Stewart & Patten Co. LLC Purchases 29,615 Shares of Texas Instruments Incorporated (TXN)

Stewart & Patten Co. LLC lifted its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 153.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 48,853 shares of the semiconductor company’s stock after acquiring an additional 29,615 shares during the period. Stewart & Patten Co. LLC’s holdings in Texas Instruments were worth $4,379,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the company. Cable Hill Partners LLC grew its position in shares of Texas Instruments by 70.9% during the third quarter. Cable Hill Partners LLC now owns 1,789 shares of the semiconductor company’s stock worth $160,000 after acquiring an additional 742 shares during the last quarter. Schwartz Investment Counsel Inc. grew its position in shares of Texas Instruments by 134.9% during the third quarter. Schwartz Investment Counsel Inc. now owns 86,200 shares of the semiconductor company’s stock worth $7,727,000 after acquiring an additional 49,500 shares during the last quarter. Garner Asset Management Corp bought a new position in shares of Texas Instruments during the third quarter worth about $220,000. Markel Corp grew its position in shares of Texas Instruments by 5.6% during the third quarter. Markel Corp now owns 526,000 shares of the semiconductor company’s stock worth $47,151,000 after acquiring an additional 28,000 shares during the last quarter. Finally, Fortaleza Asset Management Inc. bought a new position in shares of Texas Instruments during the third quarter worth about $633,000. Institutional investors and hedge funds own 84.22% of the company’s stock.

Several research firms have recently commented on TXN. B. Riley restated a “neutral” rating and set a $89.00 price target on shares of Texas Instruments in a research report on Monday, July 31st. Sanford C. Bernstein reiterated an “outperform” rating and issued a $95.00 target price on shares of Texas Instruments in a research report on Tuesday, September 26th. Stifel Nicolaus reiterated a “hold” rating and issued a $85.00 target price on shares of Texas Instruments in a research report on Wednesday, October 4th. Jefferies Group LLC reiterated a “buy” rating and issued a $96.00 target price on shares of Texas Instruments in a research report on Monday, September 25th. Finally, SunTrust Banks, Inc. reiterated a “hold” rating and issued a $86.00 target price (up previously from $84.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $93.85.

In other Texas Instruments news, CEO Richard K. Templeton sold 190,000 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $96.88, for a total transaction of $18,407,200.00. Following the transaction, the chief executive officer now owns 1,137,056 shares in the company, valued at $110,157,985.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Richard K. Templeton sold 450,000 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $96.51, for a total value of $43,429,500.00. Following the transaction, the chairman now owns 1,137,056 shares in the company, valued at approximately $109,737,274.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,467,689 shares of company stock worth $140,387,382. Insiders own 0.96% of the company’s stock.

Shares of Texas Instruments Incorporated (TXN) opened at $96.94 on Monday. The stock has a market cap of $95,540.24, a P/E ratio of 23.88, a PEG ratio of 2.33 and a beta of 1.28. The company has a quick ratio of 2.96, a current ratio of 3.89 and a debt-to-equity ratio of 0.28. Texas Instruments Incorporated has a 52-week low of $69.00 and a 52-week high of $99.05.

Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings data on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.14. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.91 billion. Texas Instruments had a net margin of 29.98% and a return on equity of 38.88%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.94 earnings per share. research analysts anticipate that Texas Instruments Incorporated will post 4.33 EPS for the current fiscal year.

Texas Instruments declared that its Board of Directors has approved a stock repurchase plan on Thursday, September 21st that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 74% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 31st will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.56%. The ex-dividend date is Monday, October 30th. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.50. Texas Instruments’s dividend payout ratio (DPR) is presently 57.94%.

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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.

Institutional Ownership by Quarter for Texas Instruments (NASDAQ:TXN)

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