MML Investors Services LLC grew its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 52.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,962 shares of the semiconductor company’s stock after acquiring an additional 7,875 shares during the quarter. MML Investors Services LLC’s holdings in Texas Instruments were worth $1,766,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. TIAA FSB purchased a new position in shares of Texas Instruments in the second quarter worth $3,117,000. FMR LLC increased its position in Texas Instruments by 2.1% during the second quarter. FMR LLC now owns 12,422,815 shares of the semiconductor company’s stock valued at $955,687,000 after acquiring an additional 250,488 shares during the last quarter. Vanguard Group Inc. increased its position in Texas Instruments by 2.1% during the second quarter. Vanguard Group Inc. now owns 81,330,150 shares of the semiconductor company’s stock valued at $6,256,728,000 after acquiring an additional 1,683,613 shares during the last quarter. Segment Wealth Management LLC increased its position in Texas Instruments by 10.7% during the second quarter. Segment Wealth Management LLC now owns 35,566 shares of the semiconductor company’s stock valued at $2,736,000 after acquiring an additional 3,434 shares during the last quarter. Finally, Northern Trust Corp increased its position in Texas Instruments by 0.4% during the second quarter. Northern Trust Corp now owns 13,556,007 shares of the semiconductor company’s stock valued at $1,042,864,000 after acquiring an additional 53,846 shares during the last quarter. 83.63% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on the company. Drexel Hamilton upped their price objective on Texas Instruments from $93.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. B. Riley reissued a “neutral” rating and set a $89.00 price target on shares of Texas Instruments in a research note on Monday, July 31st. Credit Suisse Group reissued an “outperform” rating and set a $110.00 price target (up from $95.00) on shares of Texas Instruments in a research note on Wednesday. Loop Capital reaffirmed a “hold” rating and issued a $102.00 price objective (up from $90.00) on shares of Texas Instruments in a research note on Wednesday. Finally, Deutsche Bank AG raised their price objective on Texas Instruments from $80.00 to $92.00 and gave the company a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $93.85.
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In other Texas Instruments news, Director Robert E. Sanchez sold 26,905 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $81.48, for a total value of $2,192,219.40. Following the completion of the sale, the director now directly owns 27,565 shares of the company’s stock, valued at $2,245,996.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kevin J. Ritchie sold 105,396 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $81.91, for a total transaction of $8,632,986.36. Following the sale, the insider now directly owns 252,257 shares of the company’s stock, valued at $20,662,370.87. The disclosure for this sale can be found here. Insiders have sold 197,301 shares of company stock worth $16,107,756 in the last 90 days. 0.96% of the stock is owned by company insiders.
Texas Instruments Incorporated (TXN) opened at 96.15 on Friday. The stock has a market capitalization of $95.19 billion, a PE ratio of 24.05 and a beta of 1.24. The firm has a 50-day moving average of $89.23 and a 200-day moving average of $82.77. Texas Instruments Incorporated has a one year low of $66.80 and a one year high of $96.94.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $3.91 billion. During the same period in the prior year, the business posted $0.94 EPS. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, equities research analysts forecast that Texas Instruments Incorporated will post $4.14 earnings per share for the current year.
Texas Instruments declared that its Board of Directors has initiated a share repurchase plan on Thursday, September 21st that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 74% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st will be issued a dividend of $0.62 per share. The ex-dividend date is Monday, October 30th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.58%. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.50. Texas Instruments’s payout ratio is currently 46.73%.
Texas Instruments 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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