Hartford Investment Management Co. Sells 6,571 Shares of Texas Instruments Incorporated (TXN)

Hartford Investment Management Co. decreased its position in Texas Instruments Incorporated (NASDAQ:TXN) by 2.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 230,281 shares of the semiconductor company’s stock after selling 6,571 shares during the period. Hartford Investment Management Co.’s holdings in Texas Instruments were worth $20,642,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. American Beacon Advisors Inc. bought a new position in shares of Texas Instruments in the first quarter worth approximately $101,000. Patriot Financial Group Insurance Agency LLC lifted its stake in Texas Instruments by 18.4% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock worth $101,000 after acquiring an additional 200 shares during the period. MV Capital Management Inc. lifted its stake in Texas Instruments by 7.6% in the second quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock worth $102,000 after acquiring an additional 93 shares during the period. Acrospire Investment Management LLC lifted its stake in Texas Instruments by 55.6% in the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the semiconductor company’s stock worth $108,000 after acquiring an additional 500 shares during the period. Finally, American National Bank lifted its stake in Texas Instruments by 2,470.9% in the second quarter. American National Bank now owns 1,414 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 1,359 shares during the period. Hedge funds and other institutional investors own 83.97% of the company’s stock.

Texas Instruments Incorporated (NASDAQ TXN) opened at $96.90 on Wednesday. The company has a current ratio of 3.89, a quick ratio of 2.96 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $95,776.77, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 2.32 and a beta of 1.27. Texas Instruments Incorporated has a 52-week low of $70.61 and a 52-week high of $99.79.

Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings data on Tuesday, October 24th. The semiconductor company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.12 by $0.14. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $3.91 billion. Texas Instruments had a return on equity of 38.88% and a net margin of 29.98%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 earnings per share. equities research analysts forecast that Texas Instruments Incorporated will post 4.36 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.56%. The ex-dividend date was Monday, October 30th. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.50. Texas Instruments’s payout ratio is currently 57.94%.

Texas Instruments declared that its board has initiated a stock repurchase program on Thursday, September 21st that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 74% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

A number of analysts recently commented on the company. KeyCorp reaffirmed a “hold” rating on shares of Texas Instruments in a research note on Friday, November 24th. Mizuho reaffirmed a “hold” rating on shares of Texas Instruments in a research note on Wednesday, October 25th. BMO Capital Markets reaffirmed a “buy” rating and issued a $105.00 price target on shares of Texas Instruments in a research note on Wednesday, October 25th. Deutsche Bank raised their price target on Texas Instruments from $80.00 to $92.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Finally, Bank of America raised their price target on Texas Instruments from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $93.85.

In other news, insider R Gregory Delagi sold 238,750 shares of Texas Instruments stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $97.44, for a total value of $23,263,800.00. Following the completion of the transaction, the insider now owns 189,234 shares of the company’s stock, valued at approximately $18,438,960.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Bing Xie sold 17,500 shares of Texas Instruments stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $96.53, for a total value of $1,689,275.00. Following the completion of the transaction, the senior vice president now directly owns 78,102 shares of the company’s stock, valued at approximately $7,539,186.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,362,293 shares of company stock valued at $131,754,396. 0.96% of the stock is owned by insiders.

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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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Institutional Ownership by Quarter for Texas Instruments (NASDAQ:TXN)

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