Marathon Asset Management LLP lifted its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 6.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,140,527 shares of the semiconductor company’s stock after purchasing an additional 72,790 shares during the quarter. Texas Instruments comprises about 1.5% of Marathon Asset Management LLP’s investment portfolio, making the stock its 19th biggest position. Marathon Asset Management LLP owned about 0.12% of Texas Instruments worth $122,367,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Bank of The West boosted its holdings in Texas Instruments by 4.6% in the second quarter. Bank of The West now owns 10,401 shares of the semiconductor company’s stock valued at $1,146,000 after acquiring an additional 453 shares during the last quarter. Buckley Wealth Management LLC raised its position in Texas Instruments by 3.5% in the second quarter. Buckley Wealth Management LLC now owns 13,732 shares of the semiconductor company’s stock valued at $1,514,000 after purchasing an additional 461 shares during the period. D.B. Root & Company LLC raised its position in Texas Instruments by 8.9% in the second quarter. D.B. Root & Company LLC now owns 5,701 shares of the semiconductor company’s stock valued at $629,000 after purchasing an additional 466 shares during the period. First National Bank of Mount Dora Trust Investment Services raised its position in Texas Instruments by 0.7% in the second quarter. First National Bank of Mount Dora Trust Investment Services now owns 64,132 shares of the semiconductor company’s stock valued at $7,071,000 after purchasing an additional 474 shares during the period. Finally, Northstar Investment Advisors LLC raised its position in Texas Instruments by 0.5% in the second quarter. Northstar Investment Advisors LLC now owns 96,683 shares of the semiconductor company’s stock valued at $10,657,000 after purchasing an additional 479 shares during the period. Institutional investors and hedge funds own 84.41% of the company’s stock.
Shares of NASDAQ TXN opened at $95.06 on Monday. Texas Instruments Incorporated has a 1 year low of $87.90 and a 1 year high of $120.75. The stock has a market cap of $92.42 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 1.85 and a beta of 1.28. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.09 and a current ratio of 3.97.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings data 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. The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.30 billion. Texas Instruments had a return on equity of 50.03% and a net margin of 29.62%. Texas Instruments’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 earnings per share. Equities research analysts anticipate that Texas Instruments Incorporated will post 5.42 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Investors of record on Wednesday, October 31st will be issued a $0.77 dividend. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.62. This represents a $3.08 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Tuesday, October 30th. Texas Instruments’s payout ratio is currently 71.96%.
Texas Instruments announced that its Board of Directors has authorized a stock buyback plan on Thursday, September 20th that permits the company to repurchase $12.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 11.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Several research analysts have commented on the company. Zacks Investment Research raised 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 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 Texas Instruments and gave the company a “hold” rating in a research report on Wednesday, October 24th. Nomura cut their price objective on 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 Texas Instruments to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 24th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have given a buy rating to the company’s stock. Texas Instruments presently has an average rating of “Hold” and an average target price of $117.11.
In related news, insider Kyle M. Flessner sold 16,088 shares of the business’s stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $94.00, for a total value of $1,512,272.00. Following the completion of the sale, the insider now directly owns 43,270 shares of the company’s stock, valued at $4,067,380. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Martin S. Craighead acquired 10,900 shares of the stock in a transaction that occurred on Thursday, October 25th. The stock was purchased at an average cost of $91.70 per share, with a total value of $999,530.00. Following the completion of the acquisition, the director now owns 13,100 shares of the company’s stock, valued at $1,201,270. The disclosure for this purchase can be found here. 0.84% of the stock is owned by insiders.
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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