Cullinan Associates Inc. trimmed its position in Texas Instruments Incorporated (NASDAQ:TXN) by 1.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,086 shares of the semiconductor company’s stock after selling 1,577 shares during the period. Cullinan Associates Inc.’s holdings in Texas Instruments were worth $10,094,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kiley Juergens Wealth Management LLC acquired a new stake in Texas Instruments in the second quarter worth approximately $100,000. Centaurus Financial Inc. acquired a new stake in Texas Instruments in the second quarter worth approximately $101,000. Baker Ellis Asset Management LLC acquired a new stake in Texas Instruments in the second quarter worth approximately $105,000. Kwmg LLC acquired a new stake in Texas Instruments in the second quarter worth approximately $107,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in Texas Instruments in the third quarter worth approximately $107,000. Hedge funds and other institutional investors own 84.20% of the company’s stock.
NASDAQ:TXN traded down $1.03 during trading hours on Friday, hitting $98.51. 671,926 shares of the stock traded hands, compared to its average volume of 6,498,518. The company has a quick ratio of 5.12, a current ratio of 6.54 and a debt-to-equity ratio of 0.48. Texas Instruments Incorporated has a fifty-two week low of $92.57 and a fifty-two week high of $120.75. The company has a market cap of $98.72 billion, a P/E ratio of 23.39, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19.
Texas Instruments announced that its Board of Directors has initiated a stock repurchase plan on Thursday, September 20th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 11.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Wednesday, October 31st will be paid a dividend of $0.77 per share. This is an increase from Texas Instruments’s previous quarterly dividend of $0.62. This represents a $3.08 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Tuesday, October 30th. Texas Instruments’s payout ratio is 57.94%.
In other Texas Instruments news, insider Stephen A. Anderson sold 25,318 shares of the business’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $111.55, for a total transaction of $2,824,222.90. Following the sale, the insider now directly owns 131,153 shares of the company’s stock, valued at approximately $14,630,117.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.84% of the stock is owned by insiders.
A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded Texas Instruments from a “strong-buy” rating to a “hold” rating in a research report on Saturday, June 30th. B. Riley upped their target price on Texas Instruments from $115.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 25th. Atlantic Securities started coverage on Texas Instruments in a research report on Tuesday, July 10th. They issued an “overweight” rating and a $130.00 target price for the company. Loop Capital started coverage on Texas Instruments in a research report on Thursday, June 21st. They set a “buy” rating and a $135.00 price objective for the company. Finally, Sanford C. Bernstein set a $130.00 price objective on Texas Instruments and gave the company a “buy” rating in a research report on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $122.64.
Texas Instruments Company Profile
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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