First Dallas Securities Inc. decreased its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 15.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,024 shares of the semiconductor company’s stock after selling 750 shares during the quarter. First Dallas Securities Inc.’s holdings in Texas Instruments were worth $432,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of TXN. Charles Schwab Investment Advisory Inc. purchased a new position in Texas Instruments in the second quarter valued at about $282,741,000. FMR LLC grew its stake in Texas Instruments by 19.7% in the second quarter. FMR LLC now owns 12,907,773 shares of the semiconductor company’s stock valued at $1,423,082,000 after purchasing an additional 2,120,260 shares in the last quarter. Schroder Investment Management Group grew its stake in Texas Instruments by 39.1% in the second quarter. Schroder Investment Management Group now owns 3,278,298 shares of the semiconductor company’s stock valued at $357,662,000 after purchasing an additional 921,101 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Texas Instruments by 3.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 23,763,599 shares of the semiconductor company’s stock valued at $2,549,597,000 after purchasing an additional 811,931 shares in the last quarter. Finally, TD Asset Management Inc. grew its stake in Texas Instruments by 45.8% in the second quarter. TD Asset Management Inc. now owns 2,544,194 shares of the semiconductor company’s stock valued at $280,497,000 after purchasing an additional 798,995 shares in the last quarter. Institutional investors and hedge funds own 84.21% of the company’s stock.
In other Texas Instruments news, Director Martin S. Craighead acquired 10,900 shares of the business’s stock in a transaction that occurred on Thursday, October 25th. The stock was acquired at an average price of $91.70 per share, with a total value of $999,530.00. Following the transaction, the director now owns 13,100 shares of the company’s stock, valued at $1,201,270. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.84% of the stock is currently owned by insiders.
NASDAQ TXN opened at $93.66 on Thursday. Texas Instruments Incorporated has a twelve month low of $87.90 and a twelve month high of $120.75. The company has a quick ratio of 3.09, a current ratio of 3.97 and a debt-to-equity ratio of 0.41. The stock has a market cap of $90.40 billion, a P/E ratio of 21.93, a price-to-earnings-growth ratio of 1.81 and a beta of 1.19.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings data on Tuesday, October 23rd. The semiconductor company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.05. Texas Instruments had a return on equity of 50.03% and a net margin of 29.62%. The business had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the previous year, the firm earned $1.26 EPS. The firm’s revenue was up 3.5% compared to the same quarter last year. As a group, analysts expect that Texas Instruments Incorporated will post 5.42 EPS for the current year.
Texas Instruments declared that its board has authorized a stock repurchase program on Thursday, September 20th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 11.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Investors of record on Wednesday, October 31st will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Tuesday, October 30th. This is a boost from Texas Instruments’s previous quarterly dividend of $0.62. Texas Instruments’s payout ratio is currently 71.96%.
TXN has been the topic of a number of recent research reports. Royal Bank of Canada boosted their target price on Texas Instruments from $125.00 to $127.00 and gave the company a “$115.68” rating in a research note on Wednesday, July 18th. Bank of America boosted their target price on Texas Instruments from $138.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, July 25th. Sanford C. Bernstein set a $130.00 price target on Texas Instruments and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Jefferies Financial Group reiterated a “buy” rating and set a $157.00 price target on shares of Texas Instruments in a research note on Wednesday, July 25th. Finally, Longbow Research upgraded Texas Instruments from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 11th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $117.11.
About Texas Instruments
Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. It operates in two segments, Analog and Embedded Processing. The Analog segment offers power products to manage power requirements in various levels using battery management solutions, portable components, power supply controls, point-of-load products, switches and interfaces, integrated protection devices, high-voltage products, and mobile lighting and display products.
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