Chesley Taft & Associates LLC Has $1.90 Million Stake in Texas Instruments Incorporated (TXN)
Chesley Taft & Associates LLC trimmed its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 6.6% in the 4th quarter, Holdings Channel reports. The firm owned 18,214 shares of the semiconductor company’s stock after selling 1,296 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Texas Instruments were worth $1,902,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Texas Instruments by 2.1% during the second quarter. Vanguard Group Inc. now owns 81,330,150 shares of the semiconductor company’s stock valued at $6,256,728,000 after buying an additional 1,683,613 shares during the period. BlackRock Inc. raised its position in Texas Instruments by 1.1% during the second quarter. BlackRock Inc. now owns 65,400,461 shares of the semiconductor company’s stock valued at $5,031,257,000 after buying an additional 681,821 shares during the period. Capital International Investors raised its position in Texas Instruments by 3.0% during the third quarter. Capital International Investors now owns 14,794,402 shares of the semiconductor company’s stock valued at $1,326,170,000 after buying an additional 435,938 shares during the period. Janus Henderson Group PLC raised its position in Texas Instruments by 16.5% during the third quarter. Janus Henderson Group PLC now owns 14,482,401 shares of the semiconductor company’s stock valued at $1,298,212,000 after buying an additional 2,055,040 shares during the period. Finally, Northern Trust Corp raised its position in Texas Instruments by 0.4% during the second quarter. Northern Trust Corp now owns 13,556,007 shares of the semiconductor company’s stock valued at $1,042,864,000 after buying an additional 53,846 shares during the period. 83.82% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Richard K. Templeton sold 190,000 shares of the stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $96.88, for a total transaction of $18,407,200.00. Following the transaction, the chief executive officer now owns 1,137,056 shares of the company’s stock, valued at approximately $110,157,985.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP R Gregory Delagi sold 61,250 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $96.75, for a total value of $5,925,937.50. Following the transaction, the vice president now directly owns 189,234 shares in the company, valued at approximately $18,308,389.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,362,293 shares of company stock worth $131,754,396. 0.96% of the stock is currently owned by insiders.
Several research firms recently weighed in on TXN. Royal Bank of Canada reissued a “buy” rating and set a $112.00 price target on shares of Texas Instruments in a research report on Thursday, January 4th. BidaskClub raised Texas Instruments from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 21st. Morgan Stanley upped their price target on Texas Instruments from $88.00 to $92.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 13th. KeyCorp reissued a “hold” rating on shares of Texas Instruments in a research report on Friday, November 24th. Finally, Mizuho reissued a “hold” rating on shares of Texas Instruments in a research report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $95.51.
Texas Instruments Incorporated (TXN) opened at $109.70 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.89 and a quick ratio of 2.96. Texas Instruments Incorporated has a 52-week low of $73.87 and a 52-week high of $110.98. The firm has a market capitalization of $108,120.00, a PE ratio of 24.99, a price-to-earnings-growth ratio of 2.49 and a beta of 1.27.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings data on Tuesday, October 24th. The semiconductor company reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.14. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.91 billion. Texas Instruments had a return on equity of 38.88% and a net margin of 29.98%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 EPS. sell-side analysts anticipate that Texas Instruments Incorporated will post 4.36 earnings per share for the current year.
Texas Instruments announced that its Board of Directors has authorized a stock repurchase plan on Thursday, September 21st that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 74% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
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Texas Instruments 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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