Public Employees Retirement Association of Colorado decreased its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 3.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 176,643 shares of the semiconductor company’s stock after selling 7,196 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Texas Instruments were worth $15,834,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. American Beacon Advisors Inc. bought a new stake in Texas Instruments in the 1st quarter valued at about $101,000. Patriot Financial Group Insurance Agency LLC boosted its holdings in Texas Instruments by 18.4% in the 2nd 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 period. ClariVest Asset Management LLC boosted its holdings in Texas Instruments by 8.4% in the 1st 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 period. Balentine LLC boosted its holdings in Texas Instruments by 6.5% in the 1st 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 period. Finally, MV Capital Management Inc. boosted its holdings in Texas Instruments by 7.6% in the 2nd 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 period. 84.22% of the stock is owned by institutional investors and hedge funds.
TXN has been the subject of a number of recent research reports. Barclays PLC cut their price objective on shares of Texas Instruments from $78.00 to $83.00 in a report on Wednesday, July 26th. UBS AG reissued a “buy” rating and issued a $93.00 price objective (up previously from $91.00) on shares of Texas Instruments in a report on Wednesday, July 26th. Citigroup Inc. boosted their price objective on shares of Texas Instruments from $87.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Drexel Hamilton boosted their price objective on shares of Texas Instruments from $93.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Finally, BidaskClub downgraded shares of Texas Instruments from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $93.85.
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Texas Instruments Incorporated (NASDAQ TXN) opened at $96.96 on Wednesday. The stock has a market cap of $95,628.94, a price-to-earnings ratio of 23.90, a P/E/G ratio of 2.34 and a beta of 1.28. Texas Instruments Incorporated has a 12 month low of $69.92 and a 12 month high of $99.05. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.96 and a current ratio of 3.89.
Texas Instruments (NASDAQ:TXN) last issued its earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.14. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.91 billion. Texas Instruments had a net margin of 29.98% and a return on equity of 38.88%. Texas Instruments’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 earnings per share. analysts predict that Texas Instruments Incorporated will post 4.33 EPS for the current year.
Texas Instruments declared that its board has authorized a share repurchase plan on Thursday, September 21st that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 74% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Monday, November 13th. Investors of record on Tuesday, October 31st were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Monday, October 30th. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.50. This represents a $2.48 annualized dividend and a yield of 2.56%. Texas Instruments’s dividend payout ratio is currently 57.94%.
In related news, VP Darla H. Whitaker sold 118,799 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $96.24, for a total transaction of $11,433,215.76. Following the transaction, the vice president now directly owns 123,993 shares of the company’s stock, valued at $11,933,086.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Brian T. Crutcher sold 68,687 shares of the stock in a transaction on Friday, October 27th. The stock was sold at an average price of $96.10, for a total transaction of $6,600,820.70. Following the transaction, the chief operating officer now directly owns 346,428 shares in the company, valued at $33,291,730.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,362,293 shares of company stock worth $131,754,396. 0.96% of the stock is 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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