Texas Instruments Incorporated (TXN) Shares Bought by CAPROCK Group Inc.
CAPROCK Group Inc. increased its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 33.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 18,749 shares of the semiconductor company’s stock after acquiring an additional 4,717 shares during the period. CAPROCK Group Inc.’s holdings in Texas Instruments were worth $2,113,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. BerganKDV Wealth Management LLC lifted its position in Texas Instruments by 53.3% during the third quarter. BerganKDV Wealth Management LLC now owns 12,034 shares of the semiconductor company’s stock valued at $1,079,000 after buying an additional 4,182 shares during the period. Ingalls & Snyder LLC lifted its position in Texas Instruments by 9.6% during the third quarter. Ingalls & Snyder LLC now owns 12,600 shares of the semiconductor company’s stock valued at $1,129,000 after buying an additional 1,100 shares during the period. PGGM Investments lifted its position in Texas Instruments by 102.8% during the third quarter. PGGM Investments now owns 956,619 shares of the semiconductor company’s stock valued at $85,751,000 after buying an additional 484,906 shares during the period. Sather Financial Group Inc purchased a new position in Texas Instruments during the second quarter valued at $600,000. Finally, Prudential PLC lifted its position in Texas Instruments by 62.3% during the second quarter. Prudential PLC now owns 26,520 shares of the semiconductor company’s stock valued at $2,040,000 after buying an additional 10,175 shares during the period. 83.85% of the stock is owned by institutional investors and hedge funds.
Several brokerages have commented on TXN. Credit Suisse Group reissued an “in-line” rating and set a $125.00 price objective (up previously from $110.00) on shares of Texas Instruments in a research report on Tuesday. Zacks Investment Research lowered Texas Instruments from a “buy” rating to a “hold” rating in a research report on Monday. Royal Bank of Canada reaffirmed a “buy” rating and issued a $112.00 price target on shares of Texas Instruments in a research report on Thursday, January 4th. BidaskClub raised Texas Instruments from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 21st. Finally, Morgan Stanley lifted their price target on Texas Instruments from $88.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $96.06.
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. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.91 billion. Texas Instruments had a return on equity of 38.88% and a net margin of 29.98%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 EPS. equities research analysts anticipate that Texas Instruments Incorporated will post 4.36 earnings per share for the current year.
Texas Instruments declared that its Board of Directors has initiated a share buyback plan on Thursday, September 21st that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase up to 74% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
In related news, CEO Richard K. Templeton sold 190,000 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $96.88, for a total transaction of $18,407,200.00. Following the completion of the transaction, the chief executive officer now directly owns 1,137,056 shares in the company, valued at approximately $110,157,985.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Richard K. Templeton sold 450,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $96.51, for a total value of $43,429,500.00. Following the transaction, the chairman now owns 1,137,056 shares of the company’s stock, valued at $109,737,274.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,362,293 shares of company stock valued at $131,754,396. 0.96% of the stock is currently owned by corporate insiders.
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Texas Instruments Company 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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