Texas Instruments Incorporated (TXN) Shares Sold by Intact Investment Management Inc.
Intact Investment Management Inc. reduced its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 36.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,400 shares of the semiconductor company’s stock after selling 29,100 shares during the period. Intact Investment Management Inc.’s holdings in Texas Instruments were worth $3,876,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. American Beacon Advisors Inc. purchased a new stake in shares of Texas Instruments during the first quarter valued at $101,000. Patriot Financial Group Insurance Agency LLC increased its position in shares of Texas Instruments by 18.4% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock valued at $101,000 after acquiring an additional 200 shares during the period. ClariVest Asset Management LLC increased its position in shares of Texas Instruments by 8.4% in the 1st quarter. ClariVest Asset Management LLC now owns 1,296 shares of the semiconductor company’s stock valued at $104,000 after acquiring an additional 100 shares during the period. Balentine LLC raised its stake in Texas Instruments by 6.5% in the 1st quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock worth $106,000 after acquiring an additional 80 shares during the last quarter. Finally, MV Capital Management Inc. raised its stake in Texas Instruments by 7.6% in the 2nd quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock worth $102,000 after acquiring an additional 93 shares during the last quarter. Institutional investors and hedge funds own 83.68% of the company’s stock.
In related news, Director Carrie Smith Cox sold 14,000 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $3,161,278.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Brian T. Crutcher sold 50,000 shares of the company’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 completion of the sale, the chief operating officer now owns 201,440 shares of the company’s stock, valued at approximately $16,334,769.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 211,301 shares of company stock worth $17,259,256. Corporate insiders own 0.96% of the company’s stock.
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A number of analysts have commented on the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of Texas Instruments in a research report on Tuesday, September 12th. Zacks Investment Research downgraded Texas Instruments from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. Jefferies Group LLC reissued a “buy” rating on shares of Texas Instruments in a report on Monday, July 10th. BidaskClub raised Texas Instruments from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 2nd. Finally, Barclays PLC reduced their price objective on Texas Instruments from $78.00 to $83.00 in a research note on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $86.56.
Shares of Texas Instruments Incorporated (TXN) opened at 89.65 on Tuesday. Texas Instruments Incorporated has a 12-month low of $66.80 and a 12-month high of $90.24. The stock’s 50 day moving average is $83.69 and its 200-day moving average is $81.23. The stock has a market cap of $88.76 billion, a price-to-earnings ratio of 22.42 and a beta of 1.24.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.07. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. The firm had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the previous year, the company earned $0.76 earnings per share. Texas Instruments’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities analysts anticipate that Texas Instruments Incorporated will post $4.13 EPS for the current fiscal year.
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 issued a dividend of $0.62 per share. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, October 30th. This represents a $2.48 annualized dividend and a dividend yield of 2.77%. Texas Instruments’s dividend payout ratio (DPR) is presently 50.51%.
Texas Instruments declared that its board has approved a share repurchase plan on Thursday, September 21st that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 74% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
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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