Pitcairn Co. trimmed its position in Texas Instruments Incorporated (NASDAQ:TXN) by 5.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,046 shares of the semiconductor company’s stock after selling 1,017 shares during the quarter. Pitcairn Co.’s holdings in Texas Instruments were worth $1,936,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Advisory Inc. purchased a new position in Texas Instruments during the second quarter valued at approximately $282,741,000. FMR LLC raised its position in Texas Instruments by 19.7% during the second quarter. FMR LLC now owns 12,907,773 shares of the semiconductor company’s stock valued at $1,423,082,000 after acquiring an additional 2,120,260 shares in the last quarter. Schroder Investment Management Group raised its position in Texas Instruments by 39.1% during 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 acquiring an additional 921,101 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Texas Instruments by 3.5% during 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 acquiring an additional 811,931 shares in the last quarter. Finally, TD Asset Management Inc. raised its position in Texas Instruments by 45.8% during 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 acquiring an additional 798,995 shares in the last quarter. Hedge funds and other institutional investors own 84.41% of the company’s stock.
Shares of TXN opened at $95.06 on Monday. 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 Incorporated has a 12 month low of $87.90 and a 12 month high of $120.75. The company has a market capitalization of $92.42 billion, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 1.85 and a beta of 1.28.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings data on Tuesday, October 23rd. The semiconductor company reported $1.58 EPS for the quarter, beating 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 company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the company earned $1.26 earnings per share. Texas Instruments’s quarterly revenue was up 3.5% compared to the same quarter last year. Research analysts anticipate that Texas Instruments Incorporated will post 5.42 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Wednesday, October 31st will be paid a $0.77 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.62. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.24%. Texas Instruments’s payout ratio is currently 71.96%.
Texas Instruments announced that its Board of Directors has initiated a share buyback program on Thursday, September 20th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 11.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.
TXN has been the subject of several recent research reports. B. Riley reduced their price target on Texas Instruments from $123.00 to $110.00 and set a “neutral” rating for the company in a research report on Monday, October 22nd. Royal Bank of Canada reduced their price target on Texas Instruments to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, October 24th. Bank of America lifted their price target on Texas Instruments from $138.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. Zacks Investment Research cut Texas Instruments from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Finally, Barclays reduced their price target on Texas Instruments from $120.00 to $105.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 23rd. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $117.11.
In other news, Director Martin S. Craighead purchased 10,900 shares of the stock in a transaction dated Thursday, October 25th. The shares were purchased at an average cost of $91.70 per share, with a total value of $999,530.00. Following the completion of the purchase, the director now directly owns 13,100 shares of the company’s stock, valued at approximately $1,201,270. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Kyle M. Flessner sold 16,088 shares of Texas Instruments stock in a transaction that occurred on 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 in the company, valued at $4,067,380. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.
Texas Instruments Company Profile
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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