Decatur Capital Management Inc. reduced its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 19.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,161 shares of the semiconductor company’s stock after selling 21,425 shares during the quarter. Texas Instruments comprises about 2.1% of Decatur Capital Management Inc.’s investment portfolio, making the stock its 15th largest holding. Decatur Capital Management Inc.’s holdings in Texas Instruments were worth $9,244,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of TXN. Kiley Juergens Wealth Management LLC bought a new stake in Texas Instruments in the second quarter worth about $100,000. Centaurus Financial Inc. bought a new stake in Texas Instruments in the second quarter worth about $101,000. Baker Ellis Asset Management LLC bought a new stake in Texas Instruments in the second quarter worth about $105,000. Kwmg LLC bought a new stake in Texas Instruments in the second quarter worth about $107,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in Texas Instruments in the third quarter worth about $107,000. Institutional investors and hedge funds own 84.41% of the company’s stock.
Shares of TXN opened at $97.14 on Wednesday. The stock has a market capitalization of $92.42 billion, a P/E ratio of 22.70, a P/E/G ratio of 1.85 and a beta of 1.28. Texas Instruments Incorporated has a 1-year low of $87.90 and a 1-year high of $120.75. 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 issued its quarterly earnings results on Tuesday, October 23rd. The semiconductor company reported $1.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.05. The firm had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Texas Instruments had a return on equity of 50.03% and a net margin of 29.62%. Texas Instruments’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business posted $1.26 EPS. As a group, equities analysts forecast that Texas Instruments Incorporated will post 5.42 EPS for the current year.
Texas Instruments declared that its board has authorized a stock buyback plan on Thursday, September 20th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 11.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 19th. Investors of record on Wednesday, October 31st will be paid a $0.77 dividend. The ex-dividend date is Tuesday, October 30th. This represents a $3.08 dividend on an annualized basis and a yield of 3.17%. 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%.
In other Texas Instruments news, insider Kyle M. Flessner sold 16,088 shares of Texas Instruments stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $94.00, for a total transaction of $1,512,272.00. Following the transaction, the insider now owns 43,270 shares of the company’s stock, valued at approximately $4,067,380. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Martin S. Craighead bought 10,900 shares of the stock in a transaction on Thursday, October 25th. The shares were acquired at an average cost of $91.70 per share, for a total transaction of $999,530.00. Following the purchase, the director now owns 13,100 shares in the company, valued at $1,201,270. The disclosure for this purchase can be found here. Company insiders own 0.84% of the company’s stock.
TXN has been the topic of several research reports. Royal Bank of Canada boosted their price target on shares of Texas Instruments from $125.00 to $127.00 and gave the stock a “$115.68” rating in a research report on Wednesday, July 18th. Bank of America boosted their price target on shares of Texas Instruments from $138.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Sanford C. Bernstein set a $130.00 price target on shares of Texas Instruments and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Jefferies Financial Group reiterated a “buy” rating and issued a $157.00 price target on shares of Texas Instruments in a research report on Wednesday, July 25th. Finally, Longbow Research upgraded shares of Texas Instruments from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 11th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have given a buy rating to the company. Texas Instruments currently has an average rating of “Hold” and a consensus target price of $117.11.
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Texas Instruments 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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