Boys Arnold & Co. Inc. grew its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 1.8% in the third quarter, HoldingsChannel.com reports. The fund owned 38,985 shares of the semiconductor company’s stock after acquiring an additional 687 shares during the quarter. Boys Arnold & Co. Inc.’s holdings in Texas Instruments were worth $4,200,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of TXN. Kiley Juergens Wealth Management LLC bought a new position in shares of Texas Instruments during the 2nd quarter worth about $100,000. Centaurus Financial Inc. bought a new position in shares of Texas Instruments during the 2nd quarter worth about $101,000. Baker Ellis Asset Management LLC bought a new position in shares of Texas Instruments during the 2nd quarter worth about $105,000. Kwmg LLC bought a new position in shares of Texas Instruments during the 2nd quarter worth about $107,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of Texas Instruments during the 3rd quarter worth about $107,000. Hedge funds and other institutional investors own 84.21% of the company’s stock.
In other news, Director Martin S. Craighead bought 10,900 shares of the company’s stock in a transaction on Thursday, October 25th. The shares were purchased at an average price of $91.70 per share, with a total value of $999,530.00. Following the transaction, the director now directly owns 13,100 shares in the company, valued at $1,201,270. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.84% of the stock is owned by company insiders.
Shares of NASDAQ TXN opened at $97.60 on Friday. Texas Instruments Incorporated has a fifty-two week low of $87.90 and a fifty-two week high of $120.75. The stock has a market capitalization of $90.40 billion, a P/E ratio of 22.80, a price-to-earnings-growth ratio of 1.81 and a beta of 1.19. The company has a current ratio of 3.97, a quick ratio of 3.09 and a debt-to-equity ratio of 0.41.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, October 23rd. The semiconductor company reported $1.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.05. Texas Instruments had a net margin of 29.62% and a return on equity of 50.03%. The business had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter last year, the firm earned $1.26 EPS. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, sell-side analysts expect that Texas Instruments Incorporated will post 5.42 earnings per share for the current year.
Texas Instruments declared that its board has approved a stock buyback program on Thursday, September 20th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 11.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Wednesday, October 31st will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $3.08 annualized dividend and a dividend yield of 3.16%. This is a boost from Texas Instruments’s previous quarterly dividend of $0.62. Texas Instruments’s dividend payout ratio (DPR) is currently 71.96%.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Texas Instruments from a “sell” rating to a “hold” rating in a research report on Thursday, October 25th. UBS Group cut their price objective on shares of Texas Instruments from $93.00 to $90.00 and set a “sell” rating on the stock in a research report on Wednesday, October 24th. Macquarie set a $100.00 price objective on shares of Texas Instruments and gave the stock a “hold” rating in a research report on Wednesday, October 24th. Nomura cut their price objective on shares of Texas Instruments from $115.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 24th. Finally, Royal Bank of Canada cut their price objective on shares of Texas Instruments to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 24th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target 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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