Dimensional Fund Advisors LP Raises Stake in Texas Instruments Incorporated (TXN)
Dimensional Fund Advisors LP grew its position in Texas Instruments Incorporated (NASDAQ:TXN) by 5.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,781,983 shares of the semiconductor company’s stock after purchasing an additional 141,177 shares during the period. Dimensional Fund Advisors LP owned approximately 0.28% of Texas Instruments worth $214,021,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc lifted its holdings in shares of Texas Instruments by 1.5% in 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 in the last quarter. 1st Global Advisors Inc. bought a new stake in shares of Texas Instruments in the first quarter valued at about $406,000. Cullinan Associates Inc. lifted its holdings in shares of Texas Instruments by 1.3% in the second quarter. Cullinan Associates Inc. now owns 123,800 shares of the semiconductor company’s stock valued at $9,524,000 after purchasing an additional 1,575 shares in the last quarter. American International Group Inc. lifted its holdings in shares of Texas Instruments by 1.6% in the first quarter. American International Group Inc. now owns 471,415 shares of the semiconductor company’s stock valued at $37,977,000 after purchasing an additional 7,369 shares in the last quarter. Finally, Glenview State Bank Trust DEPT. lifted its holdings in shares of Texas Instruments by 1.0% in the second quarter. Glenview State Bank Trust DEPT. now owns 98,967 shares of the semiconductor company’s stock valued at $7,613,000 after purchasing an additional 950 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.
Shares of Texas Instruments Incorporated (TXN) opened at 93.45 on Friday. The company’s 50-day moving average price is $87.89 and its 200-day moving average price is $82.30. The firm has a market cap of $92.52 billion, a P/E ratio of 23.37 and a beta of 1.24. Texas Instruments Incorporated has a 12 month low of $66.80 and a 12 month high of $93.73.
Texas Instruments (NASDAQ:TXN) last issued its earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share (EPS) 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 business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the previous year, the firm posted $0.76 EPS. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, analysts predict that Texas Instruments Incorporated will post $4.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st will be issued a dividend of $0.62 per share. This is a boost from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, October 30th. This represents a $2.48 dividend on an annualized basis and a yield of 2.65%. Texas Instruments’s payout ratio is presently 50.51%.
Texas Instruments declared that its board has approved a share repurchase plan on Thursday, September 21st that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor company to repurchase up to 74% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other Texas Instruments news, insider Kevin J. Ritchie sold 105,396 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $81.91, for a total transaction of $8,632,986.36. Following the sale, the insider now owns 252,257 shares of the company’s stock, valued at approximately $20,662,370.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carrie Smith Cox sold 14,000 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $82.25, for a total transaction of $1,151,500.00. Following the sale, the director now directly owns 38,435 shares in the company, valued at approximately $3,161,278.75. The disclosure for this sale can be found here. Insiders have sold a total of 211,301 shares of company stock worth $17,259,256 in the last three months. Insiders own 0.96% of the company’s stock.
TXN has been the topic of a number of research reports. Jefferies Group LLC restated a “buy” rating on shares of Texas Instruments in a report on Monday, July 10th. Cowen and Company reiterated a “hold” rating and set a $82.00 target price on shares of Texas Instruments in a report on Friday, July 14th. Zacks Investment Research upgraded Texas Instruments from a “sell” rating to a “hold” rating in a report on Monday, July 17th. Barclays PLC upped their target price on Texas Instruments from $77.00 to $83.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 18th. Finally, BidaskClub lowered Texas Instruments from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $86.92.
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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