Westwood Holdings Group Inc. Sells 569,404 Shares of Texas Instruments Incorporated (NASDAQ:TXN)
Westwood Holdings Group Inc. reduced its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 42.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 773,128 shares of the semiconductor company’s stock after selling 569,404 shares during the period. Westwood Holdings Group Inc.’s holdings in Texas Instruments were worth $62,284,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. Fiduciary Trust Co. raised its stake in shares of Texas Instruments by 2.5% in the first quarter. Fiduciary Trust Co. now owns 14,092 shares of the semiconductor company’s stock worth $1,135,000 after buying an additional 340 shares in the last quarter. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Texas Instruments during the first quarter worth approximately $7,718,000. Edgestream Partners L.P. purchased a new stake in shares of Texas Instruments during the first quarter worth approximately $260,000. National Asset Management Inc. raised its stake in shares of Texas Instruments by 2.6% in the first quarter. National Asset Management Inc. now owns 10,141 shares of the semiconductor company’s stock worth $819,000 after buying an additional 258 shares in the last quarter. Finally, Sensato Investors LLC purchased a new stake in shares of Texas Instruments during the first quarter worth approximately $4,229,000. Hedge funds and other institutional investors own 84.64% of the company’s stock.
Shares of Texas Instruments Incorporated (NASDAQ:TXN) traded up 0.66% during mid-day trading on Friday, hitting $80.89. The company’s stock had a trading volume of 3,426,144 shares. The stock has a 50-day moving average of $80.24 and a 200-day moving average of $79.66. Texas Instruments Incorporated has a 12-month low of $66.30 and a 12-month high of $84.65. The company has a market cap of $80.08 billion, a PE ratio of 20.23 and a beta of 1.21.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.07. The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.57 billion. Texas Instruments had a return on equity of 36.52% and a net margin of 28.68%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.76 earnings per share. On average, equities research analysts forecast that Texas Instruments Incorporated will post $4.13 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 31st will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, July 27th. This represents a $2.00 annualized dividend and a yield of 2.47%. Texas Instruments’s dividend payout ratio is presently 50.51%.
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TXN has been the topic of several recent research reports. B. Riley restated a “neutral” rating and issued a $89.00 price objective on shares of Texas Instruments in a research report on Monday, July 31st. 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 report on Thursday, July 27th. Morgan Stanley restated an “equal weight” rating and issued a $83.00 price objective (up previously from $78.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. Barclays PLC lowered their price objective on Texas Instruments from $78.00 to $83.00 in a research report on Wednesday, July 26th. Finally, Loop Capital restated a “hold” rating and issued a $84.00 price objective (up previously from $79.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $85.96.
In other Texas Instruments news, COO Brian T. Crutcher sold 50,000 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $81.09, for a total transaction of $4,054,500.00. Following the completion of the sale, the chief operating officer now directly owns 201,440 shares in the company, valued at $16,334,769.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert E. Sanchez sold 26,905 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $81.48, for a total value of $2,192,219.40. Following the sale, the director now owns 27,565 shares of the company’s stock, valued at $2,245,996.20. The disclosure for this sale can be found here. Insiders have sold 90,905 shares of company stock valued at $7,398,219 over the last 90 days. 0.96% of the stock is currently 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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