Texas Instruments Incorporated (TXN) Position Reduced by Seaward Management Limited Partnership
Seaward Management Limited Partnership reduced its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 17.9% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 6,180 shares of the semiconductor company’s stock after selling 1,350 shares during the period. Seaward Management Limited Partnership’s holdings in Texas Instruments were worth $497,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in 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 during the period. BlackRock Inc. boosted its position in Texas Instruments by 1,924.6% in the first quarter. BlackRock Inc. now owns 64,718,640 shares of the semiconductor company’s stock worth $5,213,733,000 after buying an additional 61,521,990 shares during the period. State Street Corp boosted its position in 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 during the period. FMR LLC boosted its position in 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 during the period. Finally, Geode Capital Management LLC boosted its position in 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 during the period. Hedge funds and other institutional investors own 84.71% of the company’s stock.
Texas Instruments Incorporated (TXN) traded up 0.26% during midday trading on Friday, hitting $80.36. 1,403,293 shares of the stock were exchanged. Texas Instruments Incorporated has a 52 week low of $66.30 and a 52 week high of $84.65. The firm’s 50-day moving average is $80.63 and its 200 day moving average is $79.76. The stock has a market cap of $79.56 billion, a price-to-earnings ratio of 20.10 and a beta of 1.21.
Texas Instruments (NASDAQ:TXN) last issued its quarterly 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. The company had revenue of $3.69 billion during 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 business’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.76 EPS. Equities research analysts expect that Texas Instruments Incorporated will post $4.13 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Thursday, July 27th. Texas Instruments’s dividend payout ratio is currently 50.51%.
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A number of research analysts have commented on TXN shares. Zacks Investment Research upgraded Texas Instruments from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Morgan Stanley restated an “equal weight” rating and set a $83.00 price target (up from $78.00) on shares of Texas Instruments in a research note on Wednesday, July 26th. SunTrust Banks, Inc. restated a “hold” rating and set a $86.00 price target (up from $84.00) on shares of Texas Instruments in a research note on Wednesday, July 26th. Cowen and Company upped their price objective on Texas Instruments from $77.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 26th. Finally, Barclays PLC upped their price objective on Texas Instruments from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $85.96.
In other news, COO Brian T. Crutcher sold 50,000 shares of the company’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 value of $4,054,500.00. Following the completion of the sale, the chief operating officer now directly owns 201,440 shares of the company’s stock, valued at approximately $16,334,769.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kevin J. Ritchie sold 105,396 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 252,257 shares of the company’s stock, valued at $20,662,370.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 211,301 shares of company stock valued at $17,259,256. Company insiders own 0.96% of the company’s stock.
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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