Janney Montgomery Scott LLC Raises Stake in Texas Instruments Incorporated (TXN)
Janney Montgomery Scott LLC increased its position in Texas Instruments Incorporated (NASDAQ:TXN) by 5.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 102,419 shares of the semiconductor company’s stock after buying an additional 5,602 shares during the period. Janney Montgomery Scott LLC’s holdings in Texas Instruments were worth $7,879,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. American Beacon Advisors Inc. acquired a new stake in shares of Texas Instruments during the first quarter worth about $101,000. ClariVest Asset Management LLC boosted its stake in shares of Texas Instruments by 8.4% in the first quarter. ClariVest Asset Management LLC now owns 1,296 shares of the semiconductor company’s stock worth $104,000 after buying an additional 100 shares during the last quarter. Balentine LLC boosted its stake 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 buying an additional 80 shares during the last quarter. TCI Wealth Advisors Inc. boosted its stake in shares of Texas Instruments by 33.2% in the first quarter. TCI Wealth Advisors Inc. now owns 1,335 shares of the semiconductor company’s stock worth $108,000 after buying an additional 333 shares during the last quarter. Finally, American National Bank boosted its stake in shares of Texas Instruments by 2,470.9% in the second quarter. American National Bank now owns 1,414 shares of the semiconductor company’s stock worth $109,000 after buying an additional 1,359 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors.
Texas Instruments Incorporated (NASDAQ:TXN) opened at 82.31 on Thursday. Texas Instruments Incorporated has a 52 week low of $66.30 and a 52 week high of $84.65. The firm’s 50 day moving average is $81.16 and its 200-day moving average is $79.94. The company has a market cap of $81.49 billion, a P/E ratio of 20.59 and a beta of 1.21.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.07. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. On average, analysts predict that Texas Instruments Incorporated will post $4.13 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were paid a $0.50 dividend. The ex-dividend date was Thursday, July 27th. This represents a $2.00 dividend on an annualized basis and a yield of 2.43%. Texas Instruments’s dividend payout ratio is currently 50.51%.
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Several research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Texas Instruments from a “hold” rating to a “sell” rating in a report on Wednesday, June 28th. Royal Bank Of Canada upped their price target on shares of Texas Instruments from $95.00 to $96.00 and gave the stock an “outperform” rating in a report on Wednesday, July 26th. Barclays PLC upped their price target on shares of Texas Instruments from $77.00 to $83.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 18th. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $86.00 price target (up previously from $84.00) on shares of Texas Instruments in a report on Wednesday, July 26th. Finally, Raymond James Financial, Inc. reaffirmed a “mkt perform” rating on shares of Texas Instruments in a report on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $85.96.
In other Texas Instruments news, Director Carrie Smith Cox sold 14,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 38,435 shares of the company’s stock, valued at $3,161,278.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kevin J. Ritchie sold 105,396 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $81.91, for a total transaction of $8,632,986.36. Following the sale, the insider now directly owns 252,257 shares in the company, valued at approximately $20,662,370.87. The disclosure for this sale can be found here. Insiders sold 211,301 shares of company stock valued at $17,259,256 in the last quarter. 0.96% of the stock is owned by 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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