CIBC Private Wealth Group LLC Has $42.29 Million Stake in Texas Instruments Incorporated (TXN)
CIBC Private Wealth Group LLC reduced its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 45.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 447,471 shares of the semiconductor company’s stock after selling 372,255 shares during the period. CIBC Private Wealth Group LLC’s holdings in Texas Instruments were worth $42,285,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in TXN. Vanguard Group Inc. lifted its holdings in Texas Instruments by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 85,524,906 shares of the semiconductor company’s stock worth $9,175,968,000 after buying an additional 807,808 shares in the last quarter. Vanguard Group Inc lifted its holdings in Texas Instruments by 1.0% during the 3rd quarter. Vanguard Group Inc now owns 85,524,906 shares of the semiconductor company’s stock worth $9,175,968,000 after buying an additional 807,808 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Texas Instruments by 3.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 23,763,599 shares of the semiconductor company’s stock worth $2,549,597,000 after buying an additional 811,931 shares in the last quarter. Capital International Investors lifted its holdings in Texas Instruments by 46.4% during the 3rd quarter. Capital International Investors now owns 16,525,393 shares of the semiconductor company’s stock worth $1,773,009,000 after buying an additional 5,240,065 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Texas Instruments by 2.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 13,837,835 shares of the semiconductor company’s stock worth $1,484,661,000 after buying an additional 337,435 shares in the last quarter. Institutional investors own 86.92% of the company’s stock.
Several research analysts have issued reports on TXN shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $100.00 price objective (down previously from $103.00) on shares of Texas Instruments in a report on Thursday, January 24th. BidaskClub downgraded Texas Instruments from a “hold” rating to a “sell” rating in a report on Friday, January 25th. B. Riley reduced their price objective on Texas Instruments from $123.00 to $110.00 and set a “neutral” rating on the stock in a report on Monday, October 22nd. BMO Capital Markets reaffirmed a “buy” rating and set a $120.00 price objective on shares of Texas Instruments in a report on Thursday, January 24th. Finally, Royal Bank of Canada reduced their price objective on Texas Instruments to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, October 24th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $108.74.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings data on Wednesday, January 23rd. The semiconductor company reported $1.27 EPS for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.03. Texas Instruments had a net margin of 35.35% and a return on equity of 53.05%. The business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the prior year, the company earned $1.09 EPS. The firm’s quarterly revenue was down .9% on a year-over-year basis. As a group, sell-side analysts forecast that Texas Instruments Incorporated will post 5.21 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, February 11th. Investors of record on Thursday, January 31st were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Wednesday, January 30th. Texas Instruments’s dividend payout ratio is currently 56.83%.
In other Texas Instruments news, Director Daniel A. Carp sold 14,749 shares of the stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $103.50, for a total transaction of $1,526,521.50. Following the completion of the transaction, the director now owns 51,573 shares in the company, valued at approximately $5,337,805.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Richard K. Templeton sold 90,842 shares of the stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $101.14, for a total value of $9,187,759.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 178,044 shares of company stock valued at $18,178,452. 0.84% of the stock is owned by corporate insiders.
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Texas Instruments 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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