Norris Perne & French LLP MI reduced its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 3.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,057 shares of the semiconductor company’s stock after selling 125 shares during the period. Norris Perne & French LLP MI’s holdings in Texas Instruments were worth $246,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Perigon Wealth Management LLC acquired a new position in Texas Instruments during the fourth quarter valued at $111,000. Norway Savings Bank increased its position in Texas Instruments by 16.0% in the first quarter. Norway Savings Bank now owns 1,508 shares of the semiconductor company’s stock valued at $121,000 after buying an additional 208 shares during the period. Capital Analysts LLC increased its position in Texas Instruments by 9.1% in the fourth quarter. Capital Analysts LLC now owns 1,702 shares of the semiconductor company’s stock valued at $124,000 after buying an additional 142 shares during the period. Salem Investment Counselors Inc. acquired a new position in Texas Instruments during the third quarter valued at $138,000. Finally, Coconut Grove Bank increased its position in Texas Instruments by 77.1% in the first quarter. Coconut Grove Bank now owns 1,930 shares of the semiconductor company’s stock valued at $155,000 after buying an additional 840 shares during the period. Institutional investors and hedge funds own 85.06% of the company’s stock.
Shares of Texas Instruments Incorporated (NASDAQ TXN) traded down 0.47% during trading on Friday, hitting $79.70. The stock had a trading volume of 6,246,751 shares. The stock’s 50 day moving average is $80.65 and its 200 day moving average is $77.85. The stock has a market capitalization of $79.41 billion, a price-to-earnings ratio of 21.21 and a beta of 1.16. Texas Instruments Incorporated has a 52 week low of $58.61 and a 52 week high of $84.65.
Texas Instruments (NASDAQ:TXN) last announced its earnings results on Tuesday, April 25th. The semiconductor company reported $0.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.06. Texas Instruments had a net margin of 27.54% and a return on equity of 34.50%. The company had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same period last year, the firm earned $0.65 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, equities research analysts expect that Texas Instruments Incorporated will post $3.93 earnings per share for the current fiscal year.
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Several equities research analysts have commented on TXN shares. Drexel Hamilton restated a “buy” rating and set a $93.00 price target on shares of Texas Instruments in a research note on Wednesday, April 26th. Instinet restated a “neutral” rating and set a $75.00 price target (up from $70.00) on shares of Texas Instruments in a research note on Saturday, April 29th. Macquarie started coverage on Texas Instruments in a research note on Thursday, March 30th. They set a “neutral” rating and a $82.00 price target for the company. Deutsche Bank AG restated a “hold” rating and set a $75.00 price target (up from $73.00) on shares of Texas Instruments in a research note on Saturday, April 29th. Finally, Vetr lowered Texas Instruments from a “strong-buy” rating to a “buy” rating and set a $89.16 target price for the company. in a research note on Monday, March 13th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $82.10.
In other news, insider Niels Anderskouv sold 134,360 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $80.42, for a total transaction of $10,805,231.20. Following the transaction, the insider now directly owns 132,079 shares of the company’s stock, valued at $10,621,793.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pamela H. Patsley sold 7,000 shares of Texas Instruments stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $80.55, for a total transaction of $563,850.00. Following the completion of the transaction, the director now directly owns 35,296 shares in the company, valued at $2,843,092.80. The disclosure for this sale can be found here. Insiders have sold 323,780 shares of company stock worth $26,093,457 over the last ninety days. Insiders own 0.96% of the company’s stock.
About Texas Instruments
Texas Instruments Incorporated designs, makes and sells semiconductors to electronics designers and manufacturers across the world. The Company operates through two segments: Analog and Embedded Processing. As of December 31, 2016, the Company had design, manufacturing or sales operations in more than 30 countries.
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