Virtu Financial LLC lowered its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 48.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,752 shares of the semiconductor company’s stock after selling 5,400 shares during the period. Virtu Financial LLC’s holdings in Texas Instruments were worth $617,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in TXN. Bronfman E.L. Rothschild L.P. grew its stake in Texas Instruments by 7.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 7,372 shares of the semiconductor company’s stock valued at $813,000 after purchasing an additional 486 shares during the last quarter. Merit Financial Group LLC grew its stake in Texas Instruments by 13.7% in the second quarter. Merit Financial Group LLC now owns 4,063 shares of the semiconductor company’s stock valued at $448,000 after purchasing an additional 488 shares during the last quarter. Hartland & Co. LLC grew its stake in Texas Instruments by 3.5% in the second quarter. Hartland & Co. LLC now owns 14,844 shares of the semiconductor company’s stock valued at $1,636,000 after purchasing an additional 500 shares during the last quarter. Gould Asset Management LLC CA grew its stake in Texas Instruments by 20.2% in the second quarter. Gould Asset Management LLC CA now owns 2,970 shares of the semiconductor company’s stock valued at $327,000 after purchasing an additional 500 shares during the last quarter. Finally, Wilkins Investment Counsel Inc. grew its stake in Texas Instruments by 3.7% in the second quarter. Wilkins Investment Counsel Inc. now owns 14,080 shares of the semiconductor company’s stock valued at $1,552,000 after purchasing an additional 505 shares during the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.
Shares of NASDAQ TXN opened at $92.38 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.97 and a quick ratio of 3.09. The stock has a market capitalization of $93.48 billion, a price-to-earnings ratio of 21.58, a price-to-earnings-growth ratio of 1.89 and a beta of 1.29. Texas Instruments Incorporated has a fifty-two week low of $87.90 and a fifty-two week high of $120.75.
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 consensus estimate of $1.53 by $0.05. The business had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.30 billion. Texas Instruments had a return on equity of 50.03% and a net margin of 29.62%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the company earned $1.26 earnings per share. On average, equities analysts anticipate that Texas Instruments Incorporated will post 5.42 earnings per share for the current year.
Texas Instruments announced that its board has approved a share buyback program on Thursday, September 20th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the semiconductor company to buy up to 11.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Monday, November 19th. Investors of record on Wednesday, October 31st were issued a dividend of $0.77 per share. This is an increase from Texas Instruments’s previous quarterly dividend of $0.62. The ex-dividend date was Tuesday, October 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.33%. Texas Instruments’s payout ratio is 71.96%.
In related 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 completion of the sale, the insider now owns 43,270 shares of the company’s stock, valued at $4,067,380. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin S. Craighead bought 10,900 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the director now directly owns 13,100 shares of the company’s stock, valued at $1,201,270. The disclosure for this purchase can be found here. Insiders own 0.84% of the company’s stock.
Several equities analysts have issued reports on the company. Zacks Investment Research upgraded Texas Instruments from a “sell” rating to a “hold” rating in a research note on Thursday, October 25th. Sanford C. Bernstein reiterated a “buy” rating and issued a $115.00 target price on shares of Texas Instruments in a research note on Wednesday, October 24th. JPMorgan Chase & Co. cut their target price on Texas Instruments from $134.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 24th. Loop Capital cut their target price on Texas Instruments to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, October 24th. Finally, Barclays cut their target price on Texas Instruments from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 23rd. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target 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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