Sumitomo Mitsui Trust Holdings Inc. raised its position in Texas Instruments Incorporated (NASDAQ:TXN) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,159,249 shares of the semiconductor company’s stock after purchasing an additional 47,496 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Texas Instruments were worth $338,956,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Kiley Juergens Wealth Management LLC purchased a new stake in Texas Instruments in the 2nd quarter worth about $100,000. Centaurus Financial Inc. purchased a new stake in Texas Instruments in the 2nd quarter worth about $101,000. Baker Ellis Asset Management LLC purchased a new stake in Texas Instruments in the 2nd quarter worth about $105,000. Kwmg LLC purchased a new stake in Texas Instruments in the 2nd quarter worth about $107,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in Texas Instruments in the 3rd quarter worth about $107,000. 84.41% of the stock is currently owned by institutional investors.
NASDAQ TXN opened at $96.10 on Monday. The firm has a market capitalization of $92.31 billion, a price-to-earnings ratio of 22.45, a P/E/G ratio of 1.87 and a beta of 1.28. Texas Instruments Incorporated has a 12-month low of $87.90 and a 12-month high of $120.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.97 and a quick ratio of 3.09.
Texas Instruments declared that its Board of Directors has initiated a stock 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 reacquire up to 11.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Wednesday, October 31st will be issued a $0.77 dividend. 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 3.20%. This is a boost from Texas Instruments’s previous quarterly dividend of $0.62. Texas Instruments’s dividend payout ratio (DPR) is currently 71.96%.
In related news, insider Kyle M. Flessner sold 16,088 shares of the firm’s stock in a transaction on Wednesday, October 31st. The shares were 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 of the company’s stock, valued at $4,067,380. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Martin S. Craighead bought 10,900 shares of Texas Instruments stock in a transaction that occurred on Thursday, October 25th. The shares were acquired at an average cost of $91.70 per share, with a total value of $999,530.00. Following the acquisition, the director now owns 13,100 shares of the company’s stock, valued at $1,201,270. The disclosure for this purchase can be found here. Company insiders own 0.84% of the company’s stock.
A number of analysts recently weighed in on the stock. Royal Bank of Canada increased their price objective on shares of Texas Instruments from $125.00 to $127.00 and gave the stock a “$115.68” rating in a research report on Wednesday, July 18th. Zacks Investment Research raised shares of Texas Instruments from a “hold” rating to a “buy” rating and set a $130.00 price objective on the stock in a research report on Thursday, July 19th. BidaskClub raised shares of Texas Instruments from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Jefferies Financial Group restated a “buy” rating and issued a $157.00 target price on shares of Texas Instruments in a research note on Wednesday, July 25th. Finally, Mizuho restated a “hold” rating on shares of Texas Instruments in a research note on Tuesday, July 24th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have assigned a buy rating to the company. Texas Instruments has an average rating of “Hold” and a consensus price target of $117.11.
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Texas Instruments Company 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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