Texas Instruments Incorporated (TXN) Shares Sold by Lord Abbett & CO. LLC
Lord Abbett & CO. LLC lessened its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 424,100 shares of the semiconductor company’s stock after selling 4,800 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Texas Instruments were worth $32,626,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in the business. American Beacon Advisors Inc. bought a new position in shares of Texas Instruments during the 1st quarter worth $101,000. Patriot Financial Group Insurance Agency LLC grew its position in shares of Texas Instruments by 18.4% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock worth $101,000 after buying an additional 200 shares in the last quarter. MV Capital Management Inc. grew its position in shares of Texas Instruments by 7.6% during the 2nd quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock worth $102,000 after buying an additional 93 shares in the last quarter. ClariVest Asset Management LLC grew its position in shares of Texas Instruments by 8.4% during the 1st quarter. ClariVest Asset Management LLC now owns 1,296 shares of the semiconductor company’s stock worth $104,000 after buying an additional 100 shares in the last quarter. Finally, Balentine LLC grew its position in shares of Texas Instruments by 6.5% during the 1st quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock worth $106,000 after buying an additional 80 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors.
In related news, CEO Richard K. Templeton sold 190,000 shares of Texas Instruments stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $96.88, for a total value of $18,407,200.00. Following the completion of the transaction, the chief executive officer now directly owns 1,137,056 shares in the company, valued at $110,157,985.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard K. Templeton sold 450,000 shares of Texas Instruments stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $96.51, for a total value of $43,429,500.00. Following the completion of the transaction, the chairman now owns 1,137,056 shares of the company’s stock, valued at $109,737,274.56. The disclosure for this sale can be found here. Insiders sold 1,151,577 shares of company stock valued at $109,430,542 over the last quarter. Insiders own 0.96% of the company’s stock.
Shares of Texas Instruments Incorporated (TXN) opened at $97.98 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.89 and a quick ratio of 2.96. The firm has a market capitalization of $95,392.41, a P/E ratio of 23.84, a PEG ratio of 2.33 and a beta of 1.28.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.14. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.91 billion. Texas Instruments had a return on equity of 38.88% and a net margin of 29.98%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the firm earned $0.94 earnings per share. research analysts predict that Texas Instruments Incorporated will post 4.33 EPS for the current fiscal year.
Texas Instruments declared that its Board of Directors has approved a share buyback plan on Thursday, September 21st that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 74% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 31st will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.53%. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, October 30th. Texas Instruments’s dividend payout ratio (DPR) is 57.94%.
A number of equities analysts have recently issued reports on TXN shares. BMO Capital Markets reissued an “outperform” rating on shares of Texas Instruments in a research report on Tuesday, September 12th. BidaskClub raised Texas Instruments from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 2nd. Jefferies Group LLC reaffirmed a “buy” rating on shares of Texas Instruments in a research report on Monday, July 10th. Barclays PLC dropped their price objective on Texas Instruments from $78.00 to $83.00 in a research report on Wednesday, July 26th. Finally, Citigroup Inc raised their price objective on Texas Instruments from $87.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Texas Instruments has an average rating of “Buy” and an average target price of $93.85.
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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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