Syntal Capital Partners LLC Invests $43.85 Million in Texas Instruments Incorporated (TXN)
Syntal Capital Partners LLC purchased a new stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) in the fourth quarter, Holdings Channel reports. The firm purchased 419,880 shares of the semiconductor company’s stock, valued at approximately $43,852,000. Texas Instruments accounts for approximately 13.4% of Syntal Capital Partners LLC’s investment portfolio, making the stock its largest position.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC grew its position in Texas Instruments by 18.4% in the second 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 in the last quarter. Acrospire Investment Management LLC grew its position in Texas Instruments by 55.6% in the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the semiconductor company’s stock worth $108,000 after acquiring an additional 500 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Texas Instruments in the second quarter worth $112,000. Westside Investment Management Inc. grew its position in Texas Instruments by 6.9% in the second quarter. Westside Investment Management Inc. now owns 1,552 shares of the semiconductor company’s stock worth $122,000 after acquiring an additional 100 shares in the last quarter. Finally, Zions Bancorporation grew its position in Texas Instruments by 915.6% in the third quarter. Zions Bancorporation now owns 1,564 shares of the semiconductor company’s stock worth $140,000 after acquiring an additional 1,410 shares in the last quarter. Hedge funds and other institutional investors own 83.85% of the company’s stock.
In related news, Director Mark A. Blinn sold 16,990 shares of the business’s 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 transaction, the director now owns 18,495 shares in the company, valued at $1,783,657.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Bing Xie sold 17,500 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $96.53, for a total transaction of $1,689,275.00. Following the transaction, the senior vice president now owns 78,102 shares in the company, valued at approximately $7,539,186.06. The disclosure for this sale can be found here. Insiders have sold 1,362,293 shares of company stock worth $131,754,396 in the last quarter. 0.96% of the stock is owned by corporate insiders.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, beating the 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 analysts’ expectations of $3.91 billion. During the same quarter in the previous year, the company earned $0.94 earnings per share. Texas Instruments’s quarterly revenue was up 12.0% on a year-over-year basis. sell-side analysts predict that Texas Instruments Incorporated will post 4.36 EPS for the current year.
Texas Instruments declared that its Board of Directors has initiated a stock repurchase 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 typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, February 12th. Investors of record on Wednesday, January 31st will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.13%. Texas Instruments’s dividend payout ratio is currently 57.94%.
Several research analysts recently issued reports on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $138.00 target price (up from $5.08) on shares of Texas Instruments in a research report on Friday. Stifel Nicolaus upped their target price on shares of Texas Instruments from $98.00 to $115.00 and gave the stock a “hold” rating in a research report on Thursday. Credit Suisse Group reiterated an “in-line” rating and issued a $125.00 target price (up from $110.00) on shares of Texas Instruments in a research report on Tuesday. Zacks Investment Research downgraded shares of Texas Instruments from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $112.00 price target on shares of Texas Instruments in a research note on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Texas Instruments presently has an average rating of “Hold” and an average target price of $97.92.
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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