Canandaigua National Bank & Trust Co. Acquires 87 Shares of Texas Instruments Incorporated (TXN)
Canandaigua National Bank & Trust Co. boosted its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 0.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,346 shares of the company’s stock after buying an additional 87 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Texas Instruments were worth $1,638,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in TXN. FMR LLC increased its stake in shares of Texas Instruments by 56.6% in the second quarter. FMR LLC now owns 9,176,451 shares of the company’s stock valued at $574,905,000 after buying an additional 3,317,368 shares in the last quarter. Boston Partners increased its stake in shares of Texas Instruments by 66.3% in the second quarter. Boston Partners now owns 7,551,127 shares of the company’s stock valued at $473,079,000 after buying an additional 3,009,699 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Texas Instruments by 3.2% in the second quarter. Vanguard Group Inc. now owns 72,913,570 shares of the company’s stock valued at $4,568,036,000 after buying an additional 2,282,169 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Texas Instruments by 105.6% in the second quarter. Alliancebernstein L.P. now owns 4,270,433 shares of the company’s stock valued at $267,543,000 after buying an additional 2,193,369 shares in the last quarter. Finally, Davis Selected Advisers increased its stake in shares of Texas Instruments by 22.2% in the second quarter. Davis Selected Advisers now owns 9,051,716 shares of the company’s stock valued at $567,090,000 after buying an additional 1,646,483 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.
Shares of Texas Instruments Incorporated (NASDAQ:TXN) traded up 0.13% during mid-day trading on Monday, hitting $74.53. 4,512,018 shares of the stock were exchanged. The stock’s 50 day moving average is $70.48 and its 200 day moving average is $66.98. The firm has a market cap of $74.49 billion, a P/E ratio of 23.66 and a beta of 1.28. Texas Instruments Incorporated has a 12 month low of $46.73 and a 12 month high of $74.89.
Texas Instruments (NASDAQ:TXN) last posted its earnings results on Wednesday, October 26th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.08. The firm earned $3.68 billion during the quarter. Texas Instruments had a return on equity of 31.60% and a net margin of 24.73%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.76 earnings per share. Analysts expect that Texas Instruments Incorporated will post $3.16 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, November 21st. Stockholders of record on Monday, November 7th were given a dividend of $0.50 per share. This is an increase from Texas Instruments’s previous quarterly dividend of $0.38. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Thursday, November 3rd. Texas Instruments’s dividend payout ratio is currently 63.49%.
Several analysts have recently commented on TXN shares. B. Riley downgraded shares of Texas Instruments from a “buy” rating to a “neutral” rating in a report on Tuesday, October 11th. RBC Capital Markets restated an “outperform” rating and set a $80.00 price objective on shares of Texas Instruments in a report on Tuesday, August 30th. Sanford C. Bernstein upgraded shares of Texas Instruments from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $70.00 to $80.00 in a report on Monday, September 12th. Zacks Investment Research downgraded shares of Texas Instruments from a “buy” rating to a “hold” rating in a report on Wednesday, October 19th. Finally, Exane BNP Paribas upgraded shares of Texas Instruments from an “underperform” rating to a “neutral” rating in a report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $70.43.
In other news, insider Brian T. Crutcher sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $70.69, for a total transaction of $1,060,350.00. Following the completion of the transaction, the insider now directly owns 309,250 shares in the company, valued at approximately $21,860,882.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.02% of the company’s stock.
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. Its Analog segment’s product line includes High Volume Analog & Logic (HVAL), Power Management (Power), High Performance Analog (HPA) and Silicon Valley Analog (SVA).
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