Bayesian Capital Management LP bought a new stake in Texas Instruments Incorporated (NASDAQ:TXN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,600 shares of the semiconductor company’s stock, valued at approximately $431,000.
Other institutional investors have also recently bought and sold shares of the company. American Beacon Advisors Inc. acquired a new position in shares of Texas Instruments in the first quarter valued at approximately $101,000. Patriot Financial Group Insurance Agency LLC grew its position in shares of Texas Instruments by 18.4% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock valued at $101,000 after purchasing an additional 200 shares during the last quarter. ClariVest Asset Management LLC grew its position in shares of Texas Instruments by 8.4% in the first quarter. ClariVest Asset Management LLC now owns 1,296 shares of the semiconductor company’s stock valued at $104,000 after purchasing an additional 100 shares during the last quarter. Balentine LLC grew its position in shares of Texas Instruments by 6.5% in the first quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 80 shares during the last quarter. Finally, MV Capital Management Inc. grew its position in shares of Texas Instruments by 7.6% in the second quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock valued at $102,000 after purchasing an additional 93 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.
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Texas Instruments Incorporated (TXN) opened at 95.18 on Friday. Texas Instruments Incorporated has a 12 month low of $66.80 and a 12 month high of $95.40. The company has a market capitalization of $94.23 billion, a price-to-earnings ratio of 23.81 and a beta of 1.24. The company’s 50-day moving average price is $88.24 and its 200 day moving average price is $82.41.
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 consensus estimate of $0.96 by $0.07. The business had revenue of $3.69 billion during 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%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.76 earnings per share. Analysts forecast that Texas Instruments Incorporated will post $4.13 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st will be paid a $0.62 dividend. The ex-dividend date of this dividend is Monday, October 30th. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50. This represents a $2.48 annualized dividend and a yield of 2.61%. Texas Instruments’s payout ratio is currently 50.51%.
Texas Instruments declared that its Board of Directors has approved a stock repurchase plan on Thursday, September 21st that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor company to purchase up to 74% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
In other news, COO Brian T. Crutcher sold 50,000 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $81.09, for a total transaction of $4,054,500.00. Following the completion of the transaction, the chief operating officer now directly owns 201,440 shares of the company’s stock, valued at $16,334,769.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert E. Sanchez sold 26,905 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $81.48, for a total transaction of $2,192,219.40. Following the transaction, the director now directly owns 27,565 shares of the company’s stock, valued at $2,245,996.20. The disclosure for this sale can be found here. Insiders sold 211,301 shares of company stock valued at $17,259,256 over the last three months. 0.96% of the stock is currently owned by insiders.
Several equities analysts have recently commented on TXN shares. BidaskClub raised Texas Instruments from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 2nd. Zacks Investment Research downgraded Texas Instruments from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Barclays PLC upped their target price on Texas Instruments from $85.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday. Royal Bank Of Canada upped their target price on Texas Instruments from $95.00 to $96.00 and gave the company an “outperform” rating in a research report on Wednesday, July 26th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $85.00 target price on shares of Texas Instruments in a research report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. Texas Instruments presently has a consensus rating of “Buy” and an average price target of $87.44.
Texas Instruments Profile
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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