Northern Trust Corp Acquires 53,846 Shares of Texas Instruments Incorporated (TXN)
Northern Trust Corp grew its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 0.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 13,556,007 shares of the semiconductor company’s stock after purchasing an additional 53,846 shares during the period. Northern Trust Corp owned approximately 1.37% of Texas Instruments worth $1,042,864,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Texas Instruments by 4.7% during 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 purchasing an additional 3,551,400 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Texas Instruments by 1.1% during the second quarter. BlackRock Inc. now owns 65,400,461 shares of the semiconductor company’s stock valued at $5,031,257,000 after purchasing an additional 681,821 shares during the last quarter. State Street Corp lifted its holdings in shares of Texas Instruments by 1.4% during the first quarter. State Street Corp now owns 40,943,910 shares of the semiconductor company’s stock valued at $3,298,445,000 after purchasing an additional 573,645 shares during the last quarter. FMR LLC lifted its holdings in shares of Texas Instruments by 12.3% during the first quarter. FMR LLC now owns 12,172,327 shares of the semiconductor company’s stock valued at $980,603,000 after purchasing an additional 1,328,606 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Texas Instruments by 9.6% during the first quarter. Geode Capital Management LLC now owns 11,181,980 shares of the semiconductor company’s stock valued at $899,705,000 after purchasing an additional 975,010 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.
In related news, COO Brian T. Crutcher sold 50,000 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $81.09, for a total transaction of $4,054,500.00. Following the sale, the chief operating officer now owns 201,440 shares in the company, valued at $16,334,769.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert E. Sanchez sold 26,905 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $81.48, for a total transaction of $2,192,219.40. Following the sale, the director now owns 27,565 shares in the company, valued at approximately $2,245,996.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 211,301 shares of company stock worth $17,259,256. 0.96% of the stock is owned by company insiders.
Shares of Texas Instruments Incorporated (NASDAQ TXN) opened at 94.23 on Tuesday. Texas Instruments Incorporated has a 12 month low of $66.80 and a 12 month high of $94.41. The company has a market cap of $93.29 billion, a P/E ratio of 23.57 and a beta of 1.24. The stock’s 50 day moving average is $86.61 and its 200-day moving average is $81.95.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.07. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.57 billion. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the business earned $0.76 earnings per share. On average, equities analysts forecast that Texas Instruments Incorporated will post $4.13 EPS for the current year.
The company also recently declared 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. This represents a $2.48 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Monday, October 30th. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.50. Texas Instruments’s dividend payout ratio (DPR) is currently 50.51%.
Texas Instruments announced that its board has approved a stock buyback plan on Thursday, September 21st that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to buy up to 74% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
TXN has been the subject of several recent research reports. BidaskClub upgraded shares of Texas Instruments from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 2nd. Royal Bank Of Canada lifted their target price on shares of Texas Instruments from $95.00 to $96.00 and gave the company an “outperform” rating in a report on Wednesday, July 26th. Zacks Investment Research upgraded shares of Texas Instruments from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a report on Thursday, July 27th. Stifel Nicolaus reiterated a “hold” rating and set a $85.00 target price on shares of Texas Instruments in a report on Wednesday, October 4th. Finally, SunTrust Banks, Inc. reiterated a “hold” rating and set a $86.00 target price on shares of Texas Instruments in a report on Thursday, October 12th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Texas Instruments currently has an average rating of “Buy” and a consensus target price of $86.51.
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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