Highland Capital Management LLC bought a new stake in Texas Instruments Incorporated (NASDAQ:TXN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,697 shares of the semiconductor company’s stock, valued at approximately $977,000.
Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Texas Instruments by 4.7% in the first quarter. Vanguard Group Inc. now owns 79,646,537 shares of the semiconductor company’s stock valued at $6,416,325,000 after buying an additional 3,551,400 shares during the last quarter. BlackRock Inc. raised its stake in Texas Instruments by 1,924.6% in the first quarter. BlackRock Inc. now owns 64,718,640 shares of the semiconductor company’s stock valued at $5,213,733,000 after buying an additional 61,521,990 shares during the last quarter. State Street Corp raised its stake in Texas Instruments by 1.4% in the first quarter. State Street Corp now owns 40,943,910 shares of the semiconductor company’s stock valued at $3,298,445,000 after buying an additional 573,645 shares during the last quarter. FMR LLC raised its stake in Texas Instruments by 12.3% in the first quarter. FMR LLC now owns 12,172,327 shares of the semiconductor company’s stock valued at $980,603,000 after buying an additional 1,328,606 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Texas Instruments by 9.6% in the first quarter. Geode Capital Management LLC now owns 11,181,980 shares of the semiconductor company’s stock valued at $899,705,000 after buying an additional 975,010 shares during the last quarter. 84.64% of the stock is currently owned by institutional investors and hedge funds.
Texas Instruments Incorporated (NASDAQ TXN) traded down 0.21% during trading on Wednesday, hitting $82.28. 4,274,007 shares of the company’s stock traded hands. Texas Instruments Incorporated has a 12-month low of $66.30 and a 12-month high of $84.65. The stock has a market cap of $81.60 billion, a P/E ratio of 20.45 and a beta of 1.21. The firm’s 50-day moving average price is $79.99 and its 200 day moving average price is $79.41.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.07. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.57 billion. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. Texas Instruments’s revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 earnings per share. Analysts anticipate that Texas Instruments Incorporated will post $4.13 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 31st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Thursday, July 27th. Texas Instruments’s dividend payout ratio is currently 50.51%.
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A number of research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Texas Instruments from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $83.00 price target (up from $78.00) on shares of Texas Instruments in a research note on Wednesday, July 26th. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $86.00 price target (up from $84.00) on shares of Texas Instruments in a research note on Wednesday, July 26th. Cowen and Company raised their price target on shares of Texas Instruments from $77.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, April 26th. Finally, Barclays PLC raised their price target on shares of Texas Instruments from $77.00 to $83.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $85.96.
In other news, Director Robert E. Sanchez sold 26,905 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $81.48, for a total value of $2,192,219.40. Following the completion of the sale, the director now owns 27,565 shares of the company’s stock, valued at $2,245,996.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Niels Anderskouv sold 32,420 shares of the stock in a transaction on Friday, May 12th. The stock was sold at an average price of $80.61, for a total transaction of $2,613,376.20. Following the completion of the sale, the insider now directly owns 102,028 shares of the company’s stock, valued at approximately $8,224,477.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 257,685 shares of company stock worth $20,816,827. 0.96% of the stock is currently owned by insiders.
About Texas Instruments
Texas Instruments Incorporated designs, makes and sells semiconductors to electronics designers and manufacturers across the world. The Company operates through two segments: Analog and Embedded Processing. As of December 31, 2016, the Company had design, manufacturing or sales operations in more than 30 countries.
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