Amalgamated Bank Raises Holdings in Texas Instruments Incorporated (TXN)
Amalgamated Bank boosted its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 54.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 117,831 shares of the semiconductor company’s stock after purchasing an additional 41,726 shares during the period. Amalgamated Bank’s holdings in Texas Instruments were worth $9,065,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of TXN. Waldron LP purchased a new position in Texas Instruments during the 1st quarter worth $423,000. Montecito Bank & Trust lifted its stake in shares of Texas Instruments by 4.6% in the 1st quarter. Montecito Bank & Trust now owns 9,030 shares of the semiconductor company’s stock worth $727,000 after acquiring an additional 400 shares during the period. Allegis Investment Advisors LLC lifted its stake in shares of Texas Instruments by 2.2% in the 1st quarter. Allegis Investment Advisors LLC now owns 9,081 shares of the semiconductor company’s stock worth $732,000 after acquiring an additional 192 shares during the period. RB Capital Management LLC lifted its stake in shares of Texas Instruments by 0.6% in the 1st quarter. RB Capital Management LLC now owns 5,177 shares of the semiconductor company’s stock worth $417,000 after acquiring an additional 31 shares during the period. Finally, Thomaspartners Inc. lifted its stake in shares of Texas Instruments by 6.2% in the 1st quarter. Thomaspartners Inc. now owns 3,416,611 shares of the semiconductor company’s stock worth $275,242,000 after acquiring an additional 199,945 shares during the period. 83.68% of the stock is currently owned by institutional investors.
Shares of Texas Instruments Incorporated (NASDAQ:TXN) opened at 92.62 on Friday. The stock has a market capitalization of $91.70 billion, a P/E ratio of 23.17 and a beta of 1.24. The company has a 50-day moving average of $86.10 and a 200-day moving average of $81.83. Texas Instruments Incorporated has a 12-month low of $66.80 and a 12-month high of $93.31.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings results 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 business had revenue of $3.69 billion during 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 firm’s revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 earnings per share. Equities analysts expect that Texas Instruments Incorporated will post $4.13 earnings per share for the current fiscal year.
Texas Instruments declared that its board has approved a share repurchase program on Thursday, September 21st that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 74% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board 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 $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.68%. This is a positive change 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 is 50.51%.
Several research firms have recently commented on TXN. Royal Bank Of Canada raised their target price on shares of Texas Instruments from $95.00 to $96.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 26th. UBS AG restated a “buy” rating and issued a $93.00 target price (up previously from $91.00) on shares of Texas Instruments in a research note on Wednesday, July 26th. Loop Capital restated a “hold” rating and issued a $84.00 target price (up previously from $79.00) on shares of Texas Instruments in a research note on Wednesday, July 26th. Drexel Hamilton raised their target price on shares of Texas Instruments from $93.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Finally, SunTrust Banks, Inc. restated a “hold” rating and issued a $86.00 target price on shares of Texas Instruments in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $86.51.
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In related news, insider Kevin J. Ritchie sold 105,396 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $81.91, for a total value of $8,632,986.36. Following the transaction, the insider now owns 252,257 shares in the company, valued at $20,662,370.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert E. Sanchez sold 26,905 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $81.48, for a total value of $2,192,219.40. Following the completion of the transaction, the director now owns 27,565 shares in the company, valued at approximately $2,245,996.20. The disclosure for this sale can be found here. Insiders sold 211,301 shares of company stock valued at $17,259,256 over the last three months. 0.96% of the stock is owned by insiders.
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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