SSI Investment Management Inc. reduced its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,776 shares of the semiconductor company’s stock after selling 46 shares during the quarter. SSI Investment Management Inc.’s holdings in Texas Instruments were worth $290,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of TXN. Waldron LP acquired a new position in shares of Texas Instruments in the first quarter worth approximately $423,000. Montecito Bank & Trust lifted its stake in shares of Texas Instruments by 4.6% in the first quarter. Montecito Bank & Trust now owns 9,030 shares of the semiconductor company’s stock worth $727,000 after acquiring an additional 400 shares during the period. Allegis Investment Advisors LLC lifted its stake in shares of Texas Instruments by 2.2% in the first quarter. Allegis Investment Advisors LLC now owns 9,081 shares of the semiconductor company’s stock worth $732,000 after acquiring an additional 192 shares during the period. RB Capital Management LLC lifted its stake in shares of Texas Instruments by 0.6% in the first quarter. RB Capital Management LLC now owns 5,177 shares of the semiconductor company’s stock worth $417,000 after acquiring an additional 31 shares during the period. Finally, Thomaspartners Inc. lifted its stake in shares of Texas Instruments by 6.2% in the first quarter. Thomaspartners Inc. now owns 3,416,611 shares of the semiconductor company’s stock worth $275,242,000 after acquiring an additional 199,945 shares during the period. 83.68% of the stock is currently owned by institutional investors.
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A number of equities analysts recently commented on TXN shares. BidaskClub raised Texas Instruments from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 2nd. Royal Bank Of Canada lifted their target price on Texas Instruments from $95.00 to $96.00 and gave the stock an “outperform” rating in a report on Wednesday, July 26th. Zacks Investment Research upgraded Texas Instruments from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a report on Thursday, July 27th. Stifel Nicolaus reiterated a “hold” rating and issued a $85.00 target price on shares of Texas Instruments in a report on Wednesday, October 4th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $96.00 target price on shares of Texas Instruments in a report on Monday, September 25th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $86.51.
In other Texas Instruments news, insider Kevin J. Ritchie sold 105,396 shares of Texas Instruments stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $81.91, for a total value of $8,632,986.36. Following the completion of the sale, the insider now owns 252,257 shares of the company’s stock, valued at approximately $20,662,370.87. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ellen Barker sold 15,000 shares of Texas Instruments stock in a transaction on Monday, August 14th. The stock was sold at an average price of $81.87, for a total value of $1,228,050.00. Following the completion of the sale, the insider now directly owns 45,697 shares of the company’s stock, valued at approximately $3,741,213.39. The disclosure for this sale can be found here. In the last three months, insiders sold 211,301 shares of company stock valued at $17,259,256. Corporate insiders own 0.96% of the company’s stock.
Texas Instruments (NASDAQ:TXN) last posted its earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.07. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.57 billion. Texas Instruments had a return on equity of 36.52% and a net margin of 28.68%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st will be issued a $0.62 dividend. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, October 30th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.68%. Texas Instruments’s dividend payout ratio (DPR) is presently 50.51%.
Texas Instruments declared that its board has initiated a share buyback program on Thursday, September 21st that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 74% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
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.
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