M&T Bank Corp trimmed its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 5.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 172,477 shares of the semiconductor company’s stock after selling 10,149 shares during the period. M&T Bank Corp’s holdings in Texas Instruments were worth $13,268,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of TXN. Enterprise Financial Services Corp increased its stake in Texas Instruments by 0.3% during the 2nd quarter. Enterprise Financial Services Corp now owns 1,481 shares of the semiconductor company’s stock valued at $114,000 after purchasing an additional 4 shares in the last quarter. Financial Advisory Service Inc. grew its stake in shares of Texas Instruments by 0.4% in the second quarter. Financial Advisory Service Inc. now owns 3,171 shares of the semiconductor company’s stock worth $244,000 after acquiring an additional 12 shares during the period. TNB Financial grew its stake in shares of Texas Instruments by 0.5% in the second quarter. TNB Financial now owns 2,879 shares of the semiconductor company’s stock worth $221,000 after acquiring an additional 14 shares during the period. Guardian Life Insurance Co. of America grew its stake in shares of Texas Instruments by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 3,855 shares of the semiconductor company’s stock worth $311,000 after acquiring an additional 26 shares during the period. Finally, Hudock Capital Group LLC grew its stake in shares of Texas Instruments by 1.3% in the second quarter. Hudock Capital Group LLC now owns 2,003 shares of the semiconductor company’s stock worth $154,000 after acquiring an additional 26 shares during the period. 83.63% of the stock is owned by hedge funds and other institutional investors.
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TXN has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Texas Instruments from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. SunTrust Banks, Inc. restated a “hold” rating and set a $96.00 target price on shares of Texas Instruments in a research report on Wednesday. Stifel Nicolaus reaffirmed a “hold” rating and set a $98.00 price target (up previously from $85.00) on shares of Texas Instruments in a report on Wednesday. Morgan Stanley reaffirmed an “equal weight” rating and set a $83.00 price target (up previously from $78.00) on shares of Texas Instruments in a report on Wednesday, July 26th. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $85.00 price target (up previously from $82.00) on shares of Texas Instruments in a report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Texas Instruments currently has a consensus rating of “Buy” and an average target price of $93.85.
In other news, insider Ellen Barker sold 15,000 shares of Texas Instruments stock in a transaction on Monday, August 14th. The stock was sold at an average price of $81.87, for a total transaction of $1,228,050.00. Following the transaction, the insider now owns 45,697 shares in the company, valued at $3,741,213.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kevin J. Ritchie sold 105,396 shares of Texas Instruments stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $81.91, for a total value of $8,632,986.36. Following the transaction, the insider now owns 252,257 shares in the company, valued at approximately $20,662,370.87. The disclosure for this sale can be found here. Insiders sold a total of 197,301 shares of company stock worth $16,107,756 in the last three months. Company insiders own 0.96% of the company’s stock.
Texas Instruments Incorporated (NASDAQ TXN) traded up 0.01% during midday trading on Friday, reaching $96.16. 339,629 shares of the company were exchanged. Texas Instruments Incorporated has a 52-week low of $66.80 and a 52-week high of $96.74. The company has a 50 day moving average of $89.23 and a 200-day moving average of $82.77. The company has a market capitalization of $95.20 billion, a price-to-earnings ratio of 24.05 and a beta of 1.24.
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, topping the consensus estimate of $1.12 by $0.14. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate 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 quarter last year, the business posted $0.94 EPS. On average, equities research analysts anticipate that Texas Instruments Incorporated will post $4.14 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Monday, October 30th. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50. Texas Instruments’s payout ratio is currently 46.73%.
Texas Instruments announced that its board has initiated a share repurchase plan on Thursday, September 21st that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor company to reacquire up to 74% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
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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