Texas Instruments Incorporated (TXN) Sees Significant Decline in Short Interest

Texas Instruments Incorporated (NASDAQ:TXN) was the target of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 9,720,513 shares, a decline of 17.0% from the October 13th total of 11,715,624 shares. Based on an average daily volume of 5,133,812 shares, the days-to-cover ratio is currently 1.9 days. Approximately 1.0% of the shares of the company are sold short.

A number of analysts have recently weighed in on the company. B. Riley reiterated a “neutral” rating and set a $89.00 target price on shares of Texas Instruments in a research report on Monday, July 31st. Sanford C. Bernstein reiterated an “outperform” rating and set a $95.00 target price on shares of Texas Instruments in a research report on Tuesday, September 26th. Stifel Nicolaus reiterated a “hold” rating and set a $85.00 target price on shares of Texas Instruments in a research report on Wednesday, October 4th. Jefferies Group LLC reiterated a “buy” rating and set a $96.00 target price on shares of Texas Instruments in a research report on Monday, September 25th. Finally, SunTrust Banks, Inc. reiterated a “hold” rating and set a $86.00 target price (up from $84.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $93.85.

Shares of Texas Instruments (TXN) opened at $96.96 on Wednesday. Texas Instruments has a 52-week low of $69.92 and a 52-week high of $99.05. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.89 and a quick ratio of 2.96. The company has a market capitalization of $95,560.00, a PE ratio of 23.88, a price-to-earnings-growth ratio of 2.33 and a beta of 1.28.

Texas Instruments (NASDAQ:TXN) last announced its earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 EPS for the quarter, beating the 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 company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the prior year, the company earned $0.94 EPS. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. equities research analysts expect that Texas Instruments will post 4.33 earnings per share for the current fiscal year.

Texas Instruments announced that its Board of Directors has approved a stock repurchase plan on Thursday, September 21st that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 74% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 13th. Investors of record on Tuesday, October 31st were given a dividend of $0.62 per share. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, October 30th. This represents a $2.48 annualized dividend and a dividend yield of 2.56%. Texas Instruments’s dividend payout ratio is presently 56.49%.

In related news, Director Mark A. Blinn sold 16,990 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $96.44, for a total value of $1,638,515.60. Following the completion of the sale, the director now directly owns 18,495 shares in the company, valued at approximately $1,783,657.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard K. Templeton sold 450,000 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $96.51, for a total value of $43,429,500.00. Following the completion of the sale, the chairman now owns 1,137,056 shares of the company’s stock, valued at $109,737,274.56. The disclosure for this sale can be found here. Insiders sold a total of 1,362,293 shares of company stock valued at $131,754,396 over the last 90 days. 0.96% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. BerganKDV Wealth Management LLC boosted its position in shares of Texas Instruments by 53.3% during the 3rd quarter. BerganKDV Wealth Management LLC now owns 12,034 shares of the semiconductor company’s stock valued at $1,079,000 after purchasing an additional 4,182 shares in the last quarter. Ingalls & Snyder LLC boosted its position in shares of Texas Instruments by 9.6% during the 3rd quarter. Ingalls & Snyder LLC now owns 12,600 shares of the semiconductor company’s stock valued at $1,129,000 after purchasing an additional 1,100 shares in the last quarter. PGGM Investments boosted its position in shares of Texas Instruments by 102.8% during the 3rd quarter. PGGM Investments now owns 956,619 shares of the semiconductor company’s stock valued at $85,751,000 after purchasing an additional 484,906 shares in the last quarter. Sather Financial Group Inc bought a new stake in shares of Texas Instruments during the 2nd quarter valued at about $600,000. Finally, Legal & General Group Plc boosted its position in shares of Texas Instruments by 1.5% during the 2nd quarter. Legal & General Group Plc now owns 5,089,028 shares of the semiconductor company’s stock valued at $391,499,000 after purchasing an additional 73,740 shares in the last quarter. Institutional investors own 84.22% of the company’s stock.

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Texas Instruments Company 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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