Highland Capital Management LLC increased its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 28.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,627 shares of the semiconductor company’s stock after purchasing an additional 4,753 shares during the quarter. Highland Capital Management LLC’s holdings in Texas Instruments were worth $2,320,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. GSA Capital Partners LLP purchased a new stake in Texas Instruments in the first quarter valued at about $338,000. Cubist Systematic Strategies LLC purchased a new stake in Texas Instruments in the first quarter valued at about $1,203,000. Verition Fund Management LLC purchased a new stake in Texas Instruments in the first quarter valued at about $806,000. Rainier Group Investment Advisory LLC purchased a new stake in Texas Instruments in the first quarter valued at about $187,000. Finally, Private Capital Group LLC raised its stake in Texas Instruments by 141.4% in the first quarter. Private Capital Group LLC now owns 4,471 shares of the semiconductor company’s stock valued at $464,000 after buying an additional 2,619 shares during the last quarter. Hedge funds and other institutional investors own 84.02% of the company’s stock.
Texas Instruments stock opened at $101.54 on Thursday. The stock has a market cap of $104.31 billion, a P/E ratio of 23.72, a P/E/G ratio of 2.06 and a beta of 1.19. Texas Instruments Incorporated has a 52 week low of $92.57 and a 52 week high of $120.75. The company has a current ratio of 6.54, a quick ratio of 5.12 and a debt-to-equity ratio of 0.48.
Texas Instruments announced that its Board of Directors has approved a stock repurchase plan on Thursday, September 20th that allows the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 11.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are 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 issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.03%. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Tuesday, October 30th. Texas Instruments’s dividend payout ratio (DPR) is 57.94%.
In related news, insider Stephen A. Anderson sold 25,318 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which can be accessed through this hyperlink. 0.84% of the stock is owned by company insiders.
Several research analysts have recently issued reports on TXN shares. Loop Capital started coverage on Texas Instruments in a research note on Thursday, June 21st. They issued a “buy” rating and a $135.00 price objective for the company. Zacks Investment Research cut Texas Instruments from a “strong-buy” rating to a “hold” rating in a research note on Saturday, June 30th. Atlantic Securities started coverage on Texas Instruments in a research note on Tuesday, July 10th. They issued an “overweight” rating and a $130.00 price objective for the company. Longbow Research upgraded Texas Instruments from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 11th. Finally, Royal Bank of Canada raised their price objective on Texas Instruments from $125.00 to $127.00 and gave the stock a “$115.68” rating in a research note on Wednesday, July 18th. Two 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. Texas Instruments currently has a consensus rating of “Hold” and an average price target 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.
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