Texas Instruments Incorporated (TXN) Shares Bought by Whittier Trust Co.
Whittier Trust Co. raised its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 4.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 29,422 shares of the semiconductor company’s stock after purchasing an additional 1,290 shares during the period. Whittier Trust Co.’s holdings in Texas Instruments were worth $2,638,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in TXN. APG Asset Management N.V. grew its position in shares of Texas Instruments by 9.7% during the 3rd quarter. APG Asset Management N.V. now owns 3,078,265 shares of the semiconductor company’s stock valued at $275,936,000 after buying an additional 271,800 shares during the last quarter. Carnick & Kubik Group LLC bought a new stake in shares of Texas Instruments during the 3rd quarter valued at about $1,461,000. Farmers & Merchants Investments Inc. grew its position in shares of Texas Instruments by 3.6% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 131,542 shares of the semiconductor company’s stock valued at $11,791,000 after buying an additional 4,616 shares during the last quarter. Merriman Wealth Management LLC bought a new stake in shares of Texas Instruments during the 3rd quarter valued at about $248,000. Finally, Oakbrook Investments LLC grew its position in shares of Texas Instruments by 64.2% during the 3rd quarter. Oakbrook Investments LLC now owns 66,100 shares of the semiconductor company’s stock valued at $5,925,000 after buying an additional 25,850 shares during the last quarter. 83.87% of the stock is owned by institutional investors.
In other Texas Instruments news, CEO Richard K. Templeton sold 190,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $96.88, for a total value of $18,407,200.00. Following the transaction, the chief executive officer now owns 1,137,056 shares in the company, valued at approximately $110,157,985.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Darla H. Whitaker sold 118,799 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $96.24, for a total transaction of $11,433,215.76. Following the completion of the transaction, the vice president now owns 123,993 shares in the company, valued at approximately $11,933,086.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,482,689 shares of company stock worth $141,615,432. Company insiders own 0.96% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. BMO Capital Markets reaffirmed a “buy” rating and set a $105.00 price objective on shares of Texas Instruments in a research report on Wednesday, October 25th. Stifel Nicolaus reaffirmed a “hold” rating and set a $98.00 price objective (up previously from $85.00) on shares of Texas Instruments in a research report on Wednesday, October 25th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $110.00 price objective (up previously from $92.00) on shares of Texas Instruments in a research report on Wednesday, October 25th. Robert W. Baird boosted their price objective on shares of Texas Instruments from $85.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Finally, Deutsche Bank AG boosted their price objective on shares of Texas Instruments from $80.00 to $92.00 and gave the company a “hold” rating in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $93.85.
Shares of Texas Instruments Incorporated (NASDAQ TXN) opened at $98.40 on Wednesday. Texas Instruments Incorporated has a 1-year low of $67.60 and a 1-year high of $99.05. The company has a current ratio of 3.89, a quick ratio of 2.96 and a debt-to-equity ratio of 0.28. The stock has a market cap of $97,117.14, a P/E ratio of 24.27, a PEG ratio of 2.37 and a beta of 1.28.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.14. Texas Instruments had a net margin of 29.98% and a return on equity of 38.88%. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the previous year, the business earned $0.94 earnings per share. The firm’s revenue was up 12.0% compared to the same quarter last year. analysts forecast that Texas Instruments Incorporated will post 4.33 EPS for the current fiscal year.
The company also recently declared 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 represents a $2.48 dividend on an annualized basis and a dividend yield of 2.52%. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.50. Texas Instruments’s payout ratio is currently 57.94%.
Texas Instruments announced that its board has approved a stock buyback program on Thursday, September 21st that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the semiconductor company to purchase up to 74% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
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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