Texas Instruments Incorporated (TXN) Short Interest Update
Texas Instruments Incorporated (NASDAQ:TXN) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 9,720,513 shares, a drop of 17.0% from the October 13th total of 11,715,624 shares. Based on an average daily volume of 5,133,812 shares, the days-to-cover ratio is presently 1.9 days. Approximately 1.0% of the company’s shares are short sold.
Shares of Texas Instruments (TXN) opened at $96.94 on Friday. The company has a quick ratio of 2.96, a current ratio of 3.89 and a debt-to-equity ratio of 0.28. The stock has a market cap of $95,648.66, a PE ratio of 23.90, a price-to-earnings-growth ratio of 2.34 and a beta of 1.28. Texas Instruments has a twelve month low of $69.00 and a twelve month high of $99.05.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings data on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.14. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.91 billion. Texas Instruments had a net margin of 29.98% and a return on equity of 38.88%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 EPS. equities research analysts expect that Texas Instruments will post 4.33 earnings per share for the current fiscal year.
The firm 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 $0.62 dividend. The ex-dividend date is Monday, October 30th. This represents a $2.48 dividend on an annualized basis and a yield of 2.56%. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50. Texas Instruments’s payout ratio is currently 57.94%.
Texas Instruments announced that its board has initiated a share buyback plan on Thursday, September 21st that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 74% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
A number of brokerages recently commented on TXN. Mizuho restated a “hold” rating on shares of Texas Instruments in a report on Wednesday, October 25th. BMO Capital Markets restated a “buy” rating and set a $105.00 price objective on shares of Texas Instruments in a report on Wednesday, October 25th. Deutsche Bank AG raised their price objective on shares of Texas Instruments from $80.00 to $92.00 and gave the stock a “hold” rating in a report on Wednesday, October 25th. Bank of America Corporation raised their price objective on shares of Texas Instruments from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Finally, Nomura raised their price objective on shares of Texas Instruments from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. Texas Instruments has a consensus rating of “Buy” and a consensus price target of $93.85.
In related news, Chairman Richard K. Templeton sold 450,000 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $96.51, for a total transaction of $43,429,500.00. Following the sale, the chairman now directly owns 1,137,056 shares in the company, valued at $109,737,274.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ellen Barker sold 15,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $81.87, for a total transaction of $1,228,050.00. Following the sale, the insider now owns 45,697 shares in the company, valued at $3,741,213.39. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,482,689 shares of company stock worth $141,615,432. Insiders own 0.96% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. BerganKDV Wealth Management LLC boosted its holdings in Texas Instruments by 53.3% in the 3rd quarter. BerganKDV Wealth Management LLC now owns 12,034 shares of the semiconductor company’s stock valued at $1,079,000 after purchasing an additional 4,182 shares during the period. Ingalls & Snyder LLC boosted its holdings in Texas Instruments by 9.6% in the 3rd quarter. Ingalls & Snyder LLC now owns 12,600 shares of the semiconductor company’s stock valued at $1,129,000 after purchasing an additional 1,100 shares during the period. PGGM Investments increased its position in Texas Instruments by 102.8% during the 3rd quarter. PGGM Investments now owns 956,619 shares of the semiconductor company’s stock worth $85,751,000 after purchasing an additional 484,906 shares in the last quarter. Sather Financial Group Inc acquired a new position in Texas Instruments during the 2nd quarter worth approximately $600,000. Finally, Legal & General Group Plc increased its position in Texas Instruments by 1.5% during the 2nd quarter. Legal & General Group Plc now owns 5,089,028 shares of the semiconductor company’s stock worth $391,499,000 after purchasing an additional 73,740 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.
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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