Affinity Wealth Management lessened its position in Texas Instruments Incorporated (NASDAQ:TXN) by 2.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,843 shares of the semiconductor company’s stock after selling 99 shares during the period. Affinity Wealth Management’s holdings in Texas Instruments were worth $373,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of TXN. BlackRock Inc. increased its stake in Texas Instruments by 1,924.6% in the first quarter. BlackRock Inc. now owns 64,718,640 shares of the semiconductor company’s stock valued at $5,213,733,000 after purchasing an additional 61,521,990 shares in the last quarter. Vanguard Group Inc. increased its stake in Texas Instruments by 4.7% in the first quarter. Vanguard Group Inc. now owns 79,646,537 shares of the semiconductor company’s stock valued at $6,416,325,000 after purchasing an additional 3,551,400 shares in the last quarter. Waddell & Reed Financial Inc. increased its stake in Texas Instruments by 476.4% in the first quarter. Waddell & Reed Financial Inc. now owns 1,988,640 shares of the semiconductor company’s stock valued at $160,205,000 after purchasing an additional 1,643,640 shares in the last quarter. Janus Capital Management LLC increased its position in shares of Texas Instruments by 22.3% during the first quarter. Janus Capital Management LLC now owns 7,433,168 shares of the semiconductor company’s stock worth $598,816,000 after acquiring an additional 1,353,492 shares in the last quarter. Finally, FMR LLC increased its position in shares of Texas Instruments by 12.3% during the first quarter. FMR LLC now owns 12,172,327 shares of the semiconductor company’s stock worth $980,603,000 after acquiring an additional 1,328,606 shares in the last quarter. 83.68% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on TXN shares. Barclays PLC lowered their price objective on shares of Texas Instruments from $78.00 to $83.00 in a research report on Wednesday, July 26th. UBS AG reissued a “buy” rating and set a $93.00 price objective (up previously from $91.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. Jefferies Group LLC reissued a “buy” rating on shares of Texas Instruments in a research report on Monday, July 10th. Citigroup Inc. increased their price objective on shares of Texas Instruments from $87.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Finally, Drexel Hamilton increased their price objective on shares of Texas Instruments from $93.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $86.51.
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In other Texas Instruments news, insider Kevin J. Ritchie sold 105,396 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $81.91, for a total transaction of $8,632,986.36. Following the sale, the insider now directly owns 252,257 shares of the company’s stock, valued at $20,662,370.87. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Brian T. Crutcher sold 50,000 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $81.09, for a total transaction of $4,054,500.00. Following the sale, the chief operating officer now directly owns 201,440 shares in the company, valued at $16,334,769.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 211,301 shares of company stock worth $17,259,256. Insiders own 0.96% of the company’s stock.
Shares of Texas Instruments Incorporated (NASDAQ TXN) opened at 92.87 on Thursday. The firm has a 50-day moving average of $85.76 and a 200 day moving average of $81.76. Texas Instruments Incorporated has a 52 week low of $66.80 and a 52 week high of $92.92. The firm has a market cap of $91.94 billion, a PE ratio of 23.23 and a beta of 1.24.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings data on Tuesday, July 25th. The semiconductor company reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.07. The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.57 billion. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. The company’s revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 earnings per share. Equities research analysts predict that Texas Instruments Incorporated will post $4.13 EPS for the current fiscal year.
Texas Instruments announced that its Board of Directors has initiated a share repurchase 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st will be issued a dividend of $0.62 per share. The ex-dividend date is Monday, October 30th. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50. This represents a $2.48 annualized dividend and a yield of 2.67%. Texas Instruments’s dividend payout ratio is 50.51%.
Texas Instruments Company 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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