Berkshire Asset Management LLC PA cut its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 12.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,183 shares of the semiconductor company’s stock after selling 2,231 shares during the period. Berkshire Asset Management LLC PA’s holdings in Texas Instruments were worth $1,629,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in Texas Instruments in the first quarter worth approximately $338,000. Susquehanna Fundamental Investments LLC acquired a new stake in Texas Instruments in the first quarter worth approximately $1,049,000. Natixis lifted its position in Texas Instruments by 1,717.3% in the first quarter. Natixis now owns 96,482 shares of the semiconductor company’s stock worth $9,964,000 after purchasing an additional 91,173 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its position in Texas Instruments by 17.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 48,771 shares of the semiconductor company’s stock worth $5,052,000 after purchasing an additional 7,310 shares during the period. Finally, LPL Financial LLC lifted its position in Texas Instruments by 2.1% in the first quarter. LPL Financial LLC now owns 154,067 shares of the semiconductor company’s stock worth $16,006,000 after purchasing an additional 3,110 shares during the period. Institutional investors and hedge funds own 84.02% of the company’s stock.
In other Texas Instruments news, insider Stephen A. Anderson sold 25,318 shares of the business’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $111.55, for a total transaction of $2,824,222.90. Following the sale, the insider now directly owns 131,153 shares of the company’s stock, valued at approximately $14,630,117.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.84% of the stock is owned by insiders.
NASDAQ:TXN traded up $1.57 during trading hours on Friday, hitting $101.10. 722,330 shares of the stock traded hands, compared to its average volume of 5,440,376. The company has a quick ratio of 5.12, a current ratio of 6.54 and a debt-to-equity ratio of 0.48. Texas Instruments Incorporated has a fifty-two week low of $92.57 and a fifty-two week high of $120.75. The company has a market cap of $104.31 billion, a P/E ratio of 23.66, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19.
Texas Instruments (NASDAQ:TXN) last announced its earnings results on Tuesday, July 24th. The semiconductor company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.03. Texas Instruments had a net margin of 28.08% and a return on equity of 46.80%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the previous year, the business earned $1.03 EPS. The company’s revenue was up 8.8% on a year-over-year basis. Equities research analysts anticipate that Texas Instruments Incorporated will post 5.49 earnings per share for the current year.
Texas Instruments declared that its board has authorized a share buyback program on Thursday, September 20th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 11.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Wednesday, October 31st will be paid a dividend of $0.77 per share. This is an increase from Texas Instruments’s previous quarterly dividend of $0.62. This represents a $3.08 annualized dividend and a yield of 3.05%. The ex-dividend date is Tuesday, October 30th. Texas Instruments’s payout ratio is 57.94%.
TXN has been the subject of a number of research analyst reports. Bank of America upped their target price on Texas Instruments from $138.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Longbow Research raised Texas Instruments from a “neutral” rating to a “buy” rating in a report on Wednesday, July 11th. UBS Group set a $93.00 price target on Texas Instruments and gave the company a “sell” rating in a report on Wednesday, July 25th. BidaskClub raised Texas Instruments from a “sell” rating to a “hold” rating in a report on Friday, August 10th. Finally, KeyCorp began coverage on Texas Instruments in a report on Tuesday, September 25th. They issued a “sector weight” rating on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $121.58.
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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