Rafferty Asset Management LLC raised its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 46.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 188,005 shares of the semiconductor company’s stock after purchasing an additional 59,695 shares during the period. Rafferty Asset Management LLC’s holdings in Texas Instruments were worth $14,463,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Texas Instruments by 4.7% in the first quarter. Vanguard Group Inc. now owns 79,646,537 shares of the semiconductor company’s stock worth $6,416,325,000 after buying an additional 3,551,400 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Texas Instruments by 1.1% in the second quarter. BlackRock Inc. now owns 65,400,461 shares of the semiconductor company’s stock worth $5,031,257,000 after buying an additional 681,821 shares in the last quarter. State Street Corp lifted its stake in shares of Texas Instruments by 1.4% in the first quarter. State Street Corp now owns 40,943,910 shares of the semiconductor company’s stock worth $3,298,445,000 after buying an additional 573,645 shares in the last quarter. FMR LLC lifted its stake in shares of Texas Instruments by 12.3% in the first quarter. FMR LLC now owns 12,172,327 shares of the semiconductor company’s stock worth $980,603,000 after buying an additional 1,328,606 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Texas Instruments by 9.6% in the first quarter. Geode Capital Management LLC now owns 11,181,980 shares of the semiconductor company’s stock worth $899,705,000 after buying an additional 975,010 shares in the last quarter. 83.68% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have commented on TXN. Barclays PLC reduced their target price on shares of Texas Instruments from $78.00 to $83.00 in a research note on Wednesday, July 26th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Texas Instruments in a research note on Monday, July 10th. UBS AG reaffirmed a “buy” rating and set a $93.00 target price (up from $91.00) on shares of Texas Instruments in a research note on Wednesday, July 26th. Citigroup Inc. lifted their target price on shares of Texas Instruments from $87.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Finally, Drexel Hamilton lifted their target price on shares of Texas Instruments from $93.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. 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 issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $86.51.

In other news, COO Brian T. Crutcher sold 50,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 201,440 shares of the company’s stock, valued at $16,334,769.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carrie Smith Cox sold 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $82.25, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 211,301 shares of company stock valued at $17,259,256 in the last ninety days. 0.96% of the stock is owned by corporate insiders.

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Texas Instruments Incorporated (NASDAQ TXN) opened at 93.59 on Friday. Texas Instruments Incorporated has a 52 week low of $66.80 and a 52 week high of $93.73. The company has a 50-day moving average of $86.61 and a 200-day moving average of $81.94. The stock has a market cap of $92.66 billion, a P/E ratio of 23.41 and a beta of 1.24.

Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings data on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter last year, the company earned $0.76 earnings per share. Texas Instruments’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, analysts predict that Texas Instruments Incorporated will post $4.13 EPS for the current fiscal year.

Texas Instruments announced that its board has authorized a share repurchase program on Thursday, September 21st that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor company to buy up to 74% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are 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. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, October 30th. This represents a $2.48 annualized dividend and a yield of 2.65%. Texas Instruments’s dividend payout ratio (DPR) is 50.51%.

Texas Instruments Company 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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Institutional Ownership by Quarter for Texas Instruments (NASDAQ:TXN)

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