Janney Montgomery Scott LLC raised its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 13.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 134,879 shares of the semiconductor company’s stock after purchasing an additional 15,796 shares during the period. Janney Montgomery Scott LLC’s holdings in Texas Instruments were worth $14,471,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the business. Kiley Juergens Wealth Management LLC purchased a new stake in shares of Texas Instruments during the second quarter worth about $100,000. Centaurus Financial Inc. purchased a new stake in shares of Texas Instruments during the second quarter worth about $101,000. Baker Ellis Asset Management LLC purchased a new stake in shares of Texas Instruments during the second quarter worth about $105,000. Kwmg LLC purchased a new stake in shares of Texas Instruments during the second quarter worth about $107,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in shares of Texas Instruments during the third quarter worth about $107,000. Hedge funds and other institutional investors own 84.41% of the company’s stock.
A number of equities research analysts have recently commented on the stock. Royal Bank of Canada lifted their price target on shares of Texas Instruments from $125.00 to $127.00 and gave the stock a “$115.68” rating in a report on Wednesday, July 18th. Zacks Investment Research upgraded shares of Texas Instruments from a “hold” rating to a “buy” rating and set a $130.00 price target for the company in a report on Thursday, July 19th. BidaskClub upgraded shares of Texas Instruments from a “sell” rating to a “hold” rating in a report on Friday, August 10th. Jefferies Financial Group reissued a “buy” rating and issued a $157.00 target price on shares of Texas Instruments in a research report on Wednesday, July 25th. Finally, Mizuho reissued a “hold” rating on shares of Texas Instruments in a research report on Tuesday, July 24th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $117.11.
Shares of TXN stock opened at $96.10 on Friday. The company has a market cap of $93.36 billion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 1.89 and a beta of 1.28. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.09 and a current ratio of 3.97. Texas Instruments Incorporated has a fifty-two week low of $87.90 and a fifty-two week high of $120.75.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, October 23rd. The semiconductor company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. The firm had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Texas Instruments had a net margin of 29.62% and a return on equity of 50.03%. Texas Instruments’s revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.26 earnings per share. As a group, equities research analysts anticipate that Texas Instruments Incorporated will post 5.42 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Wednesday, October 31st will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.20%. This is a boost from Texas Instruments’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Tuesday, October 30th. Texas Instruments’s payout ratio is 71.96%.
Texas Instruments declared that its Board of Directors has authorized a share repurchase plan on Thursday, September 20th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 11.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other Texas Instruments news, insider Kyle M. Flessner sold 16,088 shares of Texas Instruments stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $94.00, for a total transaction of $1,512,272.00. Following the transaction, the insider now directly owns 43,270 shares of the company’s stock, valued at $4,067,380. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Martin S. Craighead purchased 10,900 shares of Texas Instruments stock in a transaction on 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 transaction, the director now owns 13,100 shares of the company’s stock, valued at $1,201,270. The disclosure for this purchase can be found here. Insiders own 0.84% of the company’s stock.
About Texas Instruments
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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