ZWJ Investment Counsel Inc. Reduces Holdings in Texas Instruments Incorporated (TXN)
ZWJ Investment Counsel Inc. lessened its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 14.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,470 shares of the semiconductor company’s stock after selling 1,430 shares during the quarter. ZWJ Investment Counsel Inc. owned 855.52% of Texas Instruments worth $759,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in TXN. BlackRock Inc. boosted its stake in shares of Texas Instruments by 1,924.6% in the 1st quarter. BlackRock Inc. now owns 64,718,640 shares of the semiconductor company’s stock valued at $5,213,733,000 after buying an additional 61,521,990 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Texas Instruments by 729.1% in the 2nd 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 period. Vanguard Group Inc. boosted its stake in shares of Texas Instruments by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 79,646,537 shares of the semiconductor company’s stock valued at $6,416,325,000 after buying an additional 3,551,400 shares during the period. Waddell & Reed Financial Inc. boosted its stake in shares of Texas Instruments by 476.4% in the 1st quarter. Waddell & Reed Financial Inc. now owns 1,988,640 shares of the semiconductor company’s stock valued at $160,205,000 after buying an additional 1,643,640 shares during the period. Finally, Koch Industries Inc. boosted its stake in shares of Texas Instruments by 36,796.2% in the 2nd quarter. Koch Industries Inc. now owns 1,359,255 shares of the semiconductor company’s stock valued at $1,342,000 after buying an additional 1,355,571 shares during the period. Institutional investors and hedge funds own 85.25% of the company’s stock.
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In related news, Director Mark A. Blinn sold 16,990 shares of the stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $96.44, for a total transaction of $1,638,515.60. Following the transaction, the director now directly owns 18,495 shares in the company, valued at $1,783,657.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Bing Xie sold 17,500 shares of the stock in a transaction dated 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 in the company, valued at $7,539,186.06. The disclosure for this sale can be found here. Insiders sold 1,362,293 shares of company stock worth $131,754,396 over the last 90 days. Company insiders own 0.96% of the company’s stock.
Shares of Texas Instruments Incorporated (NASDAQ TXN) opened at $97.74 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.89 and a quick ratio of 2.96. Texas Instruments Incorporated has a 12-month low of $69.92 and a 12-month high of $99.05. The stock has a market capitalization of $96,328.69, a price-to-earnings ratio of 24.07, a PEG ratio of 2.35 and a beta of 1.28.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings data on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business 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 earned $0.94 earnings per share. The business’s revenue was up 12.0% on a year-over-year basis. sell-side analysts anticipate that Texas Instruments Incorporated will post 4.34 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st were given a $0.62 dividend. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50. This represents a $2.48 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Monday, October 30th. Texas Instruments’s dividend payout ratio is currently 57.94%.
Texas Instruments announced that its Board of Directors has approved a stock buyback program on Thursday, September 21st that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor company to repurchase up to 74% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Several equities research analysts recently weighed in on TXN shares. Robert W. Baird boosted their target price on Texas Instruments from $85.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. BidaskClub upgraded Texas Instruments from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 2nd. Zacks Investment Research cut Texas Instruments from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Barclays PLC boosted their target price on Texas Instruments from $85.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 18th. Finally, Royal Bank Of Canada boosted their target price on Texas Instruments from $95.00 to $96.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $93.85.
Texas Instruments Profile
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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