Texas Instruments Incorporated (TXN) Shares Bought by Segment Wealth Management LLC
Segment Wealth Management LLC lifted its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 10.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,566 shares of the semiconductor company’s stock after purchasing an additional 3,434 shares during the quarter. Segment Wealth Management LLC’s holdings in Texas Instruments were worth $2,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of TXN. Vanguard Group Inc. increased its holdings in Texas Instruments by 4.7% in the first quarter. Vanguard Group Inc. now owns 79,646,537 shares of the semiconductor company’s stock worth $6,416,325,000 after buying an additional 3,551,400 shares during the last quarter. BlackRock Inc. increased its holdings in Texas Instruments by 1.1% in the second quarter. BlackRock Inc. now owns 65,400,461 shares of the semiconductor company’s stock worth $5,031,257,000 after buying an additional 681,821 shares during the last quarter. State Street Corp increased its holdings in Texas Instruments by 1.4% in the first quarter. State Street Corp now owns 40,943,910 shares of the semiconductor company’s stock worth $3,298,445,000 after buying an additional 573,645 shares during the last quarter. Northern Trust Corp increased its holdings in Texas Instruments by 0.4% in the second quarter. Northern Trust Corp now owns 13,556,007 shares of the semiconductor company’s stock worth $1,042,864,000 after buying an additional 53,846 shares during the last quarter. Finally, FMR LLC increased its holdings in Texas Instruments by 12.3% in the first quarter. FMR LLC now owns 12,172,327 shares of the semiconductor company’s stock worth $980,603,000 after buying an additional 1,328,606 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.
Texas Instruments Incorporated (NASDAQ:TXN) opened at 94.23 on Tuesday. The company has a 50-day moving average price of $86.61 and a 200 day moving average price of $81.95. Texas Instruments Incorporated has a 12 month low of $66.80 and a 12 month high of $94.41. The company has a market capitalization of $93.29 billion, a PE ratio of 23.57 and a beta of 1.24.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings data on Tuesday, July 25th. The semiconductor company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.07. Texas Instruments had a return on equity of 36.52% and a net margin of 28.68%. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the firm posted $0.76 EPS. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities research analysts forecast that Texas Instruments Incorporated will post $4.13 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.63%. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, October 30th. Texas Instruments’s dividend payout ratio is currently 50.51%.
Texas Instruments announced that its board has authorized a share repurchase plan on Thursday, September 21st that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 74% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.
In other Texas Instruments news, Director Carrie Smith Cox sold 14,000 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $82.25, for a total value of $1,151,500.00. Following the transaction, the director now directly owns 38,435 shares of the company’s stock, valued at approximately $3,161,278.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Brian T. Crutcher sold 50,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $81.09, for a total value of $4,054,500.00. Following the completion of the transaction, the chief operating officer now directly owns 201,440 shares in the company, valued at $16,334,769.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 211,301 shares of company stock worth $17,259,256. Insiders own 0.96% of the company’s stock.
A number of research firms recently commented on TXN. Royal Bank Of Canada increased their price objective on Texas Instruments from $95.00 to $96.00 and gave the stock an “outperform” rating in a report on Wednesday, July 26th. UBS AG restated a “buy” rating and issued a $93.00 price objective (up previously from $91.00) on shares of Texas Instruments in a report on Wednesday, July 26th. Loop Capital restated a “hold” rating and issued a $84.00 price objective (up previously from $79.00) on shares of Texas Instruments in a report on Wednesday, July 26th. Drexel Hamilton increased their price objective on Texas Instruments from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Finally, SunTrust Banks, Inc. restated a “hold” rating and issued a $86.00 price objective on shares of Texas Instruments in a report on Thursday, October 12th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $86.51.
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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