Investors Buy Texas Instruments (TXN) on Weakness
Traders bought shares of Texas Instruments Incorporated (NASDAQ:TXN) on weakness during trading hours on Wednesday. $159.17 million flowed into the stock on the tick-up and $83.36 million flowed out of the stock on the tick-down, for a money net flow of $75.81 million into the stock. Of all companies tracked, Texas Instruments had the 7th highest net in-flow for the day. Texas Instruments traded down ($1.33) for the day and closed at $106.22
Several research firms recently commented on TXN. Royal Bank of Canada raised their target price on Texas Instruments from $125.00 to $127.00 and gave the stock a “$115.68” rating in a report on Wednesday, July 18th. BidaskClub lowered Texas Instruments from a “strong-buy” rating to a “buy” rating in a report on Friday, June 8th. Zacks Investment Research raised Texas Instruments from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a report on Thursday, July 19th. Jefferies Financial Group reaffirmed a “buy” rating and set a $157.00 target price on shares of Texas Instruments in a report on Wednesday, July 25th. Finally, Mizuho reaffirmed a “hold” rating on shares of Texas Instruments in a report on Tuesday, July 24th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $121.64.
The stock has a market capitalization of $106.75 billion, a PE ratio of 25.10, a P/E/G ratio of 2.10 and a beta of 1.18. The company has a debt-to-equity ratio of 0.48, a current ratio of 6.54 and a quick ratio of 5.12.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Wednesday, October 31st will be given a dividend of $0.77 per share. The ex-dividend date is Tuesday, October 30th. This represents a $3.08 dividend on an annualized basis and a yield of 2.90%. This is an increase from Texas Instruments’s previous quarterly dividend of $0.62. Texas Instruments’s dividend payout ratio is currently 57.94%.
Texas Instruments declared that its Board of Directors has initiated a share repurchase program on Thursday, September 20th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 11.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
In other news, insider Stephen A. Anderson sold 25,318 shares of the firm’s stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $111.55, for a total value of $2,824,222.90. Following the transaction, the insider now owns 131,153 shares in the company, valued at $14,630,117.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.84% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TXN. Evergreen Capital Management LLC purchased a new position in shares of Texas Instruments in the first quarter valued at approximately $723,000. Fisher Asset Management LLC lifted its position in shares of Texas Instruments by 31.1% in the first quarter. Fisher Asset Management LLC now owns 416,526 shares of the semiconductor company’s stock valued at $43,273,000 after acquiring an additional 98,728 shares in the last quarter. Suncoast Equity Management purchased a new position in shares of Texas Instruments in the first quarter valued at approximately $354,000. IFM Investors Pty Ltd increased its holdings in shares of Texas Instruments by 10.4% in the first quarter. IFM Investors Pty Ltd now owns 30,694 shares of the semiconductor company’s stock valued at $3,189,000 after purchasing an additional 2,887 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its holdings in shares of Texas Instruments by 23.1% in the first quarter. Pinnacle Associates Ltd. now owns 35,355 shares of the semiconductor company’s stock valued at $3,673,000 after purchasing an additional 6,626 shares during the last quarter. Institutional investors and hedge funds own 83.97% of the company’s stock.
Texas Instruments Company Profile (NASDAQ:TXN)
Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. It operates in two segments, Analog and Embedded Processing. The Analog segment offers power products to manage power requirements in various levels using battery management solutions, portable components, power supply controls, point-of-load products, switches and interfaces, integrated protection devices, high-voltage products, and mobile lighting and display products.
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