Twin Capital Management Inc. Purchases 14,972 Shares of Texas Instruments Incorporated (TXN)
Twin Capital Management Inc. raised its position in Texas Instruments Incorporated (NASDAQ:TXN) by 18.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,024 shares of the semiconductor company’s stock after acquiring an additional 14,972 shares during the quarter. Twin Capital Management Inc.’s holdings in Texas Instruments were worth $7,464,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the business. Waldron LP purchased a new position in shares of Texas Instruments during the 1st quarter valued at approximately $423,000. State Treasurer State of Michigan boosted its stake in shares of Texas Instruments by 0.3% during the 1st quarter. State Treasurer State of Michigan now owns 489,618 shares of the semiconductor company’s stock valued at $39,444,000 after buying an additional 1,500 shares during the last quarter. Grimes & Company Inc. boosted its stake in shares of Texas Instruments by 2.9% during the 1st quarter. Grimes & Company Inc. now owns 6,594 shares of the semiconductor company’s stock valued at $531,000 after buying an additional 188 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Texas Instruments by 1.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,875,764 shares of the semiconductor company’s stock valued at $231,672,000 after buying an additional 35,742 shares during the last quarter. Finally, Alpha Cubed Investments LLC purchased a new position in shares of Texas Instruments during the 1st quarter valued at approximately $200,000. 83.68% of the stock is owned by institutional investors.
Several equities analysts have recently commented on the company. BidaskClub upgraded Texas Instruments from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. BMO Capital Markets restated an “outperform” rating on shares of Texas Instruments in a research note on Tuesday, September 12th. Robert W. Baird restated a “hold” rating and set a $85.00 price objective on shares of Texas Instruments in a research note on Thursday, August 24th. B. Riley restated a “neutral” rating and set a $89.00 price objective on shares of Texas Instruments in a research note on Monday, July 31st. Finally, Zacks Investment Research upgraded Texas Instruments from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Texas Instruments presently has an average rating of “Buy” and a consensus price target of $86.18.
Shares of Texas Instruments Incorporated (NASDAQ:TXN) opened at 88.27 on Friday. The firm has a market capitalization of $87.39 billion, a price-to-earnings ratio of 22.08 and a beta of 1.20. The stock’s 50 day moving average price is $82.00 and its 200 day moving average price is $80.72. Texas Instruments Incorporated has a one year low of $66.80 and a one year high of $88.45.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings data on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.07. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Texas Instruments had a return on equity of 36.52% and a net margin of 28.68%. Texas Instruments’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 earnings per share. Analysts expect that Texas Instruments Incorporated will post $4.13 EPS for the current fiscal year.
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 repurchase up to 74% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.62 per share. This is a boost from Texas Instruments’s previous quarterly dividend of $0.50. This represents a $2.48 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Monday, October 30th. Texas Instruments’s dividend payout ratio is currently 50.51%.
In other news, insider Kevin J. Ritchie sold 105,396 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $81.91, for a total value of $8,632,986.36. Following the completion of the sale, the insider now directly owns 252,257 shares of the company’s stock, valued at $20,662,370.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carrie Smith Cox sold 14,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 38,435 shares of the company’s stock, valued at $3,161,278.75. The disclosure for this sale can be found here. Insiders have sold 211,301 shares of company stock valued at $17,259,256 over the last ninety days. 0.96% of the stock is owned by insiders.
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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