Texas Instruments Incorporated (NASDAQ:TXN) CEO Richard K. Templeton sold 190,000 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $96.88, for a total transaction of $18,407,200.00. Following the sale, the chief executive officer now owns 1,137,056 shares of the company’s stock, valued at $110,157,985.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Texas Instruments Incorporated (NASDAQ:TXN) opened at 96.06 on Tuesday. The firm has a market cap of $95.10 billion, a price-to-earnings ratio of 24.03 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 stock’s 50 day moving average is $90.46 and its 200 day moving average is $83.18.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings results on Tuesday, October 24th. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $3.91 billion. During the same period in the prior year, the company posted $0.94 EPS. The company’s revenue was up 12.0% on a year-over-year basis. Equities analysts expect that Texas Instruments Incorporated will post $4.35 earnings per share for the current year.
Texas Instruments declared that its Board of Directors has initiated a stock buyback plan on Thursday, September 21st that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the semiconductor company to purchase up to 74% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
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. 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 2.58%. The ex-dividend date is Monday, October 30th. Texas Instruments’s dividend payout ratio is 46.73%.
A number of hedge funds and other institutional investors have recently made changes to their positions in TXN. BlackRock Inc. increased its position in Texas Instruments by 1,924.6% in the 1st quarter. BlackRock Inc. now owns 64,718,640 shares of the semiconductor company’s stock valued at $5,213,733,000 after acquiring an additional 61,521,990 shares during the period. Janus Henderson Group PLC increased its position in Texas Instruments by 729.1% in the 2nd quarter. Janus Henderson Group PLC now owns 12,427,361 shares of the semiconductor company’s stock valued at $955,996,000 after acquiring an additional 10,928,410 shares during the period. Vanguard Group Inc. increased its position in Texas Instruments by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 79,646,537 shares of the semiconductor company’s stock valued at $6,416,325,000 after acquiring an additional 3,551,400 shares during the period. Waddell & Reed Financial Inc. increased its position in Texas Instruments by 476.4% in the 1st quarter. Waddell & Reed Financial Inc. now owns 1,988,640 shares of the semiconductor company’s stock valued at $160,205,000 after acquiring an additional 1,643,640 shares during the period. Finally, Koch Industries Inc. increased its position in Texas Instruments by 36,796.2% in the 2nd quarter. Koch Industries Inc. now owns 1,359,255 shares of the semiconductor company’s stock valued at $1,342,000 after acquiring an additional 1,355,571 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.
A number of equities research analysts have issued reports on TXN shares. Robert W. Baird upped their price target on shares of Texas Instruments from $85.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. BidaskClub upgraded shares of Texas Instruments from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 2nd. Zacks Investment Research cut shares of Texas Instruments from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Barclays PLC upped their price target on shares of Texas Instruments from $85.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, October 18th. Finally, Royal Bank Of Canada upped their price target on shares of Texas Instruments from $95.00 to $96.00 and gave the company an “outperform” rating in a report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $93.85.
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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