Texas Instruments Incorporated (TXN) Stake Boosted by State of Wisconsin Investment Board
State of Wisconsin Investment Board lifted its stake in Texas Instruments Incorporated (NASDAQ:TXN) by 27.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,369,143 shares of the semiconductor company’s stock after acquiring an additional 298,021 shares during the quarter. State of Wisconsin Investment Board owned 0.14% of Texas Instruments worth $122,730,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. American Beacon Advisors Inc. acquired a new position in shares of Texas Instruments in the 1st quarter worth approximately $101,000. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Texas Instruments by 18.4% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock worth $101,000 after acquiring an additional 200 shares during the last quarter. ClariVest Asset Management LLC lifted its holdings in shares of Texas Instruments by 8.4% in the 1st quarter. ClariVest Asset Management LLC now owns 1,296 shares of the semiconductor company’s stock worth $104,000 after acquiring an additional 100 shares during the last quarter. Balentine LLC lifted its holdings in shares of Texas Instruments by 6.5% in the 1st quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock worth $106,000 after acquiring an additional 80 shares during the last quarter. Finally, MV Capital Management Inc. lifted its holdings in shares of Texas Instruments by 7.6% in the 2nd quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock worth $102,000 after acquiring an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 84.22% of the company’s stock.
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Texas Instruments Incorporated (NASDAQ:TXN) opened at $98.32 on Friday. Texas Instruments Incorporated has a 52-week low of $69.92 and a 52-week high of $99.05. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.96 and a current ratio of 3.89. The stock has a market cap of $95,372.69, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 2.33 and a beta of 1.28.
Texas Instruments (NASDAQ:TXN) last issued its earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.14. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.91 billion. Texas Instruments had a net margin of 29.98% and a return on equity of 38.88%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 earnings per share. equities analysts anticipate that Texas Instruments Incorporated will post 4.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st were issued a $0.62 dividend. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, October 30th. This represents a $2.48 annualized dividend and a dividend yield of 2.52%. Texas Instruments’s payout ratio is presently 57.94%.
Texas Instruments announced that its Board of Directors has authorized a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other news, Director Mark A. Blinn sold 16,990 shares of Texas Instruments stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $96.44, for a total value of $1,638,515.60. Following the sale, the director now owns 18,495 shares of the company’s stock, valued at $1,783,657.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Bing Xie sold 17,500 shares of Texas Instruments stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $96.53, for a total transaction of $1,689,275.00. Following the completion of the sale, the senior vice president now directly owns 78,102 shares in the company, valued at approximately $7,539,186.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,362,293 shares of company stock worth $131,754,396. Insiders own 0.96% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Mizuho reiterated a “hold” rating on shares of Texas Instruments in a report on Wednesday, October 25th. BMO Capital Markets reiterated a “buy” rating and set a $105.00 target price on shares of Texas Instruments in a report on Wednesday, October 25th. Deutsche Bank AG increased their target price on shares of Texas Instruments from $80.00 to $92.00 and gave the stock a “hold” rating in a report on Wednesday, October 25th. Bank of America Corporation increased their target price on shares of Texas Instruments from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Finally, Nomura increased their target price on shares of Texas Instruments from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $93.85.
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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