Bristol John W & Co. Inc. NY lowered its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 1.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 961,095 shares of the semiconductor company’s stock after selling 12,941 shares during the period. Texas Instruments comprises about 2.7% of Bristol John W & Co. Inc. NY’s portfolio, making the stock its 9th biggest position. Bristol John W & Co. Inc. NY owned about 0.10% of Texas Instruments worth $103,116,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. FMR LLC grew its position in shares of Texas Instruments by 19.7% in the 2nd quarter. FMR LLC now owns 12,907,773 shares of the semiconductor company’s stock valued at $1,423,082,000 after buying an additional 2,120,260 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Texas Instruments by 0.6% in the 2nd quarter. Wells Fargo & Company MN now owns 7,664,747 shares of the semiconductor company’s stock valued at $845,038,000 after buying an additional 45,800 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Texas Instruments by 2.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 6,127,814 shares of the semiconductor company’s stock valued at $675,592,000 after purchasing an additional 123,780 shares during the period. Schroder Investment Management Group lifted its stake in shares of Texas Instruments by 39.1% in the 2nd quarter. Schroder Investment Management Group now owns 3,278,298 shares of the semiconductor company’s stock valued at $357,662,000 after purchasing an additional 921,101 shares during the period. Finally, Swiss National Bank lifted its stake in shares of Texas Instruments by 2.9% in the 2nd quarter. Swiss National Bank now owns 3,252,894 shares of the semiconductor company’s stock valued at $358,632,000 after purchasing an additional 90,700 shares during the period. Institutional investors and hedge funds own 84.41% of the company’s stock.
TXN has been the topic of a number of recent analyst reports. B. Riley dropped their price objective on Texas Instruments from $123.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, October 22nd. Royal Bank of Canada dropped their price objective on Texas Instruments to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 24th. Bank of America boosted their price objective on Texas Instruments from $138.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, July 25th. Zacks Investment Research downgraded Texas Instruments from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Finally, Barclays dropped their price objective on Texas Instruments from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 23rd. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the stock. Texas Instruments has a consensus rating of “Hold” and an average price target of $117.11.
Shares of Texas Instruments stock opened at $97.14 on Wednesday. The company has a market capitalization of $92.42 billion, a PE ratio of 22.70, a P/E/G ratio of 1.85 and a beta of 1.28. Texas Instruments Incorporated has a 52 week low of $87.90 and a 52 week high of $120.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.97 and a quick ratio of 3.09.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings data on Tuesday, October 23rd. The semiconductor company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.53 by $0.05. The firm had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.30 billion. Texas Instruments had a return on equity of 50.03% and a net margin of 29.62%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.26 earnings per share. On average, equities research analysts predict that Texas Instruments Incorporated will post 5.42 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Wednesday, October 31st will be issued a $0.77 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.62. This represents a $3.08 annualized dividend and a dividend yield of 3.17%. Texas Instruments’s dividend payout ratio is currently 71.96%.
Texas Instruments declared that its board has initiated a stock repurchase plan on Thursday, September 20th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the semiconductor company to repurchase up to 11.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other Texas Instruments news, Director Martin S. Craighead bought 10,900 shares of Texas Instruments stock in a transaction dated Thursday, October 25th. The stock was bought at an average cost of $91.70 per share, with a total value of $999,530.00. Following the completion of the acquisition, the director now directly owns 13,100 shares in the company, valued at approximately $1,201,270. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kyle M. Flessner sold 16,088 shares of the company’s stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $94.00, for a total value of $1,512,272.00. Following the completion of the transaction, the insider now directly owns 43,270 shares of the company’s stock, valued at $4,067,380. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.
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Texas Instruments Company Profile
Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. It operates in two segments, Analog and Embedded Processing. The Analog segment offers power products to manage power requirements in various levels using battery management solutions, portable components, power supply controls, point-of-load products, switches and interfaces, integrated protection devices, high-voltage products, and mobile lighting and display products.
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