Cornerstone Capital Management Holdings LLC. lowered its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 5.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 218,775 shares of the semiconductor company’s stock after selling 13,464 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Texas Instruments were worth $17,623,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in TXN. Norges Bank acquired a new position in shares of Texas Instruments during the fourth quarter valued at approximately $717,638,000. Jennison Associates LLC increased its position in shares of Texas Instruments by 370.0% in the first quarter. Jennison Associates LLC now owns 8,080,896 shares of the semiconductor company’s stock valued at $650,997,000 after buying an additional 6,361,577 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Texas Instruments by 12.9% in the first quarter. UBS Asset Management Americas Inc. now owns 3,704,942 shares of the semiconductor company’s stock valued at $298,470,000 after buying an additional 422,348 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Texas Instruments by 0.4% in the first quarter. Ameriprise Financial Inc. now owns 3,545,206 shares of the semiconductor company’s stock valued at $285,613,000 after buying an additional 12,891 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Texas Instruments by 26.7% in the first quarter. Swiss National Bank now owns 3,541,494 shares of the semiconductor company’s stock valued at $285,303,000 after buying an additional 747,300 shares during the last quarter. Institutional investors own 84.55% of the company’s stock.
Shares of Texas Instruments Incorporated (NASDAQ TXN) opened at 81.66 on Tuesday. The company has a 50 day moving average price of $80.47 and a 200-day moving average price of $78.30. Texas Instruments Incorporated has a one year low of $64.54 and a one year high of $84.65. The stock has a market cap of $81.36 billion, a price-to-earnings ratio of 21.73 and a beta of 1.21.
Texas Instruments (NASDAQ:TXN) last posted its earnings results on Tuesday, April 25th. The semiconductor company reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.06. Texas Instruments had a net margin of 27.54% and a return on equity of 34.50%. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same quarter last year, the firm earned $0.65 EPS. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. Equities analysts predict that Texas Instruments Incorporated will post $3.93 earnings per share for the current fiscal year.
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TXN has been the topic of several research analyst reports. Zacks Investment Research upgraded Texas Instruments from a “sell” rating to a “hold” rating in a research report on Monday. Cowen and Company boosted their price objective on Texas Instruments from $77.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, April 26th. Rosenblatt Securities restated a “buy” rating and issued a $93.00 price objective (up from $90.00) on shares of Texas Instruments in a research report on Saturday, April 29th. Vetr upgraded Texas Instruments from a “buy” rating to a “strong-buy” rating and set a $88.74 price objective on the stock in a research report on Monday, May 1st. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $84.00 price objective on shares of Texas Instruments in a research report on Tuesday, April 25th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $82.21.
In related news, insider Niels Anderskouv sold 32,420 shares of Texas Instruments stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $80.61, for a total value of $2,613,376.20. Following the completion of the sale, the insider now owns 102,028 shares in the company, valued at approximately $8,224,477.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pamela H. Patsley sold 7,000 shares of Texas Instruments stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $80.55, for a total transaction of $563,850.00. Following the completion of the sale, the director now owns 35,296 shares of the company’s stock, valued at approximately $2,843,092.80. The disclosure for this sale can be found here. Insiders sold a total of 323,780 shares of company stock valued at $26,093,457 in the last quarter. 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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