Pinebridge Investments L.P. Sells 41,682 Shares of Texas Instruments Incorporated (TXN)
Pinebridge Investments L.P. decreased its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 13.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,435 shares of the semiconductor company’s stock after selling 41,682 shares during the quarter. Pinebridge Investments L.P.’s holdings in Texas Instruments were worth $24,152,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. San Francisco Sentry Investment Group CA boosted its position in shares of Texas Instruments by 10.6% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 6,250 shares of the semiconductor company’s stock worth $560,000 after purchasing an additional 600 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of Texas Instruments in the 3rd quarter worth $6,913,000. Commerzbank Aktiengesellschaft FI boosted its position in shares of Texas Instruments by 84.2% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 15,347 shares of the semiconductor company’s stock worth $1,376,000 after purchasing an additional 7,016 shares in the last quarter. Bruderman Asset Management LLC boosted its position in shares of Texas Instruments by 23.3% in the 3rd quarter. Bruderman Asset Management LLC now owns 20,605 shares of the semiconductor company’s stock worth $1,847,000 after purchasing an additional 3,888 shares in the last quarter. Finally, Welch & Forbes LLC boosted its position in shares of Texas Instruments by 2.1% in the 3rd quarter. Welch & Forbes LLC now owns 31,381 shares of the semiconductor company’s stock worth $2,813,000 after purchasing an additional 660 shares in the last quarter. 83.97% of the stock is owned by hedge funds and other institutional investors.
In other news, VP R Gregory Delagi sold 61,250 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $96.75, for a total transaction of $5,925,937.50. Following the sale, the vice president now directly owns 189,234 shares in the company, valued at approximately $18,308,389.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Cynthia Hoff Trochu sold 31,112 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $96.27, for a total value of $2,995,152.24. Following the sale, the senior vice president now owns 74,029 shares in the company, valued at $7,126,771.83. 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 90 days. Insiders own 0.96% of the company’s stock.
Texas Instruments Incorporated (NASDAQ TXN) opened at $97.02 on Thursday. The firm has a market capitalization of $95,620.00, a PE ratio of 23.87, a price-to-earnings-growth ratio of 2.32 and a beta of 1.27. Texas Instruments Incorporated has a 52 week low of $71.12 and a 52 week high of $99.79. 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 released its quarterly earnings data on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.14. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $3.91 billion. Texas Instruments had a return on equity of 38.88% and a net margin of 29.98%. The company’s revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the business posted $0.94 EPS. equities research analysts expect that Texas Instruments Incorporated will post 4.36 earnings per share for the current fiscal year.
Texas Instruments announced that its board has approved a share buyback plan on Thursday, September 21st that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 74% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st were given a dividend of $0.62 per share. The ex-dividend date was 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 (DPR) is 56.49%.
A number of equities analysts recently issued reports on TXN shares. Robert W. Baird restated a “hold” rating and issued a $85.00 target price on shares of Texas Instruments in a research note on Thursday, August 24th. BidaskClub upgraded Texas Instruments from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 2nd. BMO Capital Markets restated an “outperform” rating on shares of Texas Instruments in a research note on Tuesday, September 12th. Jefferies Group restated a “buy” rating and issued a $96.00 target price on shares of Texas Instruments in a research note on Monday, September 25th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $95.00 target price on shares of Texas Instruments in a research note on Tuesday, September 26th. One investment 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 company’s stock. The company currently has an average rating of “Buy” and an average target price of $93.85.
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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