Birmingham Capital Management Co. Inc. AL lessened its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 5.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 27,570 shares of the semiconductor company’s stock after selling 1,620 shares during the period. Birmingham Capital Management Co. Inc. AL’s holdings in Texas Instruments were worth $2,471,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. American Beacon Advisors Inc. bought a new position in shares of Texas Instruments during the 1st quarter valued at about $101,000. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Texas Instruments by 18.4% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock valued at $101,000 after purchasing an additional 200 shares during the last quarter. Balentine LLC boosted its holdings in shares of Texas Instruments by 6.5% during the 1st quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 80 shares during the last quarter. MV Capital Management Inc. boosted its holdings in shares of Texas Instruments by 7.6% during the 2nd quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock valued at $102,000 after purchasing an additional 93 shares during the last quarter. Finally, Acrospire Investment Management LLC boosted its holdings in shares of Texas Instruments by 55.6% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the semiconductor company’s stock valued at $108,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 85.25% of the company’s stock.
TXN has been the subject of several research reports. SunTrust Banks, Inc. reissued a “hold” rating and set a $96.00 price objective on shares of Texas Instruments in a report on Wednesday, October 25th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $98.00 price target (up previously from $85.00) on shares of Texas Instruments in a report on Wednesday, October 25th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $83.00 price target (up previously from $78.00) on shares of Texas Instruments in a report on Wednesday, July 26th. Cowen and Company reaffirmed a “market perform” rating and issued a $85.00 price target (up previously from $82.00) on shares of Texas Instruments in a report on Wednesday, July 26th. Finally, B. Riley reaffirmed a “hold” rating and issued a $97.00 price target (up previously from $89.00) on shares of Texas Instruments in a report on Wednesday, October 25th. One 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 stock. The stock has a consensus rating of “Buy” and a consensus price target of $93.85.
Texas Instruments Incorporated (TXN) opened at $98.28 on Tuesday. The stock has a market cap of $97,200.00, a P/E ratio of 24.07, a P/E/G ratio of 2.35 and a beta of 1.28. Texas Instruments Incorporated has a 1-year low of $69.92 and a 1-year 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.
Texas Instruments (NASDAQ:TXN) last announced 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 company had revenue of $4.12 billion during 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%. Texas Instruments’s revenue was up 12.0% compared to the same quarter last year. During the same period last year, the firm earned $0.94 earnings per share. equities analysts predict that Texas Instruments Incorporated will post 4.34 EPS for the current year.
Texas Instruments announced that its board has approved a stock buyback program 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 programs are typically a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.52%. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, October 30th. Texas Instruments’s dividend payout ratio (DPR) is 56.49%.
In other news, CEO Richard K. Templeton sold 190,000 shares of Texas Instruments stock in a transaction on Friday, October 27th. The shares were sold at an average price of $96.88, for a total transaction of $18,407,200.00. Following the completion of the sale, the chief executive officer now directly owns 1,137,056 shares in the company, valued at $110,157,985.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Blinn sold 16,990 shares of Texas Instruments stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $96.44, for a total transaction 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,362,293 shares of company stock valued at $131,754,396. 0.96% of the stock is owned by insiders.
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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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