Texas Instruments Incorporated (TXN) Holdings Reduced by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lessened its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 17.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,022 shares of the semiconductor company’s stock after selling 6,503 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Texas Instruments were worth $3,136,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. BerganKDV Wealth Management LLC grew its position in shares of Texas Instruments by 53.3% during the 3rd quarter. BerganKDV Wealth Management LLC now owns 12,034 shares of the semiconductor company’s stock valued at $1,079,000 after buying an additional 4,182 shares during the last quarter. Ingalls & Snyder LLC grew its position in Texas Instruments by 9.6% in the 3rd quarter. Ingalls & Snyder LLC now owns 12,600 shares of the semiconductor company’s stock worth $1,129,000 after purchasing an additional 1,100 shares during the last quarter. PGGM Investments grew its position in Texas Instruments by 102.8% in the 3rd quarter. PGGM Investments now owns 956,619 shares of the semiconductor company’s stock worth $85,751,000 after purchasing an additional 484,906 shares during the last quarter. Sather Financial Group Inc bought a new position in Texas Instruments in the 2nd quarter worth about $600,000. Finally, Legal & General Group Plc grew its position in Texas Instruments by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 5,089,028 shares of the semiconductor company’s stock worth $391,499,000 after purchasing an additional 73,740 shares during the last quarter. Institutional investors and hedge funds own 83.82% of the company’s stock.

In related news, Director Mark A. Blinn sold 16,990 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $96.44, for a total value of $1,638,515.60. Following the completion of the sale, the director now owns 18,495 shares in the company, valued at approximately $1,783,657.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Bing Xie sold 17,500 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now owns 78,102 shares of the company’s stock, valued at approximately $7,539,186.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,362,293 shares of company stock valued at $131,754,396. 0.96% of the stock is owned by insiders.

TXN has been the subject of several recent analyst reports. BMO Capital Markets restated an “outperform” rating on shares of Texas Instruments in a research report on Tuesday, September 12th. Morgan Stanley upped their target price on shares of Texas Instruments from $88.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. Robert W. Baird upped their target price on shares of Texas Instruments from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Deutsche Bank upped their target price on shares of Texas Instruments from $80.00 to $92.00 and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Finally, Bank of America upped their target price on shares of Texas Instruments from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company’s stock. Texas Instruments has a consensus rating of “Buy” and a consensus target price of $95.51.

Texas Instruments Incorporated (TXN) traded up $0.75 during mid-day trading on Wednesday, reaching $110.39. 4,747,700 shares of the company traded hands, compared to its average volume of 5,194,633. Texas Instruments Incorporated has a fifty-two week low of $73.87 and a fifty-two week high of $110.98. The firm has a market capitalization of $107,470.00, a price-to-earnings ratio of 25.15, a PEG ratio of 2.49 and a beta of 1.27. 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 (NASDAQ:TXN) last released its earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 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 business 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 earned $0.94 earnings per share. The business’s quarterly revenue was up 12.0% on a year-over-year basis. equities analysts forecast that Texas Instruments Incorporated will post 4.36 earnings per share for the current year.

Texas Instruments declared that its Board of Directors has approved a stock buyback program on Thursday, September 21st that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 74% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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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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Institutional Ownership by Quarter for Texas Instruments (NASDAQ:TXN)

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