Texas Instruments Incorporated (TXN) Shares Bought by Riverhead Capital Management LLC
Riverhead Capital Management LLC lifted its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 61.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,957 shares of the semiconductor company’s stock after acquiring an additional 26,186 shares during the period. Riverhead Capital Management LLC’s holdings in Texas Instruments were worth $7,398,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of TXN. Centaurus Financial Inc. acquired a new stake in Texas Instruments during the second quarter valued at approximately $101,000. Baker Ellis Asset Management LLC acquired a new stake in Texas Instruments during the second quarter valued at approximately $105,000. Kwmg LLC acquired a new stake in Texas Instruments during the second quarter valued at approximately $107,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in Texas Instruments during the third quarter valued at approximately $107,000. Finally, Fort L.P. acquired a new stake in Texas Instruments during the second quarter valued at approximately $118,000. 84.70% of the stock is owned by institutional investors.
Texas Instruments stock opened at $96.11 on Wednesday. The company has a market capitalization of $95.91 billion, a price-to-earnings ratio of 22.46, a P/E/G ratio of 1.97 and a beta of 1.29. The company has a current ratio of 3.97, a quick ratio of 3.09 and a debt-to-equity ratio of 0.41. Texas Instruments Incorporated has a twelve month low of $87.90 and a twelve month high of $120.75.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 19th. Shareholders of record on Wednesday, October 31st were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.20%. The ex-dividend date was Tuesday, October 30th. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.62. Texas Instruments’s dividend payout ratio is currently 71.96%.
Texas Instruments announced that its board has approved a stock buyback program on Thursday, September 20th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the semiconductor company to purchase up to 11.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
Several analysts recently commented on TXN shares. Sanford C. Bernstein reissued a “buy” rating and set a $115.00 target price on shares of Texas Instruments in a research note on Wednesday, October 24th. Citigroup reissued a “buy” rating on shares of Texas Instruments in a research note on Wednesday, October 24th. Loop Capital cut their target price on shares of Texas Instruments to $120.00 and set a “buy” rating for the company in a research note on Wednesday, October 24th. Barclays cut their target price on shares of Texas Instruments from $120.00 to $105.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 23rd. Finally, BidaskClub upgraded shares of Texas Instruments from a “sell” rating to a “hold” rating in a report on Friday, August 10th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $117.11.
In other Texas Instruments news, insider Kyle M. Flessner sold 16,088 shares of the company’s stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $94.00, for a total value of $1,512,272.00. Following the transaction, the insider now owns 43,270 shares in the company, valued at approximately $4,067,380. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Martin S. Craighead acquired 10,900 shares of the company’s stock in a transaction on Thursday, October 25th. The stock was bought at an average price of $91.70 per share, for a total transaction of $999,530.00. Following the purchase, the director now owns 13,100 shares in the company, valued at approximately $1,201,270. The disclosure for this purchase can be found here. 0.84% of the stock is currently owned by corporate insiders.
Texas Instruments Company Profile
Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. It operates in two segments, Analog and Embedded Processing. The Analog segment offers power products to manage power requirements in various levels using battery management solutions, portable components, power supply controls, point-of-load products, switches and interfaces, integrated protection devices, high-voltage products, and mobile lighting and display products.
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