Atalanta Sosnoff Capital LLC Invests $217,000 in Texas Instruments Incorporated (TXN)
Atalanta Sosnoff Capital LLC bought a new position in Texas Instruments Incorporated (NASDAQ:TXN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,076 shares of the semiconductor company’s stock, valued at approximately $217,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BerganKDV Wealth Management LLC lifted its position in Texas Instruments by 53.3% during the third quarter. BerganKDV Wealth Management LLC now owns 12,034 shares of the semiconductor company’s stock valued at $1,079,000 after purchasing an additional 4,182 shares during the period. Ingalls & Snyder LLC lifted its position in Texas Instruments by 9.6% during the third quarter. Ingalls & Snyder LLC now owns 12,600 shares of the semiconductor company’s stock valued at $1,129,000 after purchasing an additional 1,100 shares during the period. PGGM Investments lifted its position in Texas Instruments by 102.8% during the third quarter. PGGM Investments now owns 956,619 shares of the semiconductor company’s stock valued at $85,751,000 after purchasing an additional 484,906 shares during the period. Sather Financial Group Inc bought a new position in Texas Instruments during the second quarter valued at approximately $600,000. Finally, Legal & General Group Plc lifted its position in Texas Instruments by 1.5% during the second quarter. Legal & General Group Plc now owns 5,089,028 shares of the semiconductor company’s stock valued at $391,499,000 after purchasing an additional 73,740 shares during the period. Hedge funds and other institutional investors own 83.82% of the company’s stock.
A number of brokerages recently weighed in on TXN. Royal Bank of Canada restated a “buy” rating and set a $112.00 price objective on shares of Texas Instruments in a research report on Thursday, January 4th. BidaskClub upgraded shares of Texas Instruments from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 21st. Morgan Stanley upped their target price on shares of Texas Instruments from $88.00 to $92.00 and gave the company an “equal weight” rating in a report on Wednesday, December 13th. KeyCorp reaffirmed a “hold” rating on shares of Texas Instruments in a report on Friday, November 24th. Finally, Mizuho reaffirmed a “hold” rating on shares of Texas Instruments in a report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $95.51.
In other news, Director Mark A. Blinn sold 16,990 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $96.44, for a total value of $1,638,515.60. Following the completion of the sale, the director now directly owns 18,495 shares of the company’s stock, valued at $1,783,657.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Richard K. Templeton sold 450,000 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $96.51, for a total transaction of $43,429,500.00. Following the completion of the sale, the chairman now directly owns 1,137,056 shares of the company’s stock, valued at $109,737,274.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,362,293 shares of company stock valued at $131,754,396. Corporate insiders own 0.96% of the company’s stock.
Shares of Texas Instruments Incorporated (TXN) traded up $0.75 during midday trading on Tuesday, hitting $110.39. 4,746,904 shares of the stock were exchanged, compared to its average volume of 5,194,500. The company has a current ratio of 3.89, a quick ratio of 2.96 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $108,800.00, a PE ratio of 25.15, a PEG ratio of 2.49 and a beta of 1.27. Texas Instruments Incorporated has a 1 year low of $73.87 and a 1 year high of $110.98.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings data 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. The firm had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $3.91 billion. Texas Instruments had a net margin of 29.98% and a return on equity of 38.88%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.94 earnings per share. sell-side analysts expect that Texas Instruments Incorporated will post 4.36 earnings per share for the current fiscal year.
Texas Instruments declared that its board has authorized a stock buyback plan on Thursday, September 21st that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase up to 74% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
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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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