Noesis Capital Mangement Corp Sells 133 Shares of Texas Instruments Incorporated (TXN)
Noesis Capital Mangement Corp lessened its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 4.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,704 shares of the semiconductor company’s stock after selling 133 shares during the period. Noesis Capital Mangement Corp’s holdings in Texas Instruments were worth $208,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Beacon Advisors Inc. bought a new position in Texas Instruments during the 1st quarter valued at approximately $101,000. Patriot Financial Group Insurance Agency LLC raised its position in Texas Instruments by 18.4% during the 2nd 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 during the last quarter. MV Capital Management Inc. raised its position in Texas Instruments by 7.6% during the 2nd 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 during the last quarter. ClariVest Asset Management LLC raised its position in Texas Instruments by 8.4% during the 1st 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 during the last quarter. Finally, Balentine LLC raised its position in Texas Instruments by 6.5% during the 1st quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 80 shares during the last quarter. 83.68% of the stock is owned by institutional investors.
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In other news, insider Kevin J. Ritchie sold 105,396 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $81.91, for a total transaction of $8,632,986.36. Following the sale, the insider now directly owns 252,257 shares of the company’s stock, valued at $20,662,370.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carrie Smith Cox sold 14,000 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $82.25, for a total transaction of $1,151,500.00. Following the sale, the director now directly owns 38,435 shares in the company, valued at $3,161,278.75. 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 three months. Corporate insiders own 0.96% of the company’s stock.
A number of research analysts have commented on the company. Royal Bank Of Canada upped their price target on Texas Instruments from $95.00 to $96.00 and gave the company an “outperform” rating in a research report on Wednesday, July 26th. UBS AG reaffirmed a “buy” rating and set a $93.00 price target (up previously from $91.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. Loop Capital reaffirmed a “hold” rating and set a $84.00 price target (up previously from $79.00) on shares of Texas Instruments in a research report on Wednesday, July 26th. Drexel Hamilton upped their price target on Texas Instruments from $93.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Finally, Zacks Investment Research raised Texas Instruments from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $86.51.
Texas Instruments Incorporated (NASDAQ:TXN) opened at 91.35 on Monday. The stock’s 50 day moving average price is $84.73 and its 200 day moving average price is $81.49. The company has a market capitalization of $90.44 billion, a PE ratio of 22.85 and a beta of 1.24. Texas Instruments Incorporated has a 12-month low of $66.80 and a 12-month high of $91.54.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings data on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.07. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.57 billion. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 earnings per share. On average, equities analysts anticipate that Texas Instruments Incorporated will post $4.13 EPS for the current fiscal year.
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 issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, October 30th. This is a positive change 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 2.71%. Texas Instruments’s payout ratio is 50.51%.
Texas Instruments announced that its Board of Directors has authorized a share repurchase 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 purchase up to 74% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Texas Instruments 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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