Los Angeles Capital Management & Equity Research Inc. Has $55.24 Million Stake in Texas Instruments Incorporated (TXN)
Los Angeles Capital Management & Equity Research Inc. raised its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 67.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 718,003 shares of the semiconductor company’s stock after acquiring an additional 289,244 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.07% of Texas Instruments worth $55,236,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Beacon Advisors Inc. acquired a new position in Texas Instruments in the first quarter valued at $101,000. Patriot Financial Group Insurance Agency LLC increased its stake in 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 valued at $101,000 after purchasing an additional 200 shares during the last quarter. MV Capital Management Inc. increased its stake in Texas Instruments by 7.6% in the second quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock valued at $102,000 after purchasing an additional 93 shares during the last quarter. ClariVest Asset Management LLC increased its stake 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 purchasing an additional 100 shares during the last quarter. Finally, Balentine LLC increased its stake 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 purchasing an additional 80 shares during the last quarter. 83.68% of the stock is owned by institutional investors.
Several research firms recently commented on TXN. Stifel Nicolaus reiterated a “hold” rating and issued a $85.00 target price on shares of Texas Instruments in a research note on Wednesday. Jefferies Group LLC reiterated a “buy” rating and issued a $96.00 target price on shares of Texas Instruments in a research note on Monday, September 25th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $95.00 target price on shares of Texas Instruments in a research note on Tuesday, September 26th. BidaskClub upgraded Texas Instruments from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 20th. Finally, Zacks Investment Research upgraded Texas Instruments from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $86.51.
Shares of Texas Instruments Incorporated (NASDAQ TXN) opened at 90.49 on Thursday. The firm’s 50-day moving average price is $84.16 and its 200 day moving average price is $81.35. The firm has a market cap of $89.59 billion, a PE ratio of 22.63 and a beta of 1.24. Texas Instruments Incorporated has a 52 week low of $66.80 and a 52 week high of $90.56.
Texas Instruments (NASDAQ:TXN) last released its earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.07. Texas Instruments had a return on equity of 36.52% and a net margin of 28.68%. The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period last year, the business earned $0.76 earnings per share. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. Equities analysts anticipate that Texas Instruments Incorporated will post $4.13 EPS for the current year.
Texas Instruments announced that its board has authorized a share repurchase program on Thursday, September 21st that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 74% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 31st will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, October 30th. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50. This represents a $2.48 dividend on an annualized basis and a yield of 2.74%. Texas Instruments’s dividend payout ratio (DPR) is 50.51%.
In related news, insider Kevin J. Ritchie sold 105,396 shares of Texas Instruments stock in a transaction dated 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 of the company’s stock, valued at $20,662,370.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Ellen Barker sold 15,000 shares of Texas Instruments stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $81.87, for a total value of $1,228,050.00. Following the sale, the insider now directly owns 45,697 shares in the company, valued at $3,741,213.39. The disclosure for this sale can be found here. Over the last three months, insiders have sold 211,301 shares of company stock worth $17,259,256. 0.96% of the stock is owned by company insiders.
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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