Tompkins Financial Corp reduced its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 17.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,675 shares of the semiconductor company’s stock after selling 1,005 shares during the period. Tompkins Financial Corp’s holdings in Texas Instruments were worth $502,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in TXN. Kiley Juergens Wealth Management LLC purchased a new position in Texas Instruments in the second quarter valued at approximately $100,000. Centaurus Financial Inc. purchased a new position in Texas Instruments in the second quarter valued at approximately $101,000. Baker Ellis Asset Management LLC purchased a new position in Texas Instruments in the second quarter valued at approximately $105,000. Kwmg LLC purchased a new position in Texas Instruments in the second quarter valued at approximately $107,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in Texas Instruments in the third quarter valued at approximately $107,000. Institutional investors and hedge funds own 84.02% of the company’s stock.
In other news, insider Stephen A. Anderson sold 25,318 shares of the firm’s stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $111.55, for a total transaction of $2,824,222.90. Following the completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 0.84% of the stock is currently owned by company insiders.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings results on Tuesday, July 24th. The semiconductor company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.03. Texas Instruments had a net margin of 28.08% and a return on equity of 46.80%. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter last year, the company earned $1.03 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, research analysts predict that Texas Instruments Incorporated will post 5.49 EPS for the current year.
Texas Instruments announced that its board has authorized a share repurchase program on Thursday, September 20th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the semiconductor company to buy up to 11.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Wednesday, October 31st will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.06%. This is an increase from Texas Instruments’s previous quarterly dividend of $0.62. Texas Instruments’s dividend payout ratio (DPR) is presently 57.94%.
TXN has been the topic of several research reports. Bank of America raised their price target on shares of Texas Instruments from $138.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. UBS Group set a $93.00 price objective on shares of Texas Instruments and gave the company a “sell” rating in a research report on Wednesday, July 25th. Longbow Research raised shares of Texas Instruments from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 11th. BidaskClub raised shares of Texas Instruments from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Finally, KeyCorp started coverage on shares of Texas Instruments in a research report on Tuesday, September 25th. They issued a “sector weight” rating for the company. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average 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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