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.

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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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