Victory Capital Management Inc. grew its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 110.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 293,912 shares of the semiconductor company’s stock after purchasing an additional 154,238 shares during the period. Victory Capital Management Inc.’s holdings in Texas Instruments were worth $26,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. American Beacon Advisors Inc. purchased a new stake in shares of Texas Instruments in the first quarter valued at approximately $101,000. Patriot Financial Group Insurance Agency LLC grew its position in shares of 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 valued at $101,000 after purchasing an additional 200 shares in the last quarter. MV Capital Management Inc. grew its position in shares of Texas Instruments by 7.6% in the second quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock valued at $102,000 after purchasing an additional 93 shares in the last quarter. ClariVest Asset Management LLC grew its position in shares of Texas Instruments by 8.4% in the first quarter. ClariVest Asset Management LLC now owns 1,296 shares of the semiconductor company’s stock valued at $104,000 after purchasing an additional 100 shares in the last quarter. Finally, Balentine LLC grew its position in shares of Texas Instruments by 6.5% in the first quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.
In other news, SVP Cynthia Hoff Trochu sold 31,112 shares of Texas Instruments stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $96.27, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP R Gregory Delagi sold 61,250 shares of Texas Instruments stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $96.75, for a total value of $5,925,937.50. Following the sale, the vice president now owns 189,234 shares in the company, valued at approximately $18,308,389.50. The disclosure for this sale can be found here. Insiders have sold 1,482,689 shares of company stock worth $141,615,432 in the last quarter. Insiders own 0.96% of the company’s stock.
Several research analysts recently weighed in on TXN shares. Robert W. Baird increased their price objective on Texas Instruments from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. BidaskClub upgraded Texas Instruments from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 2nd. Zacks Investment Research lowered Texas Instruments from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Barclays PLC increased their price objective on Texas Instruments from $85.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 18th. Finally, Royal Bank Of Canada increased their price objective on Texas Instruments from $95.00 to $96.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $93.85.
Shares of Texas Instruments Incorporated (TXN) opened at $96.94 on Friday. The company has a current ratio of 3.89, a quick ratio of 2.96 and a debt-to-equity ratio of 0.28. Texas Instruments Incorporated has a 52-week low of $69.00 and a 52-week high of $99.05. The company has a market capitalization of $95,540.28, a PE ratio of 23.88, a PEG ratio of 2.33 and a beta of 1.28.
Texas Instruments (NASDAQ:TXN) last posted its earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.14. Texas Instruments had a return on equity of 38.88% and a net margin of 29.98%. The business 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 firm earned $0.94 earnings per share. The business’s revenue was up 12.0% compared to the same quarter last year. research analysts forecast that Texas Instruments Incorporated will post 4.33 EPS for the current fiscal year.
Texas Instruments announced that its board has approved a share buyback program on Thursday, September 21st that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 74% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.56%. This is a boost from Texas Instruments’s previous quarterly dividend of $0.50. Texas Instruments’s payout ratio is 57.94%.
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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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