Texas Instruments Incorporated (TXN) Director Ralph W. Babb, Jr. Sells 22,158 Shares
Texas Instruments Incorporated (NASDAQ:TXN) Director Ralph W. Babb, Jr. sold 22,158 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $96.51, for a total value of $2,138,468.58. Following the completion of the sale, the director now owns 41,454 shares in the company, valued at approximately $4,000,725.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Texas Instruments Incorporated (TXN) opened at 96.69 on Wednesday. The company’s 50 day moving average price is $90.87 and its 200-day moving average price is $83.27. The firm has a market cap of $95.73 billion, a P/E ratio of 24.18 and a beta of 1.24. Texas Instruments Incorporated has a 12-month low of $66.80 and a 12-month high of $97.56.
Texas Instruments (NASDAQ:TXN) last announced its earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.14. The firm had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $3.91 billion. Texas Instruments had a return on equity of 38.88% and a net margin of 29.98%. The business’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 EPS. On average, equities research analysts anticipate that Texas Instruments Incorporated will post $4.35 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 31st will be given a $0.62 dividend. The ex-dividend date of this dividend is Monday, October 30th. This is a boost from Texas Instruments’s previous quarterly dividend of $0.50. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.56%. Texas Instruments’s dividend payout ratio is 57.94%.
Texas Instruments announced that its Board of Directors has initiated a share repurchase plan on Thursday, September 21st that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 74% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. American Beacon Advisors Inc. acquired a new stake in Texas Instruments during the 1st quarter worth approximately $101,000. Patriot Financial Group Insurance Agency LLC lifted its position in Texas Instruments by 18.4% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock worth $101,000 after acquiring an additional 200 shares during the period. MV Capital Management Inc. lifted its position in Texas Instruments by 7.6% during the 2nd quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock worth $102,000 after acquiring an additional 93 shares during the period. ClariVest Asset Management LLC lifted its position in Texas Instruments by 8.4% during the 1st quarter. ClariVest Asset Management LLC now owns 1,296 shares of the semiconductor company’s stock worth $104,000 after acquiring an additional 100 shares during the period. Finally, Balentine LLC lifted its position in Texas Instruments by 6.5% during the 1st quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock worth $106,000 after acquiring an additional 80 shares during the period. 83.75% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on TXN shares. Stifel Nicolaus restated a “hold” rating and set a $98.00 price target (up previously from $85.00) on shares of Texas Instruments in a research note on Wednesday, October 25th. Credit Suisse Group restated an “outperform” rating and set a $110.00 price target (up previously from $95.00) on shares of Texas Instruments in a research note on Wednesday, October 25th. B. Riley restated a “neutral” rating and set a $89.00 price target on shares of Texas Instruments in a research note on Monday, July 31st. BMO Capital Markets restated a “buy” rating and set a $105.00 price target on shares of Texas Instruments in a research note on Wednesday, October 25th. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating and set a $110.00 price target (up previously from $92.00) on shares of Texas Instruments in a research note on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Texas Instruments presently has a consensus rating of “Buy” and an average target price of $93.85.
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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