Mackay Shields LLC Boosts Stake in Texas Instruments Incorporated (NASDAQ:TXN)
Mackay Shields LLC grew its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 6.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 323,644 shares of the semiconductor company’s stock after acquiring an additional 20,288 shares during the period. Mackay Shields LLC’s holdings in Texas Instruments were worth $41,520,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Sugarloaf Wealth Management LLC purchased a new position in shares of Texas Instruments during the 4th quarter worth approximately $27,000. Delta Asset Management LLC TN grew its holdings in shares of Texas Instruments by 890.9% during the 3rd quarter. Delta Asset Management LLC TN now owns 218 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 196 shares during the period. Lenox Wealth Management Inc. grew its holdings in shares of Texas Instruments by 766.7% during the 3rd quarter. Lenox Wealth Management Inc. now owns 260 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 230 shares during the period. Gradient Investments LLC grew its holdings in shares of Texas Instruments by 616.2% during the 4th quarter. Gradient Investments LLC now owns 265 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 228 shares during the period. Finally, IndexIQ Advisors LLC purchased a new stake in shares of Texas Instruments in the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.
TXN has been the topic of several recent research reports. BidaskClub upgraded Texas Instruments from a “sell” rating to a “hold” rating in a research note on Tuesday, February 11th. Stifel Nicolaus upped their price target on Texas Instruments from $125.00 to $130.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. SunTrust Banks upped their price target on Texas Instruments from $125.00 to $134.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Nomura upped their price target on Texas Instruments from $106.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group upped their price target on Texas Instruments from $150.00 to $164.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $127.41.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings data on Wednesday, January 22nd. The semiconductor company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.10. The business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.21 billion. Texas Instruments had a return on equity of 56.21% and a net margin of 34.83%. The firm’s quarterly revenue was down 9.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.27 EPS. Analysts expect that Texas Instruments Incorporated will post 5.11 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Friday, January 31st were given a $0.90 dividend. The ex-dividend date was Thursday, January 30th. This represents a $3.60 annualized dividend and a yield of 3.15%. Texas Instruments’s dividend payout ratio (DPR) is presently 68.70%.
In related news, VP Haviv Ilan sold 31,222 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $126.83, for a total value of $3,959,886.26. Following the transaction, the vice president now directly owns 129,606 shares of the company’s stock, valued at approximately $16,437,928.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Pamela H. Patsley sold 10,002 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $134.29, for a total value of $1,343,168.58. Following the completion of the transaction, the director now directly owns 30,926 shares in the company, valued at $4,153,052.54. The disclosure for this sale can be found here. Insiders sold a total of 661,503 shares of company stock worth $84,059,352 over the last ninety days. 0.89% of the stock is currently owned by insiders.
Texas Instruments Company Profile
Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. It operates in two segments, Analog and Embedded Processing. The Analog segment offers power products to manage power requirements in various levels using battery management solutions, portable components, power supply controls, point-of-load products, switches and interfaces, integrated protection devices, high-voltage products, and mobile lighting and display products.
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