Dupont Capital Management Corp Trims Holdings in Texas Instruments Incorporated (TXN)
Dupont Capital Management Corp cut its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 22.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 239,372 shares of the semiconductor company’s stock after selling 69,243 shares during the quarter. Dupont Capital Management Corp’s holdings in Texas Instruments were worth $21,457,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in TXN. American Beacon Advisors Inc. purchased a new stake in shares of Texas Instruments in the 1st quarter valued at approximately $101,000. Patriot Financial Group Insurance Agency LLC boosted its stake in Texas Instruments by 18.4% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock worth $101,000 after purchasing an additional 200 shares during the period. MV Capital Management Inc. boosted its stake in Texas Instruments by 7.6% during the 2nd quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 93 shares during the period. ClariVest Asset Management LLC lifted its stake in shares of 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 lifted its stake in shares of 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. Institutional investors own 84.22% of the company’s stock.
Texas Instruments Incorporated (TXN) opened at $96.77 on Thursday. Texas Instruments Incorporated has a twelve month low of $69.92 and a twelve month high of $99.05. The company has a market capitalization of $95,559.95, a P/E ratio of 23.88, a P/E/G ratio of 2.33 and a beta of 1.28. The company has a quick ratio of 2.96, a current ratio of 3.89 and a debt-to-equity ratio of 0.28.
Texas Instruments (NASDAQ:TXN) last announced its earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.14. Texas Instruments had a return on equity of 38.88% and a net margin of 29.98%. The firm had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter in the prior year, the business earned $0.94 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis. analysts expect that Texas Instruments Incorporated will post 4.33 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, November 13th. Investors of record on Tuesday, October 31st were given a $0.62 dividend. This is a boost from Texas Instruments’s previous quarterly dividend of $0.50. This represents a $2.48 annualized dividend and a yield of 2.56%. The ex-dividend date was Monday, October 30th. Texas Instruments’s dividend payout ratio (DPR) is 57.94%.
Texas Instruments announced that its board has initiated a stock buyback plan on Thursday, September 21st that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 74% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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TXN has been the subject of several recent analyst reports. BMO Capital Markets reiterated an “outperform” rating on shares of Texas Instruments in a research note on Tuesday, September 12th. BidaskClub upgraded shares of Texas Instruments from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 2nd. Barclays PLC dropped their target price on shares of Texas Instruments from $78.00 to $83.00 in a report on Wednesday, July 26th. Citigroup Inc. raised their target price on shares of Texas Instruments from $87.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Finally, Deutsche Bank AG lifted their price target on shares of Texas Instruments from $80.00 to $92.00 and gave the stock a “hold” rating in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $93.85.
In related news, COO Brian T. Crutcher sold 68,687 shares of Texas Instruments stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $96.10, for a total value of $6,600,820.70. Following the sale, the chief operating officer now owns 346,428 shares of the company’s stock, valued at approximately $33,291,730.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Darla H. Whitaker sold 118,799 shares of Texas Instruments stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $96.24, for a total value of $11,433,215.76. Following the completion of the sale, the vice president now directly owns 123,993 shares in the company, valued at approximately $11,933,086.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,362,293 shares of company stock valued at $131,754,396. 0.96% of the stock is owned by company insiders.
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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