First Dallas Securities Inc. trimmed its position in Texas Instruments Incorporated (NASDAQ:TXN) by 7.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,024 shares of the semiconductor company’s stock after selling 600 shares during the quarter. First Dallas Securities Inc.’s holdings in Texas Instruments were worth $630,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. American Beacon Advisors Inc. bought a new position in shares of Texas Instruments in the first quarter worth approximately $101,000. Patriot Financial Group Insurance Agency LLC increased its position in shares of Texas Instruments by 18.4% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock worth $101,000 after purchasing an additional 200 shares during the last quarter. MV Capital Management Inc. increased its position in shares of Texas Instruments by 7.6% in the second quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 93 shares during the last quarter. Balentine LLC increased its position in shares of Texas Instruments by 6.5% in the first quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock worth $106,000 after purchasing an additional 80 shares during the last quarter. Finally, Acrospire Investment Management LLC increased its position in shares of Texas Instruments by 55.6% in the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the semiconductor company’s stock worth $108,000 after purchasing an additional 500 shares during the last quarter. 85.25% of the stock is currently owned by hedge funds and other institutional investors.
In related news, COO Brian T. Crutcher sold 68,687 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $96.10, for a total value of $6,600,820.70. Following the completion of the sale, the chief operating officer now owns 346,428 shares of the company’s stock, valued at $33,291,730.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Bing Xie sold 17,500 shares of the firm’s stock in a transaction on 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 completion of the sale, the senior vice president now directly owns 78,102 shares of the company’s stock, valued at approximately $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 in the last 90 days. Company insiders own 0.96% of the company’s stock.
Several research analysts recently weighed in on the stock. KeyCorp restated a “hold” rating on shares of Texas Instruments in a research report on Friday. Mizuho restated a “hold” rating on shares of Texas Instruments in a research report on Wednesday, October 25th. BMO Capital Markets restated a “buy” rating and issued a $105.00 price objective on shares of Texas Instruments in a research report on Wednesday, October 25th. Deutsche Bank AG upped their price objective on shares of Texas Instruments from $80.00 to $92.00 and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Finally, Bank of America Corporation upped their price objective on shares of Texas Instruments from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $93.85.
Texas Instruments Incorporated (NASDAQ:TXN) opened at $99.30 on Friday. The company has a quick ratio of 2.96, a current ratio of 3.89 and a debt-to-equity ratio of 0.28. Texas Instruments Incorporated has a fifty-two week low of $69.92 and a fifty-two week high of $99.65. The stock has a market cap of $97,866.21, a P/E ratio of 24.46, a PEG ratio of 2.38 and a beta of 1.28.
Texas Instruments (NASDAQ:TXN) last issued its earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.14. Texas Instruments had a net margin of 29.98% and a return on equity of 38.88%. The firm had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter last year, the business earned $0.94 earnings per share. The business’s revenue was up 12.0% on a year-over-year basis. research analysts forecast that Texas Instruments Incorporated will post 4.34 EPS for the current fiscal year.
Texas Instruments announced that its Board of Directors has approved a share repurchase program on Thursday, September 21st that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 74% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st were issued a $0.62 dividend. This is a boost from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, October 30th. This represents a $2.48 annualized dividend and a dividend yield of 2.50%. Texas Instruments’s dividend payout ratio (DPR) is currently 57.94%.
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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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