Johnson Financial Group Inc. cut its position in Texas Instruments Incorporated (NASDAQ:TXN) by 73.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,027 shares of the semiconductor company’s stock after selling 17,085 shares during the quarter. Johnson Financial Group Inc.’s holdings in Texas Instruments were worth $463,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Pittenger & Anderson Inc. bought a new position in Texas Instruments in the second quarter worth about $1,142,000. State Farm Mutual Automobile Insurance Co. raised its holdings in Texas Instruments by 539.1% in the second quarter. State Farm Mutual Automobile Insurance Co. now owns 1,140,765 shares of the semiconductor company’s stock worth $87,759,000 after purchasing an additional 962,265 shares in the last quarter. Aberdeen Asset Management PLC UK raised its holdings in Texas Instruments by 10.3% in the second quarter. Aberdeen Asset Management PLC UK now owns 1,701,801 shares of the semiconductor company’s stock worth $130,919,000 after purchasing an additional 159,177 shares in the last quarter. HPM Partners LLC raised its holdings in Texas Instruments by 15.9% in the second quarter. HPM Partners LLC now owns 32,342 shares of the semiconductor company’s stock worth $2,503,000 after purchasing an additional 4,426 shares in the last quarter. Finally, AXA raised its holdings in Texas Instruments by 6.9% in the second quarter. AXA now owns 1,183,375 shares of the semiconductor company’s stock worth $91,037,000 after purchasing an additional 75,983 shares in the last quarter. Institutional investors and hedge funds own 83.68% of the company’s stock.
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In other news, Director Robert E. Sanchez sold 26,905 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 27,565 shares of the company’s stock, valued at $2,245,996.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carrie Smith Cox sold 14,000 shares of the business’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 transaction, the director now directly owns 38,435 shares in the company, valued at approximately $3,161,278.75. The disclosure for this sale can be found here. In the last three months, insiders sold 211,301 shares of company stock worth $17,259,256. Corporate insiders own 0.96% of the company’s stock.
Shares of Texas Instruments Incorporated (NASDAQ:TXN) opened at 91.35 on Friday. The firm has a 50-day moving average price of $84.73 and a 200 day moving average price of $81.49. The stock has a market cap of $90.44 billion, a price-to-earnings ratio of 22.85 and a beta of 1.24. Texas Instruments Incorporated has a 52-week low of $66.80 and a 52-week high of $91.54.
Texas Instruments (NASDAQ:TXN) last released its earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.07. The business had revenue of $3.69 billion for 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 company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 earnings per share. Analysts expect that Texas Instruments Incorporated will post $4.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st will be issued a $0.62 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.71%. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.50. Texas Instruments’s payout ratio is presently 50.51%.
Texas Instruments declared that its board has initiated a share buyback plan on Thursday, September 21st that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 74% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
A number of brokerages have commented on TXN. Stifel Nicolaus reiterated a “hold” rating and issued a $85.00 target price on shares of Texas Instruments in a report on Wednesday. Sanford C. Bernstein reiterated an “outperform” rating and issued a $95.00 target price on shares of Texas Instruments in a report on Tuesday, September 26th. Jefferies Group LLC reiterated a “buy” rating and issued a $96.00 target price on shares of Texas Instruments in a report on Monday, September 25th. BidaskClub upgraded shares of Texas Instruments from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 20th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Texas Instruments in a report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $86.51.
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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