AMP Capital Investors Ltd boosted its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 5.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 629,066 shares of the semiconductor company’s stock after buying an additional 32,256 shares during the quarter. AMP Capital Investors Ltd owned approximately 0.06% of Texas Instruments worth $56,390,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. American Beacon Advisors Inc. purchased a new position in Texas Instruments during the 1st quarter valued at about $101,000. Patriot Financial Group Insurance Agency LLC increased its position in Texas Instruments by 18.4% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock valued at $101,000 after purchasing an additional 200 shares during the period. MV Capital Management Inc. increased its position in Texas Instruments by 7.6% during the 2nd quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock valued at $102,000 after purchasing an additional 93 shares during the period. Acrospire Investment Management LLC increased its position in Texas Instruments by 55.6% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the semiconductor company’s stock valued at $108,000 after purchasing an additional 500 shares during the period. Finally, American National Bank increased its position in Texas Instruments by 2,470.9% during the 2nd quarter. American National Bank now owns 1,414 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 1,359 shares during the period. Institutional investors own 83.97% of the company’s stock.
Texas Instruments Incorporated (NASDAQ:TXN) opened at $98.02 on Friday. 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 12 month low of $71.19 and a 12 month high of $99.79. The stock has a market cap of $95,619.08, a price-to-earnings ratio of 23.90, a P/E/G ratio of 2.32 and a beta of 1.27.
Texas Instruments (NASDAQ:TXN) last posted its earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.14. Texas Instruments had a net margin of 29.98% and a return on equity of 38.88%. The firm had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same period in the previous year, the business posted $0.94 EPS. The business’s revenue was up 12.0% compared to the same quarter last year. research analysts anticipate that Texas Instruments Incorporated will post 4.36 earnings per share for the current year.
Texas Instruments declared that its board has initiated a stock repurchase plan on Thursday, September 21st that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 74% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Monday, November 13th. Investors of record on Tuesday, October 31st were paid a $0.62 dividend. This is a boost from Texas Instruments’s previous quarterly dividend of $0.50. This represents a $2.48 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Monday, October 30th. Texas Instruments’s payout ratio is currently 57.94%.
In related news, insider R Gregory Delagi sold 238,750 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $97.44, for a total value of $23,263,800.00. Following the completion of the transaction, the insider now directly owns 189,234 shares in the company, valued at approximately $18,438,960.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Bing Xie sold 17,500 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $96.53, for a total transaction of $1,689,275.00. Following the completion of the transaction, the senior vice president now owns 78,102 shares of the company’s stock, valued at $7,539,186.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,362,293 shares of company stock valued at $131,754,396. Company insiders own 0.96% of the company’s stock.
TXN has been the topic of a number of research reports. Robert W. Baird raised their target price on shares of Texas Instruments from $85.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. BidaskClub raised shares of Texas Instruments from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 2nd. Zacks Investment Research downgraded shares of Texas Instruments from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Barclays lifted their price objective on shares of Texas Instruments from $85.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 18th. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $86.00 price objective on shares of Texas Instruments in a research report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $93.85.
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About Texas Instruments
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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