earned $1.09 earnings per share. The firm’s revenue was down .9% compared to the same quarter last year. As a group, analysts anticipate that Texas Instruments Incorporated will post 5.21 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 11th. Stockholders of record on Thursday, January 31st will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend is Wednesday, January 30th. Texas Instruments’s payout ratio is currently 56.83%.
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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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