Texas Instruments Incorporated (TXN) Position Trimmed by Pacad Investment Ltd.
Pacad Investment Ltd. reduced its position in Texas Instruments Incorporated (NASDAQ:TXN) by 4.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,168 shares of the semiconductor company’s stock after selling 541 shares during the quarter. Pacad Investment Ltd.’s holdings in Texas Instruments were worth $859,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of TXN. Waldron LP purchased a new stake in Texas Instruments in the 1st quarter worth about $423,000. Henderson Group PLC raised its position in Texas Instruments by 1,054.2% in the 1st quarter. Henderson Group PLC now owns 1,498,951 shares of the semiconductor company’s stock worth $120,763,000 after purchasing an additional 1,369,077 shares during the period. HPM Partners LLC purchased a new stake in Texas Instruments in the 1st quarter worth about $2,249,000. Pinnacle Financial Partners Inc. raised its position in Texas Instruments by 4.1% in the 1st quarter. Pinnacle Financial Partners Inc. now owns 9,193 shares of the semiconductor company’s stock worth $740,000 after purchasing an additional 365 shares during the period. Finally, Point View Wealth Management Inc. purchased a new stake in Texas Instruments in the 1st quarter worth about $203,000. 83.68% of the stock is currently owned by institutional investors.
Shares of Texas Instruments Incorporated (NASDAQ:TXN) opened at 89.64 on Friday. The firm has a market capitalization of $88.75 billion, a P/E ratio of 22.42 and a beta of 1.20. The stock’s 50 day moving average is $82.00 and its 200 day moving average is $80.72. Texas Instruments Incorporated has a 1-year low of $66.80 and a 1-year high of $89.89.
Texas Instruments (NASDAQ:TXN) last issued its earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.07. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the prior year, the business posted $0.76 EPS. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities analysts predict that Texas Instruments Incorporated will post $4.13 earnings per share for the current year.
Texas Instruments declared that its Board of Directors has initiated a stock repurchase plan on Thursday, September 21st that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 74% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st will be issued a $0.62 dividend. 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. This represents a $2.48 annualized dividend and a dividend yield of 2.77%. Texas Instruments’s dividend payout ratio is presently 50.51%.
TXN has been the topic of a number of recent analyst reports. Barclays PLC reduced their price objective on shares of Texas Instruments from $78.00 to $83.00 in a research report on Wednesday, July 26th. UBS AG reissued a “buy” rating and issued a $93.00 price objective (up from $91.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. Jefferies Group LLC reissued a “buy” rating on shares of Texas Instruments in a research report on Monday, July 10th. Citigroup Inc. increased their price objective on shares of Texas Instruments from $87.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Finally, Drexel Hamilton increased their price objective on shares of Texas Instruments from $93.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $86.56.
In other news, Director Carrie Smith Cox sold 14,000 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $82.25, for a total value of $1,151,500.00. Following the completion of the transaction, the director now owns 38,435 shares in the company, valued at approximately $3,161,278.75. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Brian T. Crutcher sold 50,000 shares of the company’s stock in a transaction on 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 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. In the last 90 days, insiders sold 211,301 shares of company stock valued at $17,259,256. Company insiders own 0.96% of the company’s stock.
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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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