Retirement Systems of Alabama raised its position in Texas Instruments Incorporated (NASDAQ:TXN – Free Report) by 33.1% during the third quarter, Holdings Channel reports. The fund owned 453,937 shares of the semiconductor company’s stock after acquiring an additional 112,941 shares during the period. Retirement Systems of Alabama’s holdings in Texas Instruments were worth $127,143,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Texas Instruments during the 2nd quarter valued at about $24,607,313,000. Bank of New York Mellon Corp bought a new position in shares of Texas Instruments in the 2nd quarter worth approximately $4,488,666,000. Bank of America Corp DE bought a new position in shares of Texas Instruments in the 2nd quarter worth approximately $3,700,842,000. Primecap Management Co. CA bought a new position in shares of Texas Instruments in the 2nd quarter worth approximately $2,538,063,000. Finally, Legal & General Group Plc purchased a new position in shares of Texas Instruments in the second quarter worth approximately $1,918,277,000. 84.99% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Texas Instruments
In other Texas Instruments news, Director Ronald Kirk sold 6,065 shares of Texas Instruments stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $310.39, for a total transaction of $1,882,515.35. Following the transaction, the director owned 15,462 shares of the company’s stock, valued at $4,799,250.18. The trade was a 28.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Janet Clark sold 4,306 shares of the company’s stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $302.46, for a total transaction of $1,302,392.76. Following the completion of the transaction, the director owned 11,341 shares of the company’s stock, valued at approximately $3,430,198.86. The trade was a 27.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 27,968 shares of company stock worth $8,236,892 in the last 90 days. Insiders own 0.60% of the company’s stock.
Texas Instruments Stock Up 6.6%
NASDAQ TXN opened at $295.73 on Tuesday. The stock’s 50-day moving average price is $279.80 and its 200-day moving average price is $261.92. The company has a quick ratio of 4.05, a current ratio of 5.59 and a debt-to-equity ratio of 0.67. Texas Instruments Incorporated has a 52 week low of $152.73 and a 52 week high of $334.03. The company has a market capitalization of $270.23 billion, a P/E ratio of 38.36, a price-to-earnings-growth ratio of 1.54 and a beta of 1.39.
Texas Instruments (NASDAQ:TXN – Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.22. The firm had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Texas Instruments had a return on equity of 40.51% and a net margin of 34.25%. The business’s quarterly revenue was up 27.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.48 EPS. On average, equities research analysts predict that Texas Instruments Incorporated will post 8.97 earnings per share for the current year.
Texas Instruments Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Friday, October 30th will be paid a dividend of $1.52 per share. This represents a $6.08 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, October 30th. This is a positive change from Texas Instruments’s previous quarterly dividend of $1.42. Texas Instruments’s dividend payout ratio (DPR) is 78.86%.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on TXN. Freedom Broker upgraded shares of Texas Instruments from a “hold” rating to a “buy” rating and boosted their target price for the company from $260.00 to $330.00 in a research report on Thursday, October 22nd. Mizuho decreased their price target on shares of Texas Instruments from $305.00 to $290.00 and set a “neutral” rating on the stock in a research report on Thursday, October 22nd. UBS Group decreased their price target on shares of Texas Instruments from $380.00 to $360.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. Weiss Ratings upgraded shares of Texas Instruments from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, November 4th. Finally, Zacks Research raised shares of Texas Instruments from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $315.37.
Get Our Latest Stock Report on TXN
About Texas Instruments
Texas Instruments Incorporated (NASDAQ:TXN) designs and manufactures analog and embedded semiconductor products used in industrial, automotive, personal electronics, communications equipment, and enterprise systems. Its analog products help manage power, sense and measure real-world signals, and support signal processing, while its embedded processing products provide computing and control functions within electronic systems.
The company offers a broad portfolio of semiconductors, including power-management devices, amplifiers, data converters, microcontrollers, processors, and connectivity products.
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