Mark Sheptoff Financial Planning LLC Lowers Holdings in Texas Instruments Incorporated (TXN)
Mark Sheptoff Financial Planning LLC decreased its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 0.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,183 shares of the semiconductor company’s stock after selling 1 shares during the period. Mark Sheptoff Financial Planning LLC’s holdings in Texas Instruments were worth $245,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. American Beacon Advisors Inc. purchased a new position in Texas Instruments during the 1st quarter valued at about $101,000. Patriot Financial Group Insurance Agency LLC boosted its position in Texas Instruments by 18.4% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock valued at $101,000 after acquiring an additional 200 shares in the last quarter. ClariVest Asset Management LLC boosted its position in Texas Instruments by 8.4% during the 1st quarter. ClariVest Asset Management LLC now owns 1,296 shares of the semiconductor company’s stock valued at $104,000 after acquiring an additional 100 shares in the last quarter. Balentine LLC boosted its position in Texas Instruments by 6.5% during the 1st quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock valued at $106,000 after acquiring an additional 80 shares in the last quarter. Finally, MV Capital Management Inc. boosted its position in Texas Instruments by 7.6% during the 2nd quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock valued at $102,000 after acquiring an additional 93 shares in the last quarter. Institutional investors and hedge funds own 83.68% of the company’s stock.
Texas Instruments Incorporated (TXN) opened at 89.64 on Friday. Texas Instruments Incorporated has a 1-year low of $66.80 and a 1-year high of $89.89. The company has a market capitalization of $88.75 billion, a P/E ratio of 22.42 and a beta of 1.20. The stock’s 50 day moving average is $82.00 and its 200-day moving average is $80.72.
Texas Instruments (NASDAQ:TXN) last announced its earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.07. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the prior year, the firm earned $0.76 EPS. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, analysts expect that Texas Instruments Incorporated will post $4.13 earnings per share for the current fiscal year.
Texas Instruments declared that its Board of Directors has initiated a stock repurchase plan on Thursday, September 21st that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 74% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st will be given a $0.62 dividend. The ex-dividend date 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 dividend yield of 2.77%. Texas Instruments’s dividend payout ratio is currently 50.51%.
Several analysts have weighed in on the company. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Texas Instruments in a research report on Tuesday, September 26th. Jefferies Group LLC reissued a “buy” rating and issued a $96.00 price target on shares of Texas Instruments in a research report on Monday, September 25th. BidaskClub raised Texas Instruments from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 20th. BMO Capital Markets reissued an “outperform” rating on shares of Texas Instruments in a research report on Tuesday, September 12th. Finally, Robert W. Baird reissued a “hold” rating and issued a $85.00 price target on shares of Texas Instruments in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $86.56.
In other Texas Instruments news, Director Carrie Smith Cox sold 14,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $82.25, for a total value of $1,151,500.00. Following the sale, the director now directly owns 38,435 shares of the company’s stock, valued at approximately $3,161,278.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ellen Barker sold 15,000 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $81.87, for a total transaction of $1,228,050.00. Following the completion of 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 sold 211,301 shares of company stock worth $17,259,256. Insiders own 0.96% of the company’s stock.
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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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