Thompson Siegel & Walmsley LLC Has $295,000 Stake in Texas Instruments Incorporated (TXN)
Thompson Siegel & Walmsley LLC increased its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 16.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,831 shares of the semiconductor company’s stock after acquiring an additional 529 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Texas Instruments were worth $295,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of TXN. American Beacon Advisors Inc. bought a new position in shares of Texas Instruments in the first quarter worth about $101,000. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Texas Instruments by 18.4% in the second 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 in the last quarter. MV Capital Management Inc. increased its holdings in shares of Texas Instruments by 7.6% in the second 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 in the last quarter. ClariVest Asset Management LLC increased its holdings in shares of Texas Instruments by 8.4% in the first 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 in the last quarter. Finally, Balentine LLC increased its holdings in shares of Texas Instruments by 6.5% in the first quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 83.68% of the company’s stock.
Texas Instruments Incorporated (TXN) opened at 89.65 on Tuesday. The firm has a market cap of $88.76 billion, a price-to-earnings ratio of 22.42 and a beta of 1.24. The stock’s 50 day moving average is $83.69 and its 200-day moving average is $81.23. Texas Instruments Incorporated has a one year low of $66.80 and a one year high of $90.24.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings data on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.07. The firm had revenue of $3.69 billion during 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 company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.76 EPS. On average, equities research analysts expect 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 31st will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.77%. 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. Texas Instruments’s dividend payout ratio (DPR) is currently 50.51%.
Several brokerages have recently issued reports on TXN. Drexel Hamilton raised their target price on shares of Texas Instruments from $93.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. B. Riley reaffirmed a “neutral” rating and set a $89.00 target price on shares of Texas Instruments in a report on Monday, July 31st. Cowen and Company reiterated a “market perform” rating and set a $85.00 target price (up previously from $82.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. Barclays PLC dropped their target price on shares of Texas Instruments from $78.00 to $83.00 in a research report on Wednesday, July 26th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Texas Instruments in a research report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $86.56.
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In related news, COO Brian T. Crutcher sold 50,000 shares of Texas Instruments stock in a transaction on 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 owns 201,440 shares in the company, valued at approximately $16,334,769.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kevin J. Ritchie sold 105,396 shares of Texas Instruments stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $81.91, for a total transaction of $8,632,986.36. Following the completion of the transaction, the insider now owns 252,257 shares in the company, valued at approximately $20,662,370.87. The disclosure for this sale can be found here. Over the last three months, insiders have sold 211,301 shares of company stock worth $17,259,256. 0.96% of the stock is currently owned by insiders.
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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