Estabrook Capital Management Decreases Position in Texas Instruments Incorporated (TXN)

Estabrook Capital Management trimmed its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 7.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,285 shares of the semiconductor company’s stock after selling 2,090 shares during the period. Estabrook Capital Management’s holdings in Texas Instruments were worth $2,536,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. BlackRock Inc. boosted its position in Texas Instruments by 2.5% during the 4th quarter. BlackRock Inc. now owns 68,815,117 shares of the semiconductor company’s stock worth $7,187,053,000 after purchasing an additional 1,682,070 shares during the period. Capital International Investors boosted its position in Texas Instruments by 3.0% during the 3rd quarter. Capital International Investors now owns 14,794,402 shares of the semiconductor company’s stock worth $1,326,170,000 after purchasing an additional 435,938 shares during the period. Janus Henderson Group PLC boosted its position in Texas Instruments by 16.5% during the 3rd quarter. Janus Henderson Group PLC now owns 14,482,401 shares of the semiconductor company’s stock worth $1,298,212,000 after purchasing an additional 2,055,040 shares during the period. Jennison Associates LLC boosted its position in Texas Instruments by 31.0% during the 4th quarter. Jennison Associates LLC now owns 8,708,463 shares of the semiconductor company’s stock worth $909,512,000 after purchasing an additional 2,061,255 shares during the period. Finally, American International Group Inc. boosted its position in Texas Instruments by 1,093.2% during the 4th quarter. American International Group Inc. now owns 5,611,506 shares of the semiconductor company’s stock worth $586,066,000 after purchasing an additional 5,141,210 shares during the period. 83.89% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on TXN. Credit Suisse Group reaffirmed an “outperform” rating and set a $110.00 price target (up from $95.00) on shares of Texas Instruments in a research report on Wednesday, October 25th. Deutsche Bank upped their price objective on shares of Texas Instruments from $80.00 to $92.00 and gave the company a “hold” rating in a research report on Wednesday, October 25th. Loop Capital reissued a “hold” rating and issued a $102.00 price objective (up from $90.00) on shares of Texas Instruments in a research report on Wednesday, October 25th. Nomura upped their price objective on shares of Texas Instruments from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Finally, Drexel Hamilton reissued a “buy” rating and issued a $110.00 price objective (up from $95.00) on shares of Texas Instruments in a research report on Wednesday, October 25th. Fifteen analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $109.65.

In related news, COO Brian T. Crutcher sold 267,201 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $111.08, for a total transaction of $29,680,687.08. Following the sale, the chief operating officer now owns 246,961 shares in the company, valued at $27,432,427.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Richard K. Templeton sold 43,935 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $109.44, for a total transaction of $4,808,246.40. Following the sale, the chairman now owns 798,812 shares in the company, valued at approximately $87,421,985.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 757,632 shares of company stock worth $83,306,399. 0.96% of the stock is owned by company insiders.

Texas Instruments Incorporated (NASDAQ TXN) opened at $103.66 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.00 and a current ratio of 3.87. Texas Instruments Incorporated has a 12-month low of $75.92 and a 12-month high of $120.75. The company has a market cap of $103,769.67, a PE ratio of 28.79, a PEG ratio of 2.21 and a beta of 1.24.

Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, January 23rd. The semiconductor company reported $1.09 EPS for the quarter, hitting the consensus estimate of $1.09. The business had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Texas Instruments had a net margin of 24.61% and a return on equity of 40.83%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 earnings per share. research analysts forecast that Texas Instruments Incorporated will post 4.97 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 12th. Investors of record on Wednesday, January 31st were paid a dividend of $0.62 per share. The ex-dividend date was Tuesday, January 30th. This represents a $2.48 annualized dividend and a yield of 2.39%. Texas Instruments’s dividend payout ratio (DPR) is 68.89%.

ILLEGAL ACTIVITY NOTICE: This report was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this report on another website, it was copied illegally and reposted in violation of US & international trademark & copyright legislation. The original version of this report can be accessed at https://www.dispatchtribunal.com/2018/02/22/estabrook-capital-management-decreases-position-in-texas-instruments-incorporated-txn.html.

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.

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

Receive News & Ratings for Texas Instruments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Texas Instruments and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply