First United Bank Trust Continues to Hold Stake in Texas Instruments Incorporated (TXN)
First United Bank Trust held its position in Texas Instruments Incorporated (NASDAQ:TXN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,889 shares of the semiconductor company’s stock at the end of the second quarter. First United Bank Trust’s holdings in Texas Instruments were worth $222,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of TXN. American Beacon Advisors Inc. bought a new position in Texas Instruments during the first quarter valued at $101,000. ClariVest Asset Management LLC boosted its position in Texas Instruments by 8.4% in the first quarter. ClariVest Asset Management LLC now owns 1,296 shares of the semiconductor company’s stock valued at $104,000 after buying an additional 100 shares during the period. Balentine LLC boosted its position in Texas Instruments by 6.5% in the first quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock valued at $106,000 after buying an additional 80 shares during the period. TCI Wealth Advisors Inc. boosted its position in Texas Instruments by 33.2% in the first quarter. TCI Wealth Advisors Inc. now owns 1,335 shares of the semiconductor company’s stock valued at $108,000 after buying an additional 333 shares during the period. Finally, American National Bank boosted its position in Texas Instruments by 2,470.9% in the second quarter. American National Bank now owns 1,414 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 1,359 shares during the period. Institutional investors own 83.67% of the company’s stock.
Texas Instruments Incorporated (TXN) traded up 0.53% during trading on Thursday, reaching $82.75. The company’s stock had a trading volume of 1,651,259 shares. The firm’s 50-day moving average price is $81.16 and its 200 day moving average price is $79.94. Texas Instruments Incorporated has a 12-month low of $66.30 and a 12-month high of $84.65. The company has a market capitalization of $81.93 billion, a P/E ratio of 20.70 and a beta of 1.21.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings data 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. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.57 billion. Texas Instruments had a return on equity of 36.52% and a net margin of 28.68%. The company’s revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.76 earnings per share. On average, analysts predict that Texas Instruments Incorporated will post $4.13 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Thursday, July 27th. Texas Instruments’s dividend payout ratio is presently 50.51%.
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Several research firms recently weighed in on TXN. Royal Bank Of Canada upped their price objective on shares of Texas Instruments from $95.00 to $96.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 26th. UBS AG reaffirmed a “buy” rating and issued a $93.00 target price (up previously from $91.00) on shares of Texas Instruments in a research note on Wednesday, July 26th. Loop Capital reaffirmed a “hold” rating and issued a $84.00 target price (up previously from $79.00) on shares of Texas Instruments in a research note on Wednesday, July 26th. Drexel Hamilton upped their target price on Texas Instruments from $93.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Finally, Zacks Investment Research lowered Texas Instruments from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Texas Instruments has a consensus rating of “Buy” and a consensus target price of $85.96.
In other news, insider Kevin J. Ritchie sold 105,396 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $81.91, for a total value of $8,632,986.36. Following the sale, the insider now owns 252,257 shares in the company, valued at $20,662,370.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Brian T. Crutcher sold 50,000 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $81.09, for a total value of $4,054,500.00. Following the completion of the sale, the chief operating officer now owns 201,440 shares in the company, valued at approximately $16,334,769.60. The disclosure for this sale can be found here. Insiders sold 211,301 shares of company stock worth $17,259,256 over the last three months. Corporate insiders own 0.96% of the company’s stock.
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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