Texas Instruments Incorporated (NASDAQ:TXN) Director Ralph W. Babb, Jr. sold 22,158 shares of Texas Instruments stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $96.51, for a total transaction of $2,138,468.58. Following the transaction, the director now directly owns 41,454 shares in the company, valued at approximately $4,000,725.54. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.14. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.91 billion. Texas Instruments had a return on equity of 38.88% and a net margin of 29.98%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the company posted $0.94 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 31st will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.56%. This is a boost from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, October 30th. Texas Instruments’s dividend payout ratio (DPR) is currently 57.94%.
Texas Instruments declared that its Board of Directors has approved a share buyback program on Thursday, September 21st that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 74% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
A number of institutional investors have recently made changes to their positions in TXN. American Beacon Advisors Inc. purchased a new position in shares of Texas Instruments during the first quarter valued at approximately $101,000. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Texas Instruments by 18.4% during 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 in the last quarter. MV Capital Management Inc. boosted its position in shares of Texas Instruments by 7.6% during 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 in the last quarter. ClariVest Asset Management LLC boosted its position in shares of Texas Instruments by 8.4% during 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 in the last quarter. Finally, Balentine LLC boosted its position in shares of Texas Instruments by 6.5% during 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 in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have commented on the stock. BMO Capital Markets restated an “outperform” rating on shares of Texas Instruments in a report on Tuesday, September 12th. BidaskClub upgraded shares of Texas Instruments from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 2nd. Jefferies Group LLC restated a “buy” rating on shares of Texas Instruments in a report on Monday, July 10th. Barclays PLC dropped their target price on shares of Texas Instruments from $78.00 to $83.00 in a report on Wednesday, July 26th. Finally, Citigroup Inc. raised their target price on shares of Texas Instruments from $87.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $93.85.
Texas Instruments Company 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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