Cadence Bank NA decreased its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 11.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 6,573 shares of the semiconductor company’s stock after selling 810 shares during the period. Cadence Bank NA’s holdings in Texas Instruments were worth $589,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Texas Instruments by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 81,330,150 shares of the semiconductor company’s stock worth $6,256,728,000 after acquiring an additional 1,683,613 shares during the period. BlackRock Inc. grew its holdings in shares of Texas Instruments by 1.1% during the 2nd quarter. BlackRock Inc. now owns 65,400,461 shares of the semiconductor company’s stock worth $5,031,257,000 after acquiring an additional 681,821 shares during the period. State Street Corp grew its holdings in shares of Texas Instruments by 1.4% during the 1st quarter. State Street Corp now owns 40,943,910 shares of the semiconductor company’s stock worth $3,298,445,000 after acquiring an additional 573,645 shares during the period. Northern Trust Corp grew its holdings in shares of Texas Instruments by 0.4% during the 2nd quarter. Northern Trust Corp now owns 13,556,007 shares of the semiconductor company’s stock worth $1,042,864,000 after acquiring an additional 53,846 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in shares of Texas Instruments by 729.1% during the 2nd quarter. Janus Henderson Group PLC now owns 12,427,361 shares of the semiconductor company’s stock worth $955,996,000 after acquiring an additional 10,928,410 shares during the period. Hedge funds and other institutional investors own 84.22% of the company’s stock.
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Texas Instruments Incorporated (NASDAQ:TXN) opened at $96.94 on Monday. Texas Instruments Incorporated has a twelve month low of $69.00 and a twelve month high of $99.05. The company has a market capitalization of $95,540.24, a price-to-earnings ratio of 23.88, a P/E/G ratio of 2.33 and a beta of 1.28. The company has a quick ratio of 2.96, a current ratio of 3.89 and a debt-to-equity ratio of 0.28.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.14. Texas Instruments had a return on equity of 38.88% and a net margin of 29.98%. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the prior year, the business posted $0.94 EPS. Texas Instruments’s revenue for the quarter was up 12.0% compared to the same quarter last year. analysts anticipate that Texas Instruments Incorporated will post 4.33 earnings per share for the current year.
Texas Instruments announced that its Board of Directors has initiated a share buyback program on Thursday, September 21st that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 74% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Monday, October 30th. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.50. Texas Instruments’s dividend payout ratio is presently 57.94%.
In other Texas Instruments news, SVP Bing Xie sold 17,500 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $96.53, for a total value of $1,689,275.00. Following the completion of the sale, the senior vice president now owns 78,102 shares in the company, valued at approximately $7,539,186.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider R Gregory Delagi sold 238,750 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $97.44, for a total value of $23,263,800.00. Following the completion of the sale, the insider now owns 189,234 shares of the company’s stock, valued at approximately $18,438,960.96. The disclosure for this sale can be found here. Insiders sold a total of 1,467,689 shares of company stock valued at $140,387,382 in the last quarter. 0.96% of the stock is currently owned by company insiders.
Several analysts recently weighed in on the company. BMO Capital Markets restated an “outperform” rating on shares of Texas Instruments in a research note on Tuesday, September 12th. BidaskClub upgraded Texas Instruments from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 2nd. Barclays PLC cut their price target on Texas Instruments from $78.00 to $83.00 in a research note on Wednesday, July 26th. Citigroup Inc. upped their price target on Texas Instruments from $87.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Finally, Drexel Hamilton upped their price target on Texas Instruments from $93.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $93.85.
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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