Seven Eight Capital LP Takes Position in Texas Instruments Incorporated (TXN)
Seven Eight Capital LP purchased a new stake in shares of Texas Instruments Incorporated (NASDAQ:TXN) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 157,266 shares of the semiconductor company’s stock, valued at approximately $16,873,000. Texas Instruments comprises approximately 1.0% of Seven Eight Capital LP’s holdings, making the stock its largest position.
A number of other institutional investors have also recently made changes to their positions in the stock. Bridgeworth LLC increased its holdings in shares of Texas Instruments by 28.7% in the 2nd quarter. Bridgeworth LLC now owns 3,064 shares of the semiconductor company’s stock valued at $337,000 after acquiring an additional 683 shares during the period. Gulf International Bank UK Ltd increased its holdings in shares of Texas Instruments by 1.5% in the 2nd quarter. Gulf International Bank UK Ltd now owns 316,213 shares of the semiconductor company’s stock valued at $34,862,000 after acquiring an additional 4,665 shares during the period. Flagship Harbor Advisors LLC increased its holdings in shares of Texas Instruments by 9.8% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 10,190 shares of the semiconductor company’s stock valued at $1,123,000 after acquiring an additional 906 shares during the period. Lourd Capital LLC purchased a new position in shares of Texas Instruments in the 3rd quarter valued at $299,000. Finally, AustralianSuper Pty Ltd increased its holdings in shares of Texas Instruments by 14.1% in the 2nd quarter. AustralianSuper Pty Ltd now owns 1,461,000 shares of the semiconductor company’s stock valued at $161,075,000 after acquiring an additional 179,993 shares during the period. 84.41% of the stock is owned by institutional investors.
Shares of TXN stock traded down $2.38 on Friday, hitting $96.10. The company had a trading volume of 6,255,923 shares, compared to its average volume of 10,232,998. The stock has a market cap of $93.36 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 1.89 and a beta of 1.28. The company has a quick ratio of 3.09, a current ratio of 3.97 and a debt-to-equity ratio of 0.41. Texas Instruments Incorporated has a twelve month low of $87.90 and a twelve month high of $120.75.
Texas Instruments declared that its Board of Directors has authorized a stock buyback plan on Thursday, September 20th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 11.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Wednesday, October 31st will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, October 30th. This is a boost from Texas Instruments’s previous quarterly dividend of $0.62. Texas Instruments’s payout ratio is 71.96%.
In related news, insider Kyle M. Flessner sold 16,088 shares of Texas Instruments 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 completion of the transaction, the insider now owns 43,270 shares in the company, valued at approximately $4,067,380. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Martin S. Craighead purchased 10,900 shares of the business’s stock in a transaction that occurred on Thursday, October 25th. The stock was acquired at an average price of $91.70 per share, with a total value of $999,530.00. Following the purchase, the director now owns 13,100 shares in the company, valued at $1,201,270. The disclosure for this purchase can be found here. Insiders own 0.84% of the company’s stock.
TXN has been the topic of a number of analyst reports. B. Riley cut their price target on Texas Instruments from $123.00 to $110.00 and set a “neutral” rating on the stock in a report on Monday, October 22nd. Royal Bank of Canada lowered their price objective on Texas Instruments to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, October 24th. Bank of America raised their price objective on Texas Instruments from $138.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Zacks Investment Research cut Texas Instruments from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Finally, Barclays lowered their price objective on Texas Instruments from $120.00 to $105.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $117.11.
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Texas Instruments 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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