Rehmann Capital Advisory Group grew its position in Texas Instruments Incorporated (NASDAQ:TXN) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,951 shares of the semiconductor company’s stock after purchasing an additional 118 shares during the period. Rehmann Capital Advisory Group’s holdings in Texas Instruments were worth $639,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Centaurus Financial Inc. bought a new position in Texas Instruments in the 2nd quarter worth about $101,000. Baker Ellis Asset Management LLC bought a new position in Texas Instruments in the 2nd quarter worth about $105,000. Kwmg LLC bought a new position in Texas Instruments in the 2nd quarter worth about $107,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in Texas Instruments in the 3rd quarter worth about $107,000. Finally, Fort L.P. bought a new position in Texas Instruments in the 2nd quarter worth about $118,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.
In related news, insider Kyle M. Flessner sold 16,088 shares of the 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 completion of the sale, the insider now directly owns 43,270 shares of the company’s stock, valued at $4,067,380. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Martin S. Craighead bought 10,900 shares of the business’s stock in a transaction that occurred on Thursday, October 25th. The shares were acquired at an average cost of $91.70 per share, with a total value of $999,530.00. Following the completion of the purchase, 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. 0.84% of the stock is owned by corporate insiders.
TXN has been the subject of several recent analyst reports. KeyCorp initiated coverage on shares of Texas Instruments in a research report on Tuesday, September 25th. They issued a “sector weight” rating for the company. BidaskClub upgraded shares of Texas Instruments from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 22nd. Goldman Sachs Group reiterated a “neutral” rating and issued a $92.00 price objective on shares of Texas Instruments in a report on Wednesday, October 24th. SunTrust Banks decreased their price objective on shares of Texas Instruments to $93.00 and set a “hold” rating for the company in a report on Wednesday, October 24th. Finally, Zacks Investment Research cut shares of Texas Instruments from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $117.11.
TXN stock opened at $92.38 on Friday. Texas Instruments Incorporated has a 12 month low of $87.90 and a 12 month high of $120.75. The company has a market cap of $93.48 billion, a P/E ratio of 21.58, a price-to-earnings-growth ratio of 1.89 and a beta of 1.29. The company has a quick ratio of 3.09, a current ratio of 3.97 and a debt-to-equity ratio of 0.41.
Texas Instruments (NASDAQ:TXN) last released its earnings results on Tuesday, October 23rd. The semiconductor company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.53 by $0.05. Texas Instruments had a net margin of 29.62% and a return on equity of 50.03%. The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the business earned $1.26 earnings per share. The business’s quarterly revenue was up 3.5% on a year-over-year basis. Equities analysts predict that Texas Instruments Incorporated will post 5.42 earnings per share for the current fiscal year.
Texas Instruments announced that its board has approved a stock repurchase plan on Thursday, September 20th that allows the company to buyback $12.00 billion in 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 typically an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 19th. Investors of record on Wednesday, October 31st were paid a dividend of $0.77 per share. The ex-dividend date was 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 yield of 3.33%. Texas Instruments’s dividend payout ratio is currently 71.96%.
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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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