Axa Has $91.04 Million Position in Texas Instruments Incorporated (TXN)
Axa lifted its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 6.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,183,375 shares of the semiconductor company’s stock after purchasing an additional 75,983 shares during the period. Axa owned 0.12% of Texas Instruments worth $91,037,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. American Beacon Advisors Inc. bought a new position in Texas Instruments in the 1st quarter worth $101,000. Patriot Financial Group Insurance Agency LLC raised its holdings in Texas Instruments by 18.4% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock worth $101,000 after acquiring an additional 200 shares during the period. MV Capital Management Inc. raised its holdings in Texas Instruments by 7.6% in the 2nd quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock worth $102,000 after acquiring an additional 93 shares during the period. ClariVest Asset Management LLC raised its holdings in Texas Instruments by 8.4% in the 1st quarter. ClariVest Asset Management LLC now owns 1,296 shares of the semiconductor company’s stock worth $104,000 after acquiring an additional 100 shares during the period. Finally, Balentine LLC raised its holdings in Texas Instruments by 6.5% in the 1st quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock worth $106,000 after acquiring an additional 80 shares during the period. 83.68% of the stock is owned by institutional investors and hedge funds.
Texas Instruments Incorporated (NASDAQ TXN) opened at 91.35 on Friday. Texas Instruments Incorporated has a 12 month low of $66.80 and a 12 month high of $91.54. The firm has a market capitalization of $90.44 billion, a price-to-earnings ratio of 22.85 and a beta of 1.24. The stock’s 50 day moving average is $84.73 and its 200-day moving average is $81.49.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.07. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period last year, the company posted $0.76 EPS. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities analysts anticipate that Texas Instruments Incorporated will post $4.13 earnings per share for the current fiscal year.
Texas Instruments announced that its board has authorized a share repurchase plan on Thursday, September 21st that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 74% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st will be paid a $0.62 dividend. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Monday, October 30th. Texas Instruments’s dividend payout ratio (DPR) is presently 50.51%.
Several brokerages recently commented on TXN. Drexel Hamilton lifted their target price on shares of Texas Instruments from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. B. Riley reiterated a “neutral” rating and issued a $89.00 target price on shares of Texas Instruments in a report on Monday, July 31st. Barclays PLC dropped their target price on shares of Texas Instruments from $78.00 to $83.00 in a report on Wednesday, July 26th. Cowen and Company reiterated a “market perform” rating and issued a $85.00 target price (up previously from $82.00) on shares of Texas Instruments in a report on Wednesday, July 26th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Texas Instruments in a report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $86.51.
In other news, insider Kevin J. Ritchie sold 105,396 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $81.91, for a total value of $8,632,986.36. Following the sale, the insider now directly owns 252,257 shares in the company, valued at approximately $20,662,370.87. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert E. Sanchez sold 26,905 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $81.48, for a total transaction of $2,192,219.40. Following the completion of the sale, the director now owns 27,565 shares in the company, valued at $2,245,996.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 211,301 shares of company stock worth $17,259,256. 0.96% of the stock is currently owned by corporate insiders.
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About Texas Instruments
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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