Fmr LLC Increases Stake in Texas Instruments Incorporated (TXN)

Fmr LLC increased its holdings in Texas Instruments Incorporated (NASDAQ:TXN) by 2.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,422,815 shares of the semiconductor company’s stock after purchasing an additional 250,488 shares during the period. Fmr LLC owned approximately 1.25% of Texas Instruments worth $955,687,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Waldron LP purchased a new stake in Texas Instruments during the 1st quarter valued at $423,000. Pax World Management LLC boosted its position in Texas Instruments by 7.6% during the 1st quarter. Pax World Management LLC now owns 7,075 shares of the semiconductor company’s stock valued at $570,000 after buying an additional 500 shares during the period. First Personal Financial Services boosted its position in Texas Instruments by 35.4% during the 1st quarter. First Personal Financial Services now owns 3,827 shares of the semiconductor company’s stock valued at $308,000 after buying an additional 1,000 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Texas Instruments by 29.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 74,152 shares of the semiconductor company’s stock valued at $5,974,000 after buying an additional 16,857 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Texas Instruments by 0.4% during the 1st quarter. Ameriprise Financial Inc. now owns 3,545,206 shares of the semiconductor company’s stock valued at $285,613,000 after buying an additional 12,891 shares during the period. 83.66% of the stock is owned by institutional investors.

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In other Texas Instruments news, Director Carrie Smith Cox sold 14,000 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $82.25, for a total value of $1,151,500.00. Following the completion of the transaction, the director now directly owns 38,435 shares in the company, valued at $3,161,278.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brian T. Crutcher sold 50,000 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $81.09, for a total transaction of $4,054,500.00. Following the completion of the transaction, the chief operating officer now owns 201,440 shares of the company’s stock, valued at $16,334,769.60. The disclosure for this sale can be found here. Insiders sold 211,301 shares of company stock valued at $17,259,256 over the last quarter. 0.96% of the stock is currently owned by corporate insiders.

Shares of Texas Instruments Incorporated (NASDAQ TXN) opened at 94.23 on Tuesday. Texas Instruments Incorporated has a 1-year low of $66.80 and a 1-year high of $94.41. The company has a market capitalization of $93.29 billion, a price-to-earnings ratio of 23.57 and a beta of 1.24. The firm’s 50-day moving average is $86.61 and its 200-day moving average is $81.95.

Texas Instruments (NASDAQ:TXN) last announced its earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.07. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.57 billion. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 earnings per share. Analysts forecast that Texas Instruments Incorporated will post $4.13 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st will be issued a $0.62 dividend. The ex-dividend date of this dividend is Monday, October 30th. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50. This represents a $2.48 dividend on an annualized basis and a yield of 2.63%. Texas Instruments’s payout ratio is currently 50.51%.

Texas Instruments declared that its Board of Directors has approved a share buyback program on Thursday, September 21st that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 74% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Several equities research analysts have weighed in on the stock. B. Riley reissued a “neutral” rating and set a $89.00 price target on shares of Texas Instruments in a research report on Monday, July 31st. Sanford C. Bernstein reissued an “outperform” rating and set a $95.00 price target on shares of Texas Instruments in a research report on Tuesday, September 26th. Stifel Nicolaus reissued a “hold” rating and set a $85.00 price target on shares of Texas Instruments in a research report on Wednesday, October 4th. SunTrust Banks, Inc. reissued a “hold” rating and set a $86.00 price target on shares of Texas Instruments in a research report on Thursday, October 12th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $96.00 price target on shares of Texas Instruments in a research report on Monday, September 25th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $86.51.

About Texas Instruments

Texas Instruments Incorporated designs, makes and sells semiconductors to electronics designers and manufacturers across the world. The Company operates through two segments: Analog and Embedded Processing. As of December 31, 2016, the Company had design, manufacturing or sales operations in more than 30 countries.

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

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