Chicago Equity Partners LLC Sells 11,370 Shares of Texas Instruments Incorporated (TXN)

Chicago Equity Partners LLC cut its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 4.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 243,060 shares of the semiconductor company’s stock after selling 11,370 shares during the period. Texas Instruments makes up approximately 0.8% of Chicago Equity Partners LLC’s holdings, making the stock its 13th biggest holding. Chicago Equity Partners LLC’s holdings in Texas Instruments were worth $26,078,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. increased its holdings in Texas Instruments by 4.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 143,244 shares of the semiconductor company’s stock worth $15,370,000 after purchasing an additional 5,729 shares during the last quarter. Synovus Financial Corp increased its holdings in Texas Instruments by 9.6% during the 3rd quarter. Synovus Financial Corp now owns 80,651 shares of the semiconductor company’s stock worth $8,662,000 after purchasing an additional 7,088 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of Texas Instruments by 10.2% in the 3rd quarter. Sterling Capital Management LLC now owns 8,780 shares of the semiconductor company’s stock valued at $942,000 after acquiring an additional 810 shares during the last quarter. Kaizen Advisory LLC increased its holdings in shares of Texas Instruments by 382.8% in the 3rd quarter. Kaizen Advisory LLC now owns 11,781 shares of the semiconductor company’s stock valued at $1,264,000 after acquiring an additional 9,341 shares during the last quarter. Finally, Chase Investment Counsel Corp increased its holdings in shares of Texas Instruments by 26.4% in the 3rd quarter. Chase Investment Counsel Corp now owns 2,709 shares of the semiconductor company’s stock valued at $290,000 after acquiring an additional 566 shares during the last quarter. 84.21% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:TXN opened at $95.06 on Friday. Texas Instruments Incorporated has a 12-month low of $87.90 and a 12-month high of $120.75. The company has a market cap of $92.42 billion, a P/E ratio of 22.21, a P/E/G ratio of 1.85 and a beta of 1.28. The company has a quick ratio of 3.09, a current ratio of 3.97 and a debt-to-equity ratio of 0.41.

Texas Instruments (NASDAQ:TXN) last released its quarterly earnings data on Tuesday, October 23rd. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.05. Texas Instruments had a return on equity of 50.03% and a net margin of 29.62%. The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the previous year, the firm posted $1.26 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities analysts expect that Texas Instruments Incorporated will post 5.42 EPS for the current fiscal year.

Texas Instruments declared that its Board of Directors has initiated a share buyback program on Thursday, September 20th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 11.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Investors 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 yield of 3.24%. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.62. Texas Instruments’s payout ratio is currently 71.96%.

In related news, insider Kyle M. Flessner sold 16,088 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $94.00, for a total transaction of $1,512,272.00. Following the completion of the transaction, the insider now owns 43,270 shares in the company, valued at approximately $4,067,380. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin S. Craighead purchased 10,900 shares of Texas Instruments stock in a transaction on Thursday, October 25th. The shares were acquired at an average price of $91.70 per share, with a total value of $999,530.00. Following the transaction, the director now directly owns 13,100 shares in the company, valued at approximately $1,201,270. The disclosure for this purchase can be found here. Insiders own 0.84% of the company’s stock.

A number of equities research analysts have recently weighed in on TXN shares. JPMorgan Chase & Co. lowered their price target on Texas Instruments from $134.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, October 24th. B. Riley lowered their price target on Texas Instruments from $123.00 to $110.00 and set a “neutral” rating for the company in a report on Monday, October 22nd. Royal Bank of Canada lowered their price target on Texas Instruments to $120.00 and set an “outperform” rating for the company in a report on Wednesday, October 24th. Zacks Investment Research downgraded Texas Instruments from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Finally, Bank of America boosted their price target on Texas Instruments from $138.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. Texas Instruments currently has an average rating of “Hold” and a consensus price target of $117.11.

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.

Read More: Why do companies issue stock splits?

Want to see what other hedge funds are holding TXN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Instruments Incorporated (NASDAQ:TXN).

Institutional Ownership by Quarter for Texas Instruments (NASDAQ:TXN)

Receive News & Ratings for Texas Instruments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Texas Instruments and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply