Stevens Capital Management LP purchased a new stake in Texas Instruments Incorporated (NASDAQ:TXN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 40,597 shares of the semiconductor company’s stock, valued at approximately $3,123,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Investment Centers of America Inc. raised its position in shares of Texas Instruments by 30.0% in the second quarter. Investment Centers of America Inc. now owns 3,998 shares of the semiconductor company’s stock valued at $308,000 after purchasing an additional 923 shares during the period. BT Investment Management Ltd bought a new stake in shares of Texas Instruments in the second quarter valued at approximately $13,268,000. BlueMountain Capital Management LLC raised its position in shares of Texas Instruments by 248.6% in the second quarter. BlueMountain Capital Management LLC now owns 48,099 shares of the semiconductor company’s stock valued at $3,700,000 after purchasing an additional 34,300 shares during the period. Amalgamated Bank raised its position in shares of Texas Instruments by 54.8% in the second quarter. Amalgamated Bank now owns 117,831 shares of the semiconductor company’s stock valued at $9,065,000 after purchasing an additional 41,726 shares during the period. Finally, BlackRock Inc. raised its position 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 valued at $5,031,257,000 after purchasing an additional 681,821 shares during the period. 83.68% of the stock is currently owned by institutional investors.

In related news, 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 completion of the sale, the insider now directly owns 45,697 shares in the company, valued at $3,741,213.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carrie Smith Cox sold 14,000 shares of Texas Instruments stock in a transaction dated 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 completion of the sale, the director now owns 38,435 shares of the company’s stock, valued at $3,161,278.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 211,301 shares of company stock valued at $17,259,256. Corporate insiders own 0.96% of the company’s stock.

Shares of Texas Instruments Incorporated (NASDAQ TXN) opened at 93.59 on Friday. Texas Instruments Incorporated has a 12-month low of $66.80 and a 12-month high of $93.73. The company’s 50-day moving average is $86.45 and its 200-day moving average is $81.93. The company has a market capitalization of $92.66 billion, a price-to-earnings ratio of 23.41 and a beta of 1.24.

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 the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.57 billion. During the same period last year, the company earned $0.76 earnings per share. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. Analysts predict that Texas Instruments Incorporated will post $4.13 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Stockholders 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 dividend yield of 2.65%. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, October 30th. Texas Instruments’s dividend payout ratio (DPR) is 50.51%.

Texas Instruments announced that its board has authorized a stock repurchase plan on Thursday, September 21st that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 74% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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Several brokerages recently commented on TXN. Barclays PLC reduced their price objective on shares of Texas Instruments from $78.00 to $83.00 in a research note on Wednesday, July 26th. UBS AG reaffirmed a “buy” rating and set a $93.00 price objective (up previously from $91.00) on shares of Texas Instruments 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. Citigroup Inc. boosted their price objective on shares of Texas Instruments from $87.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. Finally, Drexel Hamilton boosted their price objective on shares of Texas Instruments from $93.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $86.51.

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

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