Richard C. Young & CO. LTD. Raises Stake in Texas Instruments Incorporated (TXN)

Richard C. Young & CO. LTD. grew its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,824 shares of the semiconductor company’s stock after purchasing an additional 1,229 shares during the period. Richard C. Young & CO. LTD.’s holdings in Texas Instruments were worth $4,371,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. American Beacon Advisors Inc. bought a new stake in Texas Instruments during the first quarter worth approximately $101,000. Patriot Financial Group Insurance Agency LLC boosted its position in Texas Instruments by 18.4% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock worth $101,000 after purchasing an additional 200 shares during the period. MV Capital Management Inc. boosted its position in Texas Instruments by 7.6% during the second quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 93 shares during the period. ClariVest Asset Management LLC boosted its position in Texas Instruments by 8.4% during the first quarter. ClariVest Asset Management LLC now owns 1,296 shares of the semiconductor company’s stock worth $104,000 after purchasing an additional 100 shares during the period. Finally, Balentine LLC boosted its position in Texas Instruments by 6.5% during the first quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock worth $106,000 after purchasing an additional 80 shares during the period. Institutional investors own 83.68% of the company’s stock.

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A number of brokerages have issued reports on TXN. B. Riley reaffirmed a “neutral” rating and set a $89.00 target price on shares of Texas Instruments in a research report on Monday, July 31st. Stifel Nicolaus reaffirmed a “hold” rating and set a $85.00 target price on shares of Texas Instruments in a research report on Wednesday, October 4th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $95.00 target price on shares of Texas Instruments in a research report on Tuesday, September 26th. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $86.00 target price on shares of Texas Instruments in a research report on Thursday. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $96.00 target price on shares of Texas Instruments in a research report on Monday, September 25th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $86.51.

Texas Instruments Incorporated (TXN) opened at 92.62 on Friday. The company has a market cap of $91.70 billion, a PE ratio of 23.17 and a beta of 1.24. Texas Instruments Incorporated has a 12-month low of $66.80 and a 12-month high of $93.31. The stock’s 50 day moving average price is $86.10 and its 200 day moving average price is $81.83.

Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.07. The business had revenue of $3.69 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 earnings per share. Equities research analysts anticipate that Texas Instruments Incorporated will post $4.13 EPS for the current year.

The company also recently declared 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. The ex-dividend date of this dividend is Monday, October 30th. This represents a $2.48 annualized dividend and a yield of 2.68%. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.50. Texas Instruments’s dividend payout ratio is presently 50.51%.

Texas Instruments announced that its Board of Directors has approved a stock repurchase program on Thursday, September 21st that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 74% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

In other news, Director Carrie Smith Cox sold 14,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $82.25, for a total value of $1,151,500.00. Following the completion of the sale, the director now directly owns 38,435 shares of the company’s stock, valued at $3,161,278.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Brian T. Crutcher sold 50,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $81.09, for a total value of $4,054,500.00. Following the completion of the sale, the chief operating officer now directly owns 201,440 shares of the company’s stock, valued at $16,334,769.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 211,301 shares of company stock worth $17,259,256. Corporate insiders own 0.96% of the company’s stock.

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.

Institutional Ownership by Quarter for Texas Instruments (NASDAQ:TXN)

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