Baird Financial Group Inc. boosted its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 2.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 123,901 shares of the semiconductor company’s stock after buying an additional 3,022 shares during the period. Baird Financial Group Inc.’s holdings in Texas Instruments were worth $13,349,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ffcm LLC lifted its stake in shares of Texas Instruments by 2,210.4% in the 3rd quarter. Ffcm LLC now owns 2,748,719 shares of the semiconductor company’s stock valued at $5,589,000 after purchasing an additional 2,629,746 shares during the last quarter. Charles Schwab Investment Advisory Inc. acquired a new position in shares of Texas Instruments in the 2nd quarter valued at $282,741,000. Alecta Pensionsforsakring Omsesidigt acquired a new position in shares of Texas Instruments in the 3rd quarter valued at $238,077,000. FMR LLC lifted its stake in shares of Texas Instruments by 19.7% in the 2nd quarter. FMR LLC now owns 12,907,773 shares of the semiconductor company’s stock valued at $1,423,082,000 after purchasing an additional 2,120,260 shares during the last quarter. Finally, Schroder Investment Management Group lifted its stake in shares of Texas Instruments by 39.1% in the 2nd quarter. Schroder Investment Management Group now owns 3,278,298 shares of the semiconductor company’s stock valued at $357,662,000 after purchasing an additional 921,101 shares during the last quarter. 85.51% of the stock is currently owned by institutional investors.
TXN opened at $99.85 on Friday. Texas Instruments Incorporated has a 12-month low of $87.90 and a 12-month high of $120.75. The company has a current ratio of 3.97, a quick ratio of 3.09 and a debt-to-equity ratio of 0.41. The stock has a market cap of $93.59 billion, a P/E ratio of 23.33, a PEG ratio of 1.89 and a beta of 1.28.
Texas Instruments announced that its Board of Directors has authorized a stock buyback program on Thursday, September 20th that authorizes the company to buyback $12.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 11.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The company also recently announced 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 of this dividend was Tuesday, October 30th. This represents a $3.08 annualized dividend and a yield of 3.08%. Texas Instruments’s dividend payout ratio is presently 71.96%.
In related news, Director Martin S. Craighead purchased 10,900 shares of the business’s stock in a transaction on Thursday, October 25th. The shares were bought at an average price of $91.70 per share, for a total transaction of $999,530.00. Following the acquisition, the director now directly owns 13,100 shares in the company, valued at $1,201,270. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kyle M. Flessner sold 16,088 shares of the company’s stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $94.00, for a total value of $1,512,272.00. Following the sale, the insider now owns 43,270 shares in the company, valued at approximately $4,067,380. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by corporate insiders.
Several equities analysts have recently commented on TXN shares. JPMorgan Chase & Co. decreased their price target on Texas Instruments from $134.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 24th. B. Riley decreased their price target on Texas Instruments from $123.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, October 22nd. Royal Bank of Canada decreased their price target on Texas Instruments to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 24th. Sanford C. Bernstein reaffirmed a “buy” rating and issued a $115.00 price target on shares of Texas Instruments in a research note on Wednesday, October 24th. Finally, Citigroup reaffirmed a “buy” rating on shares of Texas Instruments in a research note on Wednesday, October 24th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $117.11.
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Texas Instruments Company 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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