SPC Financial Inc. Boosts Stake in Texas Instruments Incorporated (TXN)
SPC Financial Inc. raised its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 5.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 23,195 shares of the semiconductor company’s stock after buying an additional 1,240 shares during the period. SPC Financial Inc.’s holdings in Texas Instruments were worth $1,784,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in TXN. American Beacon Advisors Inc. purchased a new position in Texas Instruments during the first quarter worth $101,000. ClariVest Asset Management LLC boosted its position in Texas Instruments by 8.4% in the first quarter. ClariVest Asset Management LLC now owns 1,296 shares of the semiconductor company’s stock worth $104,000 after buying an additional 100 shares during the period. Balentine LLC boosted its position in Texas Instruments by 6.5% in the first quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock worth $106,000 after buying an additional 80 shares during the period. TCI Wealth Advisors Inc. boosted its position in Texas Instruments by 33.2% in the first quarter. TCI Wealth Advisors Inc. now owns 1,335 shares of the semiconductor company’s stock worth $108,000 after buying an additional 333 shares during the period. Finally, American National Bank boosted its position in Texas Instruments by 2,470.9% in the second quarter. American National Bank now owns 1,414 shares of the semiconductor company’s stock worth $109,000 after buying an additional 1,359 shares during the period. Institutional investors own 84.71% of the company’s stock.
Texas Instruments Incorporated (NASDAQ:TXN) traded down 2.03% during mid-day trading on Thursday, hitting $80.79. 1,466,037 shares of the company’s stock traded hands. Texas Instruments Incorporated has a one year low of $66.30 and a one year high of $84.65. The firm’s 50-day moving average price is $80.57 and its 200-day moving average price is $79.76. The stock has a market cap of $79.99 billion, a PE ratio of 20.21 and a beta of 1.21.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings data on Tuesday, July 25th. The semiconductor company reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.07. Texas Instruments had a return on equity of 36.52% and a net margin of 28.68%. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the previous year, the company posted $0.76 earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, analysts forecast that Texas Instruments Incorporated will post $4.13 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Thursday, July 27th. Texas Instruments’s dividend payout ratio is presently 50.51%.
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TXN has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Texas Instruments from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. Morgan Stanley reiterated an “equal weight” rating and set a $83.00 price objective (up previously from $78.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. SunTrust Banks, Inc. reiterated a “hold” rating and set a $86.00 price objective (up previously from $84.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. Cowen and Company boosted their price objective on shares of Texas Instruments from $77.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, April 26th. Finally, Barclays PLC boosted their price objective on shares of Texas Instruments from $77.00 to $83.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Texas Instruments currently has an average rating of “Buy” and a consensus target price of $85.96.
In related news, insider Ellen Barker sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $81.87, for a total transaction of $1,228,050.00. Following the completion of the sale, the insider now owns 45,697 shares in the company, valued at $3,741,213.39. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Brian T. Crutcher sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $81.09, for a total value of $4,054,500.00. Following the sale, the chief operating officer now owns 201,440 shares of the company’s stock, valued at approximately $16,334,769.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 211,301 shares of company stock valued at $17,259,256. Corporate insiders own 0.96% 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. As of December 31, 2016, the Company had design, manufacturing or sales operations in more than 30 countries.
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