Marvin & Palmer Associates Inc. Sells 7,455 Shares of Texas Instruments Incorporated (NASDAQ:TXN)
Marvin & Palmer Associates Inc. reduced its position in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 8.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,380 shares of the semiconductor company’s stock after selling 7,455 shares during the period. Texas Instruments accounts for approximately 4.7% of Marvin & Palmer Associates Inc.’s portfolio, making the stock its 8th largest position. Marvin & Palmer Associates Inc.’s holdings in Texas Instruments were worth $6,184,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. increased its position in shares of Texas Instruments by 1,924.6% during the first 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 in the last quarter. Vanguard Group Inc. increased its position in shares of Texas Instruments by 4.7% during the first 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 in the last quarter. Waddell & Reed Financial Inc. increased its position in shares of Texas Instruments by 476.4% during the first 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 in the last quarter. Janus Capital Management LLC increased its position in shares of Texas Instruments by 22.3% during the first quarter. Janus Capital Management LLC now owns 7,433,168 shares of the semiconductor company’s stock valued at $598,816,000 after acquiring an additional 1,353,492 shares in the last quarter. Finally, FMR LLC grew its position in Texas Instruments by 12.3% in the 1st quarter. FMR LLC now owns 12,172,327 shares of the semiconductor company’s stock worth $980,603,000 after purchasing an additional 1,328,606 shares during the period. Institutional investors and hedge funds own 83.68% of the company’s stock.
In other Texas Instruments news, COO Brian T. Crutcher sold 50,000 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $81.09, for a total value of $4,054,500.00. Following the transaction, the chief operating officer now directly owns 201,440 shares of the company’s stock, valued at approximately $16,334,769.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert E. Sanchez sold 26,905 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $81.48, for a total transaction of $2,192,219.40. Following the completion of the transaction, the director now directly owns 27,565 shares in the company, valued at $2,245,996.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 211,301 shares of company stock valued at $17,259,256. 0.96% of the stock is owned by insiders.
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Texas Instruments Incorporated (NASDAQ:TXN) traded up 1.05% on Friday, hitting $93.59. 2,674,803 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $86.45 and its 200-day moving average price is $81.93. The company has a market cap of $92.66 billion, a PE ratio of 23.41 and a beta of 1.24. Texas Instruments Incorporated has a 12-month low of $66.80 and a 12-month high of $93.73.
Texas Instruments (NASDAQ:TXN) last released its quarterly earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.96 by $0.07. Texas Instruments had a net margin of 28.68% and a return on equity of 36.52%. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the firm earned $0.76 EPS. Texas Instruments’s revenue for the quarter was up 12.8% on a year-over-year basis. Analysts forecast that Texas Instruments Incorporated will post $4.13 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 31st will be given a $0.62 dividend. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, October 30th. This represents a $2.48 annualized dividend and a yield of 2.65%. Texas Instruments’s dividend payout ratio is 50.51%.
Texas Instruments declared that its Board of Directors has initiated a stock repurchase plan on Thursday, September 21st that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 74% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.
A number of brokerages have recently issued reports on TXN. Raymond James Financial, Inc. reissued a “mkt perform” rating on shares of Texas Instruments in a research report on Friday, June 16th. Jefferies Group LLC restated a “buy” rating on shares of Texas Instruments in a research note on Monday, July 10th. Cowen and Company restated a “hold” rating and set a $82.00 target price on shares of Texas Instruments in a research note on Friday, July 14th. Zacks Investment Research upgraded shares of Texas Instruments from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Finally, Barclays PLC lifted their target price on shares of Texas Instruments from $77.00 to $83.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $86.51.
Texas Instruments Company Profile
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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