Piedmont Investment Advisors LLC grew its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 13.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 275,976 shares of the semiconductor company’s stock after buying an additional 32,301 shares during the period. Piedmont Investment Advisors LLC’s holdings in Texas Instruments were worth $24,738,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in TXN. Enterprise Financial Services Corp lifted its holdings in shares of Texas Instruments by 0.3% in the 2nd quarter. Enterprise Financial Services Corp now owns 1,481 shares of the semiconductor company’s stock worth $114,000 after acquiring an additional 4 shares during the last quarter. Financial Advisory Service Inc. raised its holdings in Texas Instruments by 0.4% during the 2nd quarter. Financial Advisory Service Inc. now owns 3,171 shares of the semiconductor company’s stock valued at $244,000 after buying an additional 12 shares during the last quarter. Highland Private Wealth Management raised its holdings in Texas Instruments by 0.8% during the 2nd quarter. Highland Private Wealth Management now owns 3,042 shares of the semiconductor company’s stock valued at $234,000 after buying an additional 25 shares during the last quarter. Hudock Capital Group LLC raised its holdings in Texas Instruments by 1.3% during the 2nd quarter. Hudock Capital Group LLC now owns 2,003 shares of the semiconductor company’s stock valued at $154,000 after buying an additional 26 shares during the last quarter. Finally, RB Capital Management LLC raised its holdings in Texas Instruments by 0.6% during the 2nd quarter. RB Capital Management LLC now owns 5,207 shares of the semiconductor company’s stock valued at $401,000 after buying an additional 30 shares during the last quarter. 83.97% of the stock is owned by institutional investors and hedge funds.
Shares of Texas Instruments Incorporated (NASDAQ TXN) opened at $98.83 on Tuesday. Texas Instruments Incorporated has a 1 year low of $71.19 and a 1 year high of $99.79. The company has a market cap of $96,604.64, a PE ratio of 24.14, a P/E/G ratio of 2.34 and a beta of 1.27. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.96 and a current ratio of 3.89.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings data on Tuesday, October 24th. The semiconductor company reported $1.26 EPS for the quarter, beating the Thomson Reuters’ 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 company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same period in the prior year, the firm posted $0.94 EPS. Texas Instruments’s revenue for the quarter was up 12.0% on a year-over-year basis. equities analysts predict that Texas Instruments Incorporated will post 4.36 earnings per share for the current fiscal year.
The company also recently disclosed 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 represents a $2.48 annualized dividend and a yield of 2.51%. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, October 30th. Texas Instruments’s dividend payout ratio is 57.94%.
Texas Instruments declared that its board has initiated a stock buyback plan on Thursday, September 21st that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 74% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
A number of research analysts have issued reports on the stock. SunTrust Banks reissued a “hold” rating and set a $96.00 price objective on shares of Texas Instruments in a research report on Wednesday, October 25th. Stifel Nicolaus reissued a “hold” rating and set a $98.00 price objective (up from $85.00) on shares of Texas Instruments in a research report on Wednesday, October 25th. B. Riley reissued a “hold” rating and set a $97.00 price objective (up from $89.00) on shares of Texas Instruments in a research report on Wednesday, October 25th. BidaskClub downgraded shares of Texas Instruments from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 13th. Finally, Zacks Investment Research raised shares of Texas Instruments from a “hold” rating to a “strong-buy” rating and set a $107.00 price objective on the stock in a research report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $93.85.
In related news, COO Brian T. Crutcher sold 68,687 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $96.10, for a total transaction of $6,600,820.70. Following the sale, the chief operating officer now directly owns 346,428 shares of the company’s stock, valued at approximately $33,291,730.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Blinn sold 16,990 shares of the stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $96.44, for a total transaction of $1,638,515.60. Following the sale, the director now directly owns 18,495 shares in the company, valued at $1,783,657.80. The disclosure for this sale can be found here. Insiders have sold a total of 1,362,293 shares of company stock worth $131,754,396 over the last three months. 0.96% of the stock is currently owned by insiders.
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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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