Cullen Frost Bankers Inc. Has $6.33 Million Stake in Texas Instruments Incorporated (TXN)
Cullen Frost Bankers Inc. lifted its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 7.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,319 shares of the semiconductor company’s stock after acquiring an additional 5,689 shares during the period. Cullen Frost Bankers Inc.’s holdings in Texas Instruments were worth $6,332,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. American Beacon Advisors Inc. bought a new stake in Texas Instruments during the first quarter valued at $101,000. ClariVest Asset Management LLC boosted its stake in Texas Instruments by 8.4% during the first quarter. ClariVest Asset Management LLC now owns 1,296 shares of the semiconductor company’s stock valued at $104,000 after buying an additional 100 shares during the period. Balentine LLC boosted its stake in Texas Instruments by 6.5% during the first quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock valued at $106,000 after buying an additional 80 shares during the period. TCI Wealth Advisors Inc. boosted its stake in Texas Instruments by 33.2% during the first quarter. TCI Wealth Advisors Inc. now owns 1,335 shares of the semiconductor company’s stock valued at $108,000 after buying an additional 333 shares during the period. Finally, American National Bank boosted its stake in Texas Instruments by 2,470.9% during the second quarter. American National Bank now owns 1,414 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 1,359 shares during the period. 83.69% of the stock is owned by hedge funds and other institutional investors.
Texas Instruments Incorporated (NASDAQ TXN) opened at 82.00 on Friday. The stock has a 50 day moving average price of $81.48 and a 200 day moving average price of $80.32. Texas Instruments Incorporated has a 12-month low of $66.30 and a 12-month high of $84.65. The stock has a market cap of $81.18 billion, a P/E ratio of 20.51 and a beta of 1.20.
Texas Instruments (NASDAQ:TXN) last announced its earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.07. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. The business’s revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 EPS. On average, analysts forecast that Texas Instruments Incorporated will post $4.13 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend was Thursday, July 27th. Texas Instruments’s dividend payout ratio is 50.51%.
In other news, COO Brian T. Crutcher sold 50,000 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $81.09, for a total transaction of $4,054,500.00. Following the sale, the chief operating officer now directly owns 201,440 shares in the company, valued at approximately $16,334,769.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carrie Smith Cox sold 14,000 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $82.25, for a total transaction of $1,151,500.00. Following the sale, the director now owns 38,435 shares in the company, valued at $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 worth $17,259,256 over the last 90 days. Corporate insiders own 0.96% of the company’s stock.
Several equities research analysts recently issued reports on TXN shares. BidaskClub raised Texas Instruments from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 2nd. Zacks Investment Research lowered Texas Instruments from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. Royal Bank Of Canada lifted their price objective on Texas Instruments from $95.00 to $96.00 and gave the company an “outperform” rating in a research note on Wednesday, July 26th. Barclays PLC lifted their price objective on Texas Instruments from $77.00 to $83.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 18th. Finally, SunTrust Banks, Inc. reissued a “hold” rating and set a $86.00 price objective (up previously from $84.00) on shares of Texas Instruments in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $85.96.
About Texas Instruments
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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