Chartwell Investment Partners LLC raised its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 20.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,438 shares of the semiconductor company’s stock after acquiring an additional 4,561 shares during the period. Chartwell Investment Partners LLC’s holdings in Texas Instruments were worth $2,837,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Kiley Juergens Wealth Management LLC purchased a new stake in shares of Texas Instruments in the second quarter worth about $100,000. Centaurus Financial Inc. purchased a new stake in shares of Texas Instruments in the second quarter worth about $101,000. Baker Ellis Asset Management LLC purchased a new stake in shares of Texas Instruments in the second quarter worth about $105,000. Kwmg LLC purchased a new stake in shares of Texas Instruments in the second quarter worth about $107,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in shares of Texas Instruments in the third quarter worth about $107,000. 85.51% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on the company. JPMorgan Chase & Co. cut their price target on Texas Instruments from $134.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 24th. B. Riley cut their price target on Texas Instruments from $123.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, October 22nd. Royal Bank of Canada cut their price target on Texas Instruments to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 24th. Zacks Investment Research cut Texas Instruments from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Finally, Sanford C. Bernstein reiterated a “buy” rating and issued a $115.00 price target on shares of Texas Instruments in a research note on Wednesday, October 24th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $117.11.
In related news, Director Martin S. Craighead bought 10,900 shares of the stock in a transaction dated Thursday, October 25th. The stock was bought at an average cost of $91.70 per share, with a total value of $999,530.00. Following the completion of the acquisition, the director now owns 13,100 shares of the company’s stock, valued at $1,201,270. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kyle M. Flessner sold 16,088 shares of the company’s stock in a transaction that occurred on 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 directly owns 43,270 shares of the company’s stock, valued at $4,067,380. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.
Shares of NASDAQ TXN opened at $94.62 on Tuesday. Texas Instruments Incorporated has a 52-week low of $87.90 and a 52-week high of $120.75. The company has a market cap of $93.99 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 1.90 and a beta of 1.28. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.09 and a current ratio of 3.97.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings data on Tuesday, October 23rd. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.05. Texas Instruments had a return on equity of 50.03% and a net margin of 29.62%. 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 prior year, the firm posted $1.26 earnings per share. Texas Instruments’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, equities research analysts predict that Texas Instruments Incorporated will post 5.42 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 19th. Shareholders of record on Wednesday, October 31st were paid a dividend of $0.77 per share. The ex-dividend date was Tuesday, October 30th. This represents a $3.08 annualized dividend and a yield of 3.26%. This is a boost from Texas Instruments’s previous quarterly dividend of $0.62. Texas Instruments’s dividend payout ratio is presently 71.96%.
Texas Instruments declared that its board has approved a stock buyback plan on Thursday, September 20th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase up to 11.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.
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Texas Instruments 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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