Alliancebernstein L.P. reduced its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 7.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,421,432 shares of the semiconductor company’s stock after selling 613,436 shares during the quarter. Alliancebernstein L.P. owned 0.75% of Texas Instruments worth $570,931,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in TXN. American Beacon Advisors Inc. acquired a new stake in Texas Instruments during the 1st quarter valued at $101,000. Patriot Financial Group Insurance Agency LLC raised its stake in Texas Instruments by 18.4% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock valued at $101,000 after purchasing an additional 200 shares during the period. MV Capital Management Inc. raised its stake in Texas Instruments by 7.6% during the 2nd quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock valued at $102,000 after purchasing an additional 93 shares during the period. ClariVest Asset Management LLC raised its stake in Texas Instruments by 8.4% during the 1st quarter. ClariVest Asset Management LLC now owns 1,296 shares of the semiconductor company’s stock valued at $104,000 after purchasing an additional 100 shares during the period. Finally, Balentine LLC raised its stake in Texas Instruments by 6.5% during the 1st quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 80 shares during the period. 83.68% of the stock is currently owned by institutional investors.
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In related news, Director Robert E. Sanchez sold 26,905 shares of Texas Instruments stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $81.48, for a total transaction of $2,192,219.40. Following the completion of the sale, the director now owns 27,565 shares of the company’s stock, valued at approximately $2,245,996.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carrie Smith Cox sold 14,000 shares of Texas Instruments stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $82.25, for a total transaction of $1,151,500.00. Following the sale, the director now directly owns 38,435 shares of the company’s stock, valued at approximately $3,161,278.75. The disclosure for this sale can be found here. Insiders have sold a total of 211,301 shares of company stock valued at $17,259,256 in the last ninety days. 0.96% of the stock is currently owned by insiders.
Shares of Texas Instruments Incorporated (NASDAQ TXN) opened at 91.35 on Friday. The company has a 50 day moving average of $84.73 and a 200 day moving average of $81.49. The company has a market cap of $90.44 billion, a PE ratio of 22.85 and a beta of 1.24. Texas Instruments Incorporated has a 1-year low of $66.80 and a 1-year high of $91.54.
Texas Instruments (NASDAQ:TXN) last announced its earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.96 by $0.07. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.57 billion. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. Texas Instruments’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.76 EPS. Equities analysts expect that Texas Instruments Incorporated will post $4.13 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 31st will be issued a dividend of $0.62 per share. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, October 30th. This represents a $2.48 annualized dividend and a dividend yield of 2.71%. Texas Instruments’s payout ratio is presently 50.51%.
Texas Instruments announced that its Board of Directors has approved a stock repurchase program on Thursday, September 21st that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 74% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
A number of equities analysts have recently weighed in on TXN shares. Royal Bank Of Canada upped their price target on shares of Texas Instruments from $95.00 to $96.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 26th. UBS AG reaffirmed a “buy” rating and issued a $93.00 price target (up from $91.00) on shares of Texas Instruments in a research note on Wednesday, July 26th. Loop Capital reaffirmed a “hold” rating and issued a $84.00 price target (up from $79.00) on shares of Texas Instruments in a research note on Wednesday, July 26th. Drexel Hamilton upped their price target on shares of Texas Instruments from $93.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Finally, Zacks Investment Research raised shares of Texas Instruments from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target 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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