CAPROCK Group Inc. reduced its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,511 shares of the semiconductor company’s stock after selling 528 shares during the quarter. CAPROCK Group Inc.’s holdings in Texas Instruments were worth $1,879,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of TXN. Kiley Juergens Wealth Management LLC acquired a new stake in shares of Texas Instruments in the second quarter valued at about $100,000. Centaurus Financial Inc. acquired a new stake in shares of Texas Instruments in the second quarter valued at about $101,000. Baker Ellis Asset Management LLC acquired a new stake in shares of Texas Instruments in the second quarter valued at about $105,000. Kwmg LLC acquired a new stake in shares of Texas Instruments in the second quarter valued at about $107,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in shares of Texas Instruments in the third quarter valued at about $107,000. 84.02% of the stock is currently owned by institutional investors.
In other Texas Instruments news, insider Stephen A. Anderson sold 25,318 shares of Texas Instruments stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $111.55, for a total transaction of $2,824,222.90. Following the sale, the insider now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.84% of the stock is currently owned by insiders.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings data on Tuesday, July 24th. The semiconductor company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.03. The company 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%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 earnings per share. On average, analysts predict that Texas Instruments Incorporated will post 5.49 earnings per share for the current year.
Texas Instruments declared that its board has initiated a share repurchase plan on Thursday, September 20th that permits the company to repurchase $12.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 11.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Wednesday, October 31st will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.01%. This is an increase from Texas Instruments’s previous quarterly dividend of $0.62. The ex-dividend date is Tuesday, October 30th. Texas Instruments’s payout ratio is presently 57.94%.
Several equities research analysts have recently issued reports on TXN shares. Royal Bank of Canada raised their price target on Texas Instruments from $125.00 to $127.00 and gave the company a “$115.68” rating in a research report on Wednesday, July 18th. Longbow Research raised Texas Instruments from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 11th. Loop Capital started coverage on Texas Instruments in a research report on Thursday, June 21st. They set a “buy” rating and a $135.00 target price on the stock. Bank of America lifted their target price on Texas Instruments from $138.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Finally, Sanford C. Bernstein set a $130.00 target price on Texas Instruments and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $121.58.
Texas Instruments Profile
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.
Further Reading: Compound Annual Growth Rate (CAGR)
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