Horseman Capital Management Ltd Invests $1.54 Million in Texas Instruments Incorporated (TXN) Stock
Horseman Capital Management Ltd purchased a new stake in Texas Instruments Incorporated (NASDAQ:TXN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 20,000 shares of the semiconductor company’s stock, valued at approximately $1,539,000.
Other large investors also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Texas Instruments by 1,924.6% during the first quarter. BlackRock Inc. now owns 64,718,640 shares of the semiconductor company’s stock worth $5,213,733,000 after buying an additional 61,521,990 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Texas Instruments by 4.7% in the first quarter. Vanguard Group Inc. now owns 79,646,537 shares of the semiconductor company’s stock valued at $6,416,325,000 after acquiring an additional 3,551,400 shares during the last quarter. Waddell & Reed Financial Inc. boosted its holdings in shares of Texas Instruments by 476.4% in the 1st quarter. Waddell & Reed Financial Inc. now owns 1,988,640 shares of the semiconductor company’s stock worth $160,205,000 after acquiring an additional 1,643,640 shares in the last quarter. Henderson Group PLC boosted its holdings in shares of Texas Instruments by 1,054.2% in the 1st quarter. Henderson Group PLC now owns 1,498,951 shares of the semiconductor company’s stock worth $120,763,000 after acquiring an additional 1,369,077 shares in the last quarter. Finally, Janus Capital Management LLC boosted its holdings in shares of Texas Instruments by 22.3% in the 1st quarter. Janus Capital Management LLC now owns 7,433,168 shares of the semiconductor company’s stock worth $598,816,000 after acquiring an additional 1,353,492 shares in the last quarter. Hedge funds and other institutional investors own 83.68% of the company’s stock.
In other news, COO Brian T. Crutcher sold 50,000 shares of Texas Instruments stock in a transaction on Monday, July 31st. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carrie Smith Cox sold 14,000 shares of Texas Instruments 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 completion of the sale, the director now owns 38,435 shares of the company’s stock, valued at approximately $3,161,278.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 211,301 shares of company stock worth $17,259,256. Insiders own 0.96% of the company’s stock.
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Texas Instruments Incorporated (NASDAQ:TXN) opened at 89.64 on Monday. The firm has a market capitalization of $88.75 billion, a price-to-earnings ratio of 22.42 and a beta of 1.24. The company has a 50-day moving average of $82.00 and a 200-day moving average of $80.72. Texas Instruments Incorporated has a 52 week low of $66.80 and a 52 week high of $89.89.
Texas Instruments (NASDAQ:TXN) last released its earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.96 by $0.07. The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Texas Instruments had a return on equity of 36.52% and a net margin of 28.68%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 earnings per share. On average, equities analysts forecast that Texas Instruments Incorporated will post $4.13 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st will be paid a $0.62 dividend. The ex-dividend date is Monday, October 30th. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.50. This represents a $2.48 annualized dividend and a yield of 2.77%. Texas Instruments’s payout ratio is 50.51%.
Texas Instruments announced that its board has approved a share repurchase program on Thursday, September 21st that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 74% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
A number of equities research analysts recently commented on the company. Zacks Investment Research upgraded Texas Instruments from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. Morgan Stanley reiterated an “equal weight” rating and issued a $83.00 price objective (up previously from $78.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $86.00 price objective (up previously from $84.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. Cowen and Company reissued a “market perform” rating and issued a $85.00 price objective (up previously from $82.00) on shares of Texas Instruments in a research note on Wednesday, July 26th. Finally, Barclays PLC boosted their price objective on Texas Instruments from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $86.56.
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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