Texas Instruments Incorporated (TXN) Stake Lessened by Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. trimmed its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 19.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,172 shares of the semiconductor company’s stock after selling 23,098 shares during the period. Oppenheimer & Co. Inc.’s holdings in Texas Instruments were worth $7,322,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in TXN. BlackRock Inc. lifted its holdings in Texas Instruments by 1,924.6% during the 1st quarter. BlackRock Inc. now owns 64,718,640 shares of the semiconductor company’s stock worth $5,213,733,000 after purchasing an additional 61,521,990 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Texas Instruments by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 79,646,537 shares of the semiconductor company’s stock worth $6,416,325,000 after purchasing an additional 3,551,400 shares during the last quarter. Waddell & Reed Financial Inc. lifted its holdings in Texas Instruments by 476.4% during the 1st quarter. Waddell & Reed Financial Inc. now owns 1,988,640 shares of the semiconductor company’s stock worth $160,205,000 after purchasing an additional 1,643,640 shares during the last quarter. Henderson Group PLC lifted its holdings in Texas Instruments by 1,054.2% during 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 last quarter. Finally, Janus Capital Management LLC lifted its holdings in Texas Instruments by 22.3% during the 1st quarter. Janus Capital Management LLC now owns 7,433,168 shares of the semiconductor company’s stock worth $598,816,000 after purchasing an additional 1,353,492 shares during the last quarter. 83.68% of the stock is owned by institutional investors.
Texas Instruments Incorporated (TXN) opened at 89.64 on Friday. Texas Instruments Incorporated has a one year low of $66.80 and a one year high of $89.89. The firm has a market capitalization of $88.75 billion, a P/E ratio of 22.42 and a beta of 1.20. The firm’s 50-day moving average price is $82.00 and its 200 day moving average price is $80.72.
Texas Instruments (NASDAQ:TXN) last released its earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.07. The business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Texas Instruments had a return on equity of 36.52% and a net margin of 28.68%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 earnings per share. On average, equities analysts anticipate that Texas Instruments Incorporated will post $4.13 earnings per share for the current fiscal year.
Texas Instruments declared that its Board of Directors has initiated a share buyback plan on Thursday, September 21st that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to repurchase up to 74% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st will be paid a dividend of $0.62 per share. This is a boost from Texas Instruments’s previous quarterly dividend of $0.50. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Monday, October 30th. Texas Instruments’s dividend payout ratio (DPR) is 50.51%.
Several analysts recently weighed in on TXN shares. Barclays PLC dropped their price target on Texas Instruments from $78.00 to $83.00 in a report on Wednesday, July 26th. UBS AG reissued a “buy” rating and set a $93.00 price target (up from $91.00) on shares of Texas Instruments in a report on Wednesday, July 26th. Jefferies Group LLC reissued a “buy” rating on shares of Texas Instruments in a report on Monday, July 10th. Citigroup Inc. lifted their price target on Texas Instruments from $87.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Finally, Drexel Hamilton lifted their price target on Texas Instruments from $93.00 to $95.00 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, thirteen have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $86.56.
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In other news, Director Robert E. Sanchez sold 26,905 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $81.48, for a total transaction of $2,192,219.40. Following the transaction, the director now directly owns 27,565 shares of the company’s stock, valued at $2,245,996.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Brian T. Crutcher sold 50,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $81.09, for a total value of $4,054,500.00. Following the transaction, the chief operating officer now directly owns 201,440 shares in the company, valued at $16,334,769.60. The disclosure for this sale can be found here. Insiders have sold 211,301 shares of company stock worth $17,259,256 over the last ninety days. Insiders own 0.96% of the company’s stock.
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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