Texas Instruments Incorporated (NASDAQ:TXN) SVP Bing Xie sold 17,500 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $96.53, for a total value of $1,689,275.00. Following the sale, the senior vice president now owns 78,102 shares of the company’s stock, valued at approximately $7,539,186.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Texas Instruments (NASDAQ:TXN) last announced its quarterly earnings data on Tuesday, October 24th. The semiconductor company reported $1.26 EPS for the quarter, beating 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 business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same period in the previous year, the business earned $0.94 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis.
Texas Instruments declared that its Board of Directors has approved a stock repurchase plan on Thursday, September 21st that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor company to repurchase up to 74% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.62 per share. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50. This represents a $2.48 annualized dividend and a yield of 2.56%. The ex-dividend date is Monday, October 30th. Texas Instruments’s payout ratio is currently 57.94%.
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Several analysts recently weighed in on TXN shares. Robert W. Baird increased their target price on Texas Instruments from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. BidaskClub upgraded Texas Instruments from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 2nd. Zacks Investment Research downgraded Texas Instruments from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Barclays PLC increased their target price on Texas Instruments from $85.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 18th. Finally, Royal Bank Of Canada increased their target price on Texas Instruments from $95.00 to $96.00 and gave the company an “outperform” rating in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $93.85.
A number of institutional investors and hedge funds have recently made changes to their positions in TXN. American Beacon Advisors Inc. acquired a new position in shares of Texas Instruments during the first quarter worth $101,000. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Texas Instruments by 18.4% during the second 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 in the last quarter. ClariVest Asset Management LLC increased its holdings in shares of Texas Instruments by 8.4% during the first 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 in the last quarter. Balentine LLC increased its holdings in shares of Texas Instruments by 6.5% during the first quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock worth $106,000 after buying an additional 80 shares in the last quarter. Finally, MV Capital Management Inc. increased its holdings in shares of Texas Instruments by 7.6% during the second 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 in the last quarter. Institutional investors and hedge funds 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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