First Midwest Bank Trust Division boosted its position in Texas Instruments Incorporated (NASDAQ:TXN) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,155 shares of the semiconductor company’s stock after purchasing an additional 1,004 shares during the quarter. First Midwest Bank Trust Division’s holdings in Texas Instruments were worth $3,021,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC increased its stake in shares of Texas Instruments by 19.7% in the 2nd quarter. FMR LLC now owns 12,907,773 shares of the semiconductor company’s stock worth $1,423,082,000 after acquiring an additional 2,120,260 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Texas Instruments by 0.6% in the 2nd quarter. Wells Fargo & Company MN now owns 7,664,747 shares of the semiconductor company’s stock worth $845,038,000 after acquiring an additional 45,800 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Texas Instruments by 2.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 6,127,814 shares of the semiconductor company’s stock worth $675,592,000 after acquiring an additional 123,780 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Texas Instruments by 39.1% in the 2nd quarter. Schroder Investment Management Group now owns 3,278,298 shares of the semiconductor company’s stock worth $357,662,000 after acquiring an additional 921,101 shares during the last quarter. Finally, Swiss National Bank increased its stake in shares of Texas Instruments by 2.9% in the 2nd quarter. Swiss National Bank now owns 3,252,894 shares of the semiconductor company’s stock worth $358,632,000 after acquiring an additional 90,700 shares during the last quarter. 84.23% of the stock is owned by hedge funds and other institutional investors.
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 completion of the transaction, the insider now directly owns 131,153 shares in the company, valued at approximately $14,630,117.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.84% of the company’s stock.
Texas Instruments stock traded down $0.52 during midday trading on Tuesday, reaching $99.20. 566,230 shares of the stock traded hands, compared to its average volume of 6,682,236. Texas Instruments Incorporated has a 12-month low of $94.16 and a 12-month high of $120.75. The stock has a market capitalization of $95.53 billion, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 1.88 and a beta of 1.19. The company has a debt-to-equity ratio of 0.48, a current ratio of 6.54 and a quick ratio of 5.12.
Texas Instruments (NASDAQ:TXN) last announced its earnings results on Tuesday, July 24th. The semiconductor company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.03. Texas Instruments had a return on equity of 46.80% and a net margin of 28.08%. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same period last year, the business posted $1.03 EPS. Texas Instruments’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities research analysts anticipate that Texas Instruments Incorporated will post 5.5 earnings per share for the current year.
Texas Instruments declared that its Board of Directors has approved a share repurchase plan on Thursday, September 20th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the semiconductor company to repurchase up to 11.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The company 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 dividend on an annualized basis and a yield of 3.10%. This is a boost from Texas Instruments’s previous quarterly dividend of $0.62. The ex-dividend date is Tuesday, October 30th. Texas Instruments’s dividend payout ratio (DPR) is 57.94%.
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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