Texas Instruments Incorporated (NASDAQ:TXN) Director Ralph W. Babb, Jr. sold 22,158 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $96.51, for a total transaction of $2,138,468.58. Following the completion of the transaction, the director now owns 41,454 shares of the company’s stock, valued at approximately $4,000,725.54. The sale was disclosed in a filing with the SEC, which is available at this link.
Texas Instruments Incorporated (NASDAQ:TXN) traded up 0.66% during trading on Tuesday, reaching $96.69. 3,770,261 shares of the company’s stock traded hands. The stock has a market capitalization of $95.73 billion, a P/E ratio of 24.18 and a beta of 1.24. Texas Instruments Incorporated has a 12 month low of $66.80 and a 12 month high of $97.56. The company has a 50-day moving average of $90.46 and a 200 day moving average of $83.18.
Texas Instruments (NASDAQ:TXN) last issued its quarterly earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.12 by $0.14. Texas Instruments had a net margin of 29.98% and a return on equity of 38.88%. The firm had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same period in the previous year, the business earned $0.94 earnings per share. Texas Instruments’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, equities research analysts expect that Texas Instruments Incorporated will post $4.35 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st will be given a $0.62 dividend. The ex-dividend date is Monday, October 30th. This is a boost from Texas Instruments’s previous quarterly dividend of $0.50. This represents a $2.48 annualized dividend and a yield of 2.56%. Texas Instruments’s payout ratio is 46.73%.
Texas Instruments announced that its board has initiated a stock buyback program on Thursday, September 21st that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 74% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
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A number of analysts recently weighed in on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $98.00 price target (up previously from $85.00) on shares of Texas Instruments in a research note on Wednesday, October 25th. Credit Suisse Group reiterated an “outperform” rating and set a $110.00 price target (up previously from $95.00) on shares of Texas Instruments in a research note on Wednesday, October 25th. B. Riley reiterated a “neutral” rating and set a $89.00 price target on shares of Texas Instruments in a research note on Monday, July 31st. BMO Capital Markets reiterated a “buy” rating and set a $105.00 price target on shares of Texas Instruments in a research note on Wednesday, October 25th. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $110.00 price target (up previously from $92.00) on shares of Texas Instruments in a research note on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Texas Instruments has a consensus rating of “Buy” and an average price target of $93.85.
A number of hedge funds and other institutional investors have recently bought and sold shares of TXN. American Beacon Advisors Inc. acquired a new stake in Texas Instruments during the 1st quarter worth about $101,000. Patriot Financial Group Insurance Agency LLC raised its holdings in Texas Instruments by 18.4% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock worth $101,000 after buying an additional 200 shares during the period. MV Capital Management Inc. raised its holdings in Texas Instruments by 7.6% during the 2nd quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock worth $102,000 after buying an additional 93 shares during the period. ClariVest Asset Management LLC raised its holdings in Texas Instruments by 8.4% during the 1st quarter. ClariVest Asset Management LLC now owns 1,296 shares of the semiconductor company’s stock worth $104,000 after buying an additional 100 shares during the period. Finally, Balentine LLC raised its holdings in Texas Instruments by 6.5% during the 1st quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock worth $106,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.
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.
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