Associated Banc Corp Sells 9,527 Shares of Texas Instruments Incorporated (TXN)
Associated Banc Corp lessened its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 20.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,202 shares of the semiconductor company’s stock after selling 9,527 shares during the quarter. Associated Banc Corp’s holdings in Texas Instruments were worth $2,862,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of TXN. BlackRock Inc. increased its stake in Texas Instruments by 1,924.6% during the first quarter. BlackRock Inc. now owns 64,718,640 shares of the semiconductor company’s stock worth $5,213,733,000 after acquiring an additional 61,521,990 shares during the last quarter. Vanguard Group Inc. increased its stake in Texas Instruments by 4.7% during the first quarter. Vanguard Group Inc. now owns 79,646,537 shares of the semiconductor company’s stock worth $6,416,325,000 after acquiring an additional 3,551,400 shares during the last quarter. Waddell & Reed Financial Inc. increased its stake in Texas Instruments by 476.4% during the first quarter. Waddell & Reed Financial Inc. now owns 1,988,640 shares of the semiconductor company’s stock worth $160,205,000 after acquiring an additional 1,643,640 shares during the last quarter. Janus Capital Management LLC increased its stake in Texas Instruments by 22.3% during the first quarter. Janus Capital Management LLC now owns 7,433,168 shares of the semiconductor company’s stock worth $598,816,000 after acquiring an additional 1,353,492 shares during the last quarter. Finally, FMR LLC increased its stake in Texas Instruments by 12.3% during the first quarter. FMR LLC now owns 12,172,327 shares of the semiconductor company’s stock worth $980,603,000 after acquiring an additional 1,328,606 shares during the last quarter. 83.68% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Carrie Smith Cox sold 14,000 shares of the stock in a transaction dated 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 transaction, the director now owns 38,435 shares of the company’s stock, valued at $3,161,278.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert E. Sanchez sold 26,905 shares of the 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 in the company, valued at approximately $2,245,996.20. The disclosure for this sale can be found here. Insiders have sold 211,301 shares of company stock worth $17,259,256 in the last ninety days. Corporate insiders own 0.96% of the company’s stock.
Shares of Texas Instruments Incorporated (NASDAQ TXN) opened at 92.38 on Wednesday. The firm has a market cap of $91.46 billion, a PE ratio of 23.11 and a beta of 1.24. Texas Instruments Incorporated has a 52-week low of $66.80 and a 52-week high of $92.41. The stock’s 50 day moving average price is $85.41 and its 200-day moving average price is $81.68.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter last year, the company posted $0.76 earnings per share. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, equities research 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 program on Thursday, September 21st that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 74% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.62 per share. This is a boost from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, October 30th. This represents a $2.48 annualized dividend and a dividend yield of 2.68%. Texas Instruments’s dividend payout ratio (DPR) is presently 50.51%.
TXN has been the subject of several recent analyst reports. Raymond James Financial, Inc. reissued a “mkt perform” rating on shares of Texas Instruments in a research note on Friday, June 16th. Jefferies Group LLC reissued a “buy” rating on shares of Texas Instruments in a research note on Monday, July 10th. Cowen and Company reissued a “hold” rating and set a $82.00 target price on shares of Texas Instruments in a research note on Friday, July 14th. Zacks Investment Research raised Texas Instruments from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Finally, Barclays PLC raised their target price on Texas Instruments from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 18th. One 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 given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $86.51.
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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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