Empirical Finance LLC purchased a new position in shares of Texas Instruments Incorporated (NASDAQ:TXN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,950 shares of the semiconductor company’s stock, valued at approximately $209,000.
Other institutional investors also recently made changes to their positions in the company. Seven Eight Capital LP acquired a new stake in Texas Instruments in the 3rd quarter valued at approximately $16,873,000. Northstar Investment Advisors LLC increased its position in Texas Instruments by 1.2% in the 3rd quarter. Northstar Investment Advisors LLC now owns 97,823 shares of the semiconductor company’s stock valued at $10,495,000 after acquiring an additional 1,140 shares during the period. Groesbeck Investment Management Corp NJ acquired a new stake in Texas Instruments in the 3rd quarter valued at approximately $1,073,000. Deltec Asset Management LLC increased its position in Texas Instruments by 357.1% in the 3rd quarter. Deltec Asset Management LLC now owns 12,800 shares of the semiconductor company’s stock valued at $1,373,000 after acquiring an additional 10,000 shares during the period. Finally, Highland Capital Management LLC increased its position in Texas Instruments by 28.2% in the 3rd quarter. Highland Capital Management LLC now owns 21,627 shares of the semiconductor company’s stock valued at $2,320,000 after acquiring an additional 4,753 shares during the period. Institutional investors and hedge funds own 84.02% of the company’s stock.
Several research firms recently commented on TXN. Goldman Sachs Group upgraded Texas Instruments from a “sell” rating to a “neutral” rating in a research report on Thursday. Susquehanna Bancshares lowered their target price on Texas Instruments from $135.00 to $120.00 and set a “positive” rating on the stock in a research report on Wednesday, October 10th. Zacks Investment Research upgraded Texas Instruments from a “sell” rating to a “hold” rating in a research report on Monday, October 8th. KeyCorp began coverage on Texas Instruments in a research report on Tuesday, September 25th. They issued a “sector weight” rating on the stock. Finally, BidaskClub upgraded Texas Instruments from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $122.64.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, July 24th. The semiconductor company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.03. Texas Instruments had a return on equity of 46.80% and a net margin of 28.08%. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period last year, the firm earned $1.03 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, research analysts expect that Texas Instruments Incorporated will post 5.49 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Wednesday, October 31st will be paid a dividend of $0.77 per share. The ex-dividend date is Tuesday, October 30th. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.62. This represents a $3.08 annualized dividend and a dividend yield of 3.09%. Texas Instruments’s dividend payout ratio (DPR) is currently 57.94%.
Texas Instruments announced that its board has authorized a stock repurchase program on Thursday, September 20th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 11.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other news, insider Stephen A. Anderson sold 25,318 shares of the firm’s stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $111.55, for a total transaction of $2,824,222.90. Following the completion of the sale, the insider now directly owns 131,153 shares of the company’s stock, valued at approximately $14,630,117.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.84% of the company’s stock.
About Texas Instruments
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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