Greenwood Capital Associates LLC Sells 3,500 Shares of Texas Instruments Incorporated (TXN)
Greenwood Capital Associates LLC decreased its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 7.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,398 shares of the semiconductor company’s stock after selling 3,500 shares during the period. Greenwood Capital Associates LLC owned approximately 4,181.45% of Texas Instruments worth $3,711,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of TXN. American Beacon Advisors Inc. bought a new position in shares of Texas Instruments in the first quarter worth $101,000. Patriot Financial Group Insurance Agency LLC increased its position in shares of Texas Instruments by 18.4% in the second 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. increased its position in shares of Texas Instruments by 7.6% in the second 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. Balentine LLC increased its position in shares of Texas Instruments by 6.5% in the first quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock worth $106,000 after purchasing an additional 80 shares during the period. Finally, Acrospire Investment Management LLC increased its position in shares of Texas Instruments by 55.6% in the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the semiconductor company’s stock worth $108,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 84.22% of the company’s stock.
In related news, Director Mark A. Blinn sold 16,990 shares of Texas Instruments stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $96.44, for a total transaction of $1,638,515.60. Following the transaction, the director now owns 18,495 shares of the company’s stock, valued at $1,783,657.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Richard K. Templeton sold 450,000 shares of Texas Instruments stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $96.51, for a total value of $43,429,500.00. Following the transaction, the chairman now directly owns 1,137,056 shares in the company, valued at approximately $109,737,274.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,362,293 shares of company stock valued at $131,754,396. Corporate insiders own 0.96% of the company’s stock.
TXN has been the topic of several research analyst reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Texas Instruments in a research note on Wednesday, October 25th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $98.00 price objective (up from $85.00) on shares of Texas Instruments in a research note on Wednesday, October 25th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $110.00 price objective (up from $92.00) on shares of Texas Instruments in a research note on Wednesday, October 25th. Robert W. Baird raised their price objective on Texas Instruments from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. Finally, Deutsche Bank AG raised their price objective on Texas Instruments from $80.00 to $92.00 and gave the company a “hold” rating in a research note on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $93.85.
Shares of Texas Instruments Incorporated (NASDAQ TXN) opened at $97.74 on Friday. The company has a market capitalization of $96,328.73, a P/E ratio of 24.07, a PEG ratio of 2.35 and a beta of 1.28. Texas Instruments Incorporated has a 1-year low of $69.92 and a 1-year high of $99.05. The company has a current ratio of 3.89, a quick ratio of 2.96 and a debt-to-equity ratio of 0.28.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings data on Tuesday, October 24th. The semiconductor company reported $1.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.14. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.91 billion. Texas Instruments had a return on equity of 38.88% and a net margin of 29.98%. The company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.94 earnings per share. sell-side analysts expect that Texas Instruments Incorporated will post 4.34 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st were issued a dividend of $0.62 per share. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, October 30th. This represents a $2.48 annualized dividend and a dividend yield of 2.54%. Texas Instruments’s payout ratio is currently 57.94%.
Texas Instruments declared that its Board of Directors has initiated a stock buyback plan on Thursday, September 21st that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 74% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
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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