Renaissance Technologies LLC Takes Position in Texas Instruments Incorporated (TXN)

Renaissance Technologies LLC bought a new position in Texas Instruments Incorporated (NASDAQ:TXN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,172,700 shares of the semiconductor company’s stock, valued at approximately $125,819,000. Renaissance Technologies LLC owned 0.12% of Texas Instruments as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its position in shares of Texas Instruments by 3.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 23,763,599 shares of the semiconductor company’s stock worth $2,549,597,000 after buying an additional 811,931 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Texas Instruments by 2.5% in the third quarter. Bank of New York Mellon Corp now owns 13,837,835 shares of the semiconductor company’s stock worth $1,484,661,000 after buying an additional 337,435 shares during the period. Janus Henderson Group PLC boosted its position in shares of Texas Instruments by 1.3% in the third quarter. Janus Henderson Group PLC now owns 13,715,525 shares of the semiconductor company’s stock worth $1,471,541,000 after buying an additional 169,369 shares during the period. Franklin Resources Inc. boosted its position in shares of Texas Instruments by 2.4% in the third quarter. Franklin Resources Inc. now owns 13,506,448 shares of the semiconductor company’s stock worth $1,449,107,000 after buying an additional 314,636 shares during the period. Finally, FMR LLC boosted its position in shares of Texas Instruments by 19.7% in the second quarter. FMR LLC now owns 12,907,773 shares of the semiconductor company’s stock worth $1,423,082,000 after buying an additional 2,120,260 shares during the period. 84.70% of the stock is owned by institutional investors and hedge funds.

NASDAQ TXN opened at $92.38 on Friday. Texas Instruments Incorporated has a fifty-two week low of $87.90 and a fifty-two week high of $120.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.09 and a current ratio of 3.97. The stock has a market cap of $93.48 billion, a price-to-earnings ratio of 21.58, a P/E/G ratio of 1.89 and a beta of 1.29.

Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings data on Tuesday, October 23rd. The semiconductor company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.05. The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.30 billion. Texas Instruments had a return on equity of 50.03% and a net margin of 29.62%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 earnings per share. Analysts anticipate that Texas Instruments Incorporated will post 5.42 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 19th. Stockholders of record on Wednesday, October 31st were paid a $0.77 dividend. The ex-dividend date of this dividend was Tuesday, October 30th. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.62. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.33%. Texas Instruments’s payout ratio is presently 71.96%.

Texas Instruments declared that its board has approved a share repurchase program on Thursday, September 20th that allows the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 11.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

A number of research firms recently issued reports on TXN. Zacks Investment Research raised Texas Instruments from a “sell” rating to a “hold” rating in a research report on Thursday, October 25th. Sanford C. Bernstein reissued a “buy” rating and set a $115.00 price objective on shares of Texas Instruments in a research report on Wednesday, October 24th. JPMorgan Chase & Co. reduced their price objective on Texas Instruments from $134.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, October 24th. Loop Capital reduced their price objective on Texas Instruments to $120.00 and set a “buy” rating for the company in a research report on Wednesday, October 24th. Finally, Barclays reduced their price objective on Texas Instruments from $120.00 to $105.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 23rd. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $117.11.

In other Texas Instruments news, Director Martin S. Craighead acquired 10,900 shares of the company’s stock in a transaction dated Thursday, October 25th. The shares were acquired at an average cost of $91.70 per share, for a total transaction of $999,530.00. Following the completion of the purchase, the director now owns 13,100 shares of the company’s stock, valued at approximately $1,201,270. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kyle M. Flessner sold 16,088 shares of Texas Instruments stock in a transaction dated Wednesday, October 31st. The stock was 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 owns 43,270 shares in the company, valued at $4,067,380. The disclosure for this sale can be found here. 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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Institutional Ownership by Quarter for Texas Instruments (NASDAQ:TXN)

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