Eqis Capital Management Inc. raised its position in Texas Instruments Incorporated (NASDAQ:TXN) by 13.5% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 41,683 shares of the semiconductor company’s stock after buying an additional 4,951 shares during the period. Eqis Capital Management Inc.’s holdings in Texas Instruments were worth $4,691,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Kiley Juergens Wealth Management LLC bought a new position in shares of Texas Instruments in the 2nd quarter worth $100,000. Centaurus Financial Inc. bought a new position in shares of Texas Instruments in the 2nd quarter worth $101,000. Baker Ellis Asset Management LLC bought a new position in shares of Texas Instruments in the 2nd quarter worth $105,000. Kwmg LLC bought a new position in shares of Texas Instruments in the 2nd quarter worth $107,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of Texas Instruments in the 3rd quarter worth $107,000. Hedge funds and other institutional investors own 84.02% of the company’s stock.
In related news, insider Stephen A. Anderson sold 25,318 shares of Texas Instruments stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $111.55, for a total value of $2,824,222.90. Following the sale, the insider now owns 131,153 shares of the company’s stock, valued at $14,630,117.15. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.84% of the stock is currently owned by insiders.
Texas Instruments (NASDAQ:TXN) last released its earnings results on Tuesday, July 24th. The semiconductor company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.03. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.96 billion. Texas Instruments had a return on equity of 46.80% and a net margin of 28.08%. Texas Instruments’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 earnings per share. On average, analysts anticipate that Texas Instruments Incorporated will post 5.49 earnings per share for the current year.
Texas Instruments declared that its board has approved a share repurchase program on Thursday, September 20th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 11.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 19th. Investors of record on Wednesday, October 31st will be given a $0.77 dividend. The ex-dividend date is Tuesday, October 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.02%. This is an increase from Texas Instruments’s previous quarterly dividend of $0.62. Texas Instruments’s payout ratio is currently 57.94%.
Several research analysts have recently issued reports on the company. Sanford C. Bernstein set a $130.00 price target on Texas Instruments and gave the stock a “buy” rating in a research report on Wednesday, July 25th. B. Riley raised their price target on Texas Instruments from $115.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 25th. Atlantic Securities assumed coverage on Texas Instruments in a research report on Tuesday, July 10th. They issued an “overweight” rating and a $130.00 price target on the stock. Zacks Investment Research lowered Texas Instruments from a “strong-buy” rating to a “hold” rating in a research report on Saturday, June 30th. Finally, BidaskClub lowered Texas Instruments from a “sell” rating to a “strong sell” rating in a research report on Friday, September 14th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $121.58.
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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