Texas Instruments Incorporated (TXN) Stake Decreased by Private Advisor Group LLC
Private Advisor Group LLC decreased its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 18.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,629 shares of the semiconductor company’s stock after selling 4,580 shares during the period. Private Advisor Group LLC’s holdings in Texas Instruments were worth $1,886,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Texas Instruments by 2.1% during the second quarter. Vanguard Group Inc. now owns 81,330,150 shares of the semiconductor company’s stock valued at $6,256,728,000 after buying an additional 1,683,613 shares during the last quarter. BlackRock Inc. boosted its stake in Texas Instruments by 1.1% during the second quarter. BlackRock Inc. now owns 65,400,461 shares of the semiconductor company’s stock valued at $5,031,257,000 after buying an additional 681,821 shares during the last quarter. State Street Corp boosted its stake in Texas Instruments by 1.4% during the first quarter. State Street Corp now owns 40,943,910 shares of the semiconductor company’s stock valued at $3,298,445,000 after buying an additional 573,645 shares during the last quarter. Northern Trust Corp boosted its stake in Texas Instruments by 0.4% during the second quarter. Northern Trust Corp now owns 13,556,007 shares of the semiconductor company’s stock valued at $1,042,864,000 after buying an additional 53,846 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Texas Instruments by 729.1% during the second quarter. Janus Henderson Group PLC now owns 12,427,361 shares of the semiconductor company’s stock valued at $955,996,000 after buying an additional 10,928,410 shares during the last quarter. 83.97% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Bing Xie sold 17,500 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $96.53, for a total value of $1,689,275.00. Following the transaction, the senior vice president now owns 78,102 shares of the company’s stock, valued at $7,539,186.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Blinn sold 16,990 shares of the stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $96.44, for a total value of $1,638,515.60. Following the completion of the transaction, the director now directly owns 18,495 shares in the company, valued at approximately $1,783,657.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,362,293 shares of company stock worth $131,754,396. Company insiders own 0.96% of the company’s stock.
A number of equities analysts recently commented on TXN shares. Jefferies Group reissued a “buy” rating and set a $96.00 price target on shares of Texas Instruments in a research note on Monday, September 25th. BidaskClub lowered Texas Instruments from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 13th. Drexel Hamilton reissued a “buy” rating and set a $110.00 price target (up from $95.00) on shares of Texas Instruments in a research note on Wednesday, October 25th. Oppenheimer reissued a “buy” rating and set a $110.00 price target (up from $92.00) on shares of Texas Instruments in a research note on Wednesday, October 25th. Finally, Bank of America increased their price target on Texas Instruments from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. Texas Instruments presently has a consensus rating of “Buy” and an average price target of $93.85.
Shares of Texas Instruments Incorporated (TXN) opened at $97.78 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. Texas Instruments Incorporated has a fifty-two week low of $71.19 and a fifty-two week high of $99.79. The firm has a market capitalization of $95,620.00, a P/E ratio of 23.87, a PEG ratio of 2.32 and a beta of 1.27.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.14. Texas Instruments had a return on equity of 38.88% and a net margin of 29.98%. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same period in the prior year, the business posted $0.94 earnings per share. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. research analysts anticipate that Texas Instruments Incorporated will post 4.36 EPS for the current year.
Texas Instruments declared that its Board of Directors has initiated a stock repurchase program on Thursday, September 21st that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 74% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.54%. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, October 30th. Texas Instruments’s dividend payout ratio is presently 56.49%.
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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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