Paloma Partners Management Co bought a new position in shares of Texas Instruments Incorporated (NASDAQ:TXN) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 13,595 shares of the semiconductor company’s stock, valued at approximately $1,458,000.
Several other institutional investors have also recently made changes to their positions in the stock. Centaurus Financial Inc. acquired a new stake in Texas Instruments in the 2nd quarter valued at about $101,000. Baker Ellis Asset Management LLC acquired a new stake in Texas Instruments in the 2nd quarter valued at about $105,000. Kwmg LLC acquired a new stake in Texas Instruments in the 2nd quarter valued at about $107,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in Texas Instruments in the 3rd quarter valued at about $107,000. Finally, Fort L.P. acquired a new stake in Texas Instruments in the 2nd quarter valued at about $118,000. Institutional investors and hedge funds own 84.70% of the company’s stock.
Shares of NASDAQ TXN opened at $94.26 on Friday. The stock has a market capitalization of $92.06 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 1.86 and a beta of 1.29. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.09 and a current ratio of 3.97. Texas Instruments Incorporated has a 1 year low of $87.90 and a 1 year high of $120.75.
Texas Instruments declared that its Board of Directors has authorized a share buyback plan on Thursday, September 20th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 11.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 19th. Investors of record on Wednesday, October 31st were paid a dividend of $0.77 per share. This is a positive change from Texas Instruments’s previous quarterly dividend of $0.62. The ex-dividend date was Tuesday, October 30th. This represents a $3.08 annualized dividend and a yield of 3.27%. Texas Instruments’s dividend payout ratio (DPR) is presently 71.96%.
In related news, insider Kyle M. Flessner sold 16,088 shares of Texas Instruments stock in a transaction that occurred 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 transaction, the insider now owns 43,270 shares of the company’s stock, valued at approximately $4,067,380. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martin S. Craighead acquired 10,900 shares of Texas Instruments stock in a transaction that occurred on Thursday, October 25th. The shares were purchased at an average cost of $91.70 per share, for a total transaction of $999,530.00. Following the purchase, the director now directly owns 13,100 shares in the company, valued at $1,201,270. The disclosure for this purchase can be found here. 0.84% of the stock is owned by company insiders.
Several research firms have weighed in on TXN. UBS Group lowered their price objective on shares of Texas Instruments from $93.00 to $90.00 and set a “sell” rating for the company in a research report on Wednesday, October 24th. BidaskClub cut shares of Texas Instruments from a “sell” rating to a “strong sell” rating in a research report on Friday, September 14th. Zacks Investment Research cut shares of Texas Instruments from a “buy” rating to a “hold” rating in a research report on Tuesday, September 18th. BMO Capital Markets lowered their price objective on shares of Texas Instruments from $138.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, October 24th. Finally, Loop Capital lowered their price objective on shares of Texas Instruments to $120.00 and set a “buy” rating for the company in a research report on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $117.11.
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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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